To buy or sell a business is an important decision. In a business sale transaction, the parties can to a large extent agree which of the assets or liabilities of the seller the buyer will take over. An exception relates to the employees of the business who will usually transfer automatically to the buyer on the same terms of employment by operation of TUPE.
The seller’s rights and obligations under any trading contracts of the business will not automatically transfer and so decisions will need to be made about how to deal with these contracts.
There are a number of issues which may arise and need to be considered and addressed for example relating to data protection, property or any charges over the assets granted by the seller to its bank.
The warranties to be given by the seller about the business and assets in the asset sale agreement may be less extensive than those required in a share sale transaction but will still need to be negotiated and the seller is still likely to need to produce a disclosure letter disclosing matters which would give rise to a breach of warranty to avoid the risk of post-completion claims.
Our team of corporate lawyers has extensive experience and expertise in providing legal advice on the sale and purchase of businesses including:
- advising on the planning and preparation required to ensure the most beneficial outcome including dealing with the heads of terms and conducting or preparing for the due diligence exercise
- drafting and negotiating the asset sale agreement and other documents required to effect the transaction so as to minimise risk and maximise value for our clients
- using our legal knowledge and technical ability to good effect while also providing commercial and practical advice aimed at our client’s needs and objectives
- working with the other advisors and the other side to complete transactions efficiently, economically and within the required timescale
- guiding our clients through the process, understanding your priorities and concerns and protecting your interests throughout
If you are considering buying or selling a business, please contact our corporate lawyers for advice on 08081668827.
For further information you may also be interested in:
Disclaimer:
Information on this website is provided for general information purposes only. It is not intended to constitute and should not be relied upon as legal advice. There are a number of factors and circumstances which may be relevant to legal advice. The law may also have changed before we are able to update the information on this website. If legal advice is required, please contact us on 08081668827.
 |
 |
 |
 |
 |
 |
|
