When buying and selling businesses, parties to a transaction are initially faced with a choice of methods via which that sale can be achieved. In the case of a private company the shareholders can sell their shares in that company, alternatively, and with regards to the sale of any business whether it be run by a sole trader, partnership or private company, the business itself can be sold.
There are a number of factors which often determine which method is used, including but not limited to varying tax advantages and disadvantages, the apportionment or disposal of liabilities, whether only part of the businesses is to be sold, or whether there are any non-transferable contracts, rights or licences.
Once the method of sale is determined and agreed, the transaction that follows can vary tremendously depending on the size and complexity of the deal and the negotiating position of the parties.
At Setfords Solicitors we act for a wide range of clients and have extensive experience in the sale and purchase of many types of businesses, from small retail businesses to large multinational companies. Our lawyers are able to guide you through the entire process and can assist with:
- Initial considerations, deal structure and sale negotiations
- Preparation and review of non-disclosure agreements, confidentiality agreements, lock-out agreements and heads of terms
- Facilitation and coordination of any legal due-diligence
- Drafting, review and negotiation of the sale agreement and a any other contractual documentation required
- Coordination of the disclosure exercise and preparation, review and negotiation of the disclosure letter, if required
- Drafting and review of any consultancy agreements, service contracts, letters of termination and compromise agreements that may be required
- Coordination of any board meetings and preparation, review of any board minutes or written resolutions that may be required
- Undertaking all post completion matters including all filings, registrations, payments, money transfers and all other ancillary matters that need to be dealt with.
If you would like to discuss your requirements in more detail please contact us on 01483 408780 or e-mail info@setfords.co.uk
