commercial law

Buying and Selling a Business

Are you buying or selling a business? Will the transaction see you buying or selling shares or assets? There are many different things to consider.

To help you understand the process we have created a helpful Glossary of Terms, which you can read here. Please note this is no substitute for detailed professional advice based on your individual circumstances.

We can provide advice and guidance on all aspects of sale and purchase transactions, including:

• Drafting a confidentiality agreement and exclusivity agreement
• Investigation of the target business and preparation of a due diligence report
• Negotiations of a sale and purchase agreement and accompanying documents such as settlement (compromise) agreements, consultancy agreements, legal charges etc.
• Investigation of properties whether freehold or leasehold
• Investigation of various assets of the business
• Advising on how to protect yourself when the buyer is to pay the purchase price as a deferred consideration
• Negotiations of seller’s warranties in the sale and purchase agreement
• Drafting and negotiations of a disclosure letter
• Employment matters including drafting the employment contracts and the providing an advice on Transfer of Employees Regulations (commonly known as TUPE)
• Seeking consents and approvals from lenders, landlords etc.
• Drafting corporate approval documents such as board minutes and resolutions
• Dealing with post-completion matters such as stamp duty payment, Land Registry and Companies House registrations

We are also able to act on behalf of your lender, if the lender agrees, in respect of the lender providing finance for the purchase.

We can help

We have extensive experience advising small and medium businesses, partnerships and sole traders in the sale and purchase of their businesses.

Please ask for Paul Hughes on 0121 705 7571
or email paulhughes@wallacerobinson.co.uk

Further reading:

Buying or Selling a Business – Glossary of terms (Commercial Law)

Buying or Selling a Dental Practice (Commercial Law)

This article is for general information purposes only. It does not constitute technical, financial, legal advice or any other type of professional advice and is no substitute for specific advice based on your individual circumstances. We do not accept responsibility or liability for any actions taken based on the information in this article. For more information, please click here.