How can we take over a sole proprietorship company?

The proprietor’s business can be taken over by the other entity through an agreement to buy the business assets and liabilities.

There could be two situations of takeover:

• Takeover by the existing organisation

• Registering new organisation to takeover the proprietorship's business

Based on the concerned situation, the takeover process would change a little. The process will also depend on organisation structure of the purchasing entity. While takeover, you need to check upon the business valuation aspects mainly considering the existing and prospective assets and liabilities of the proprietor. You must consult a professional who can help you to get through the process smoothly. Get in touch with LegalWiz.in experts - available at 1800–313–4151.