I am buying out a company. Its a small firm and does not have any employees etc as of now (most of them have left/quit). I am buying out the Name / Brand & the IP along with the running website. The Website name and controls etc will come to me post this buyout. I need to know how to go about it?
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Dear mkcindia.. is it a proprietary firm or partnership or a Pvt company? Please give the exact legal status of the firm which you intends to buy out. Bovan Cherian Varkey +91 94470 22265
Since you are buying a company it goes by the COMPANIES ACT 1956 provisions. The transfer of ownership(share holding ) of the company takes place, you (as transferee) the company (as transferrer). You can buy or purchase the assets and liabilities or as your mutual dealing only assets or only liabilities or partly assets partly liabilities.
You can buy the company as :
1)in your individual capacity(proprietary firm).
2)partnership firm.
3) company
You have to comply lots of formalities specified under the acts informing registrar of companies, passing out resolutions etc( if you are as a company)
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