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Acquisitions Mergers and Business Sales
Selling a business or acquiring one is a time that you really need business law advice. The liabilities that can follow you or the liabilities that you can inherit are daunting if you don’t have the right legal advisor guiding you through the process.
Here are some considerations that you should give thought to:-
- Have you staggered the purchase price based on the company's existing good will and client lists?
- Are you acquiring the business by a transfer of shares
- Was this part of an asset only sale
- Is there provisions for the transfer of any trade marks, copyright or intellectual property rights
- Have you put in place anti-competitive restrictions preventing the seller from competing with the business following the sale?
- Have you thought about whether the dilapidations have been agreed on a lease?
- Was the rent, rates and dilapidations adequately and fairly apportioned?
- Can you get out of the lease should something go wrong?
- Will you remain liable under the lease you are selling years down the line?
- Have you put in place adequate indemnities against the incoming tenant?
- Are you going to be bound by contracts that existed before you purchased the proposed business or indeed, will those contracts transfer to you after you’ve paid the price?
- Is there a shareholding to consider?
- Are there strategic voting rights in place?
- Do you have a shareholders agreement to deal with the companies composition moving forward?
- Are you acquiring staff?
- Have you considered whether you will need them if the business is being purchased as an ongoing concern?
Talk to KJL Solicitors about your intentions to merge, sell or acquire a business and our specialist team will advise and speedily negotiate your way through the sale & purchase process. Please do not hesitate to contact us for advice at KJL Solicitors, Blofield Chambers, The Street, Blofield, Norwich, NR13 4AA. Based just outside Norwich within minutes of the A47 and with parking right outside our offices.