An asset search is an indispensible tool that sheds light on countless scenarios. If you intend to take legal action against a company or individual do they have assets that can be levied and are the assets, in fact, actually owned by the individual or company. Will you realise your claim or no more than incur substantial legal costs. An asset search confirms at an early stage whether the company or individual is worth pursuing and/or whether any due legal process will be a waste of time, effort and resources.
The Availability of business records will also depend on whether the company is publicly or privately owned. Assets will also include the value and to some extent goodwill of business interests, physical property, stock and share holdings, mutual funds and bonds. Is an individual or company deliberately hiding assets and if so why. Are they attempting to extricate themselves from tax liabilities and debt obligations.Also bear in mind that any information may well prove to be very sensitive.
Ownership records (business) will be registered with the State and should confirm where the subject carries on his or her business. It may well be that information surfaces around aditional business interests. Business records also take in SEC documents. These relate to mandatory company disclosures of any company that conducts business with towns or cities and/or qualify for special category ownership (or minority) when tendering for state contracts. The secretary of State’s officesholuld hold this information. Does the business havea website and is there an annual report. This report may well discuss sales, profit and balance sheets to attract investment.
Court records in respect of civil settlements may also be revealing and criminal records may also confirm the value of a business if the subject was incarcerated or fined for unpaid taxes and/or mandatory state employee benefits.