Taking over a business...

[midnightfxgt]

Hey Guys,

This is hypothetical right now, but I am still interested in knowing the process. I know when you start a business up you need to register the name, and apply for a GST number etc.

What happens if you wish to take over an existing business? How do you go about transferring the name, and the GST numbers etc? Anyone have some useful links/resources?


Thanks!
John

[majic]

just googled take over an existing business ontario (http://www.cbsc.org/servlet/ContentServer?cid=1081945275583&pagename=CBSC_ON/display&lang=en&c=GuideFactSheet).. but i guess it\'s more about pros and cons and benefits of one over another vs teh process.. well there still are some good questions in there..

[Whos ur dadd]

I\'m willing to provide some advice in exchange for a set of rims and tires.

:D

[midnightfxgt]

Originally posted by Whos ur dadd


I\'m willing to provide some advice in exchange for a set of rims and tires.

:D

LOL! Its just a little business, and I am not sure if it will even happen. There is no stock, employees (sorta)... etc. Mostly paying for the name and existing customers.

-John

[billyfo]

it shouldn\'t be many differences w/ starting a new business, only get a lawyer to make sure previous owner(s) has no debt or any oustanding accounts w/ other business/people. If you don\'t do this step, you have to pay all the outstanding $$

[xg3]

Well, make sure you make the company Incorporated once you take over, so the liability lyes with the company and the person that owns it. that will avoid any unnessary law suit to you personally.

[Broli]

in the past if you wanted to take over the buisness
you whacked the boss and assumed power!

those were simpiler times!

lol

[KenYork]

Originally posted by Broli


in the past if you wanted to take over the buisness
you whacked the boss and assumed power!

those were simpiler times!

lol



I guess that\'s how you got your job too.

[bubba1983]

underground highway?

[midnightfxgt]

Originally posted by midnightfxgt
This is hypothetical right now, but I am still interested in knowing the process.

^^^^^^^^^ Crazy Bubba


-John

[bubba1983]

..so im right then?