Buying a Business
Buying a Business
When buying a business one of the most vital parts is doing your due diligence. It is vital that you understand what you are buying.
Accountants can help with the financial side of a business. Solicitors carry out legal due diligence. This is a review of the legal documents and processes of the business. These are to review the sellers contract such as with contractors, clients, hire-purchase, employees and leases.
The point is to ensure that the seller is not in breach of any agreements, that there are no unknown liabilities, and that the seller actually owns the equipment, stock or goods that they are purporting to own.
Our role is to then review and draft the legal documents for the purchase. If you make a bad deal in the course of business, the general position of the court is that the court will not aid you. It is therefore vital that suitable wording included in any purchase agreement that givens some protection and recourse to the buyer.
If you are buying a business, it is likely to be the largest financial investment of your life, apart from your home. It is important to make sure that your hard gained money is buying what you actually think you are buying. Moreover, a businesses value is hard to assess until you have done your full legal and financial due diligence.
What if you are taking over a business with hidden contractual issues or cannot prove ownership of its machinery or equipment? Doing it properly can avoid the risks.
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Our specialist team can provide full service legal advice and assistance, giving practical and cost-effective solutions.
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We live and work locally and our reputation is paramount to our continued success. We take as a matter of pride our ability to retain clients.
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We have legal experience in a breadth of matters, but we also have something few lawyers have: a depth of business, commercial and life experience that allows us to provide practical legal advice and solutions that suit your needs.
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Our team consists of Solicitors, although capable in most areas of law they are specialists in their chosen fields.
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It is our aim to provide a legal service that is affordable and our business is set to do just that. We will advise as to the likely cost of any matter and because of our more personalised approach we are able to provide an efficient and tailored service to each client without the additional costs of many larger or traditionally setup lawyers.