Business Law Expertise
Selling a Business
The Law Firm Group – Business Law Expertise
Professional Legal Advice When Selling a Business
Selling a business is often the culmination of decades of hard work and can be an emotional time when legal support is imperative to ensure you maximise your returns.
Professional advice from the experienced commercial teams at The Law Firm Group offers just that. We appreciate that selling a business is complex, and there are many factors to a successful transition, so provide comprehensive assistance at each stage.
Our consultants support business owners of all sizes in preparing a business for sale, evaluating the terms and conditions of sale contracts, and identifying potential risks before any transactions proceed.
Our Business Sale Legal Support Services
The key to selling a business is to ensure you have a complete understanding of each legal element of the transaction. There are multiple ways to structure a sale, and each may be more beneficial in some circumstances than others.
The Law Firm Group works with a vast range of business sectors to facilitate smooth sales without owner risk.
Our business sale services include:
- Due diligence to ensure any legal, financial or contractual vulnerabilities have been evaluated and mitigated.
- Drafting sale and purchase agreements, setting out the legal obligations of each party. This document is crucial and covers everything from asset ownership to taxation, employee commitments to profitability.
- Disclosure letters, which detail warranties provided by the seller and documented in the sale and purchase agreement. Some statements need to be qualified, and so a disclosure letter is a protection to avoid future claims for breach of warranty.
Even a seemingly simple business sale can carry substantial risks, so working through each of these stages with full legal support is essential to ensure your business sale meets your expectations.
The Benefits of Legal Guidance When Selling a Business
While there are many legal components to constructing a stable business sale transaction, several practical matters require attention.
The Law Firm Group has managed thousands of business sales and will highlight any potential disputes before they arise to ensure you can move forward.
Some of the many areas where we carry out a complete analysis are:
- Timings – identifying any critical deadlines, which are essential to meeting your sale aspirations.
- Confidentiality – many business owners wish to protect commercially sensitive information, in which case a confidentiality agreement is necessary.
- Exclusivity – business sales often require a period for the handover to occur. As a buyer commits to this investment, they often need an exclusivity agreement to ensure the owner cannot sell the business to a competitor in the meantime.
The best approach to selling a business is to consult with an experienced team of commercial solicitors before entering into any agreements. We will evaluate these possible pitfalls and advise on suitable safeguards.
Bespoke Legal Advice Preparing a Business For Sale
The Law Firm Group supports a considerable range of companies in organising a successful, streamlined business sale, including small businesses, professional firms, family enterprises and large corporations.
If you wish to explore all the options and identify obstacles to avoid, please contact our team to arrange a convenient time to discuss your business sale plans.