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There is a local gunshop and my friends dad is on the Ffl as a partner and wants to retire. How can he remove his name/liability from the company? Next question is how can I add my name to the Ffl?
Thanks.
Thanks.
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It's not all that hard. Check with ATF for the form to fill out as the new person responsible for the business. -
We get some calgunner discounts?sigpicComment
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no heavy discounts just yet. its not free to buy into the gun shopComment
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no discounts at all just yet. In order to sell to us, you first have to survive as a business. Perks come later.
You are no good to us out of business.Comment
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Your attorney and CPA should be able to educate you on the process and help you decide if you want to buy the assets of the business or the entire business- assets and liabilities.
As a bad example, look at the Chase/ JP Morgan acquisition...
Chase purchased JP Morgan and now get to pay fines based upon what JP Morgan did before they owned the company...Rule 1- ALL GUNS ARE ALWAYS LOADED
Rule 2 -NEVER LET THE MUZZLE COVER ANYTHING YOU ARE NOT PREPARED TO DESTROY (including your hands and legs)
Rule 3 -KEEP YOUR FINGER OFF THE TRIGGER UNTIL YOUR SIGHTS ARE ON THE TARGET
Rule 4 -BE SURE OF YOUR TARGET AND WHAT IS BEYOND IT
(thanks to Jeff Cooper)Comment
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IMO if you have no experience in the industry do not do it. You are buying someone's previous mistakes and on the hook for everything. I would spend a TON of time looking over the books, hiring an external auditor to look at ATF/DOJ compliance. See what is owed to customers and distributors ectArtist formally known as CEO of Tracy Rifle and PistolComment
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