Selling a Business
At Aristone Solicitors, we know that selling a business can be a complicated task. Irrespective of the size and nature of the business, you need an experienced and capable team behind you from the earliest possible stage. From start to finish, our skilled legal team can offer the expert legal support you need to ensure a smooth and streamlined transaction.
More importantly, we’ll do whatever it takes to ensure you get the best possible price for your business, while avoiding unnecessary costs and complications along the way. For more information or to discuss your requirements in more detail, contact a member of the team at Aristone Solicitors today.
Legal Support for Business Sellers
We understand that selling a business is about far more than a simple monetary transaction. The culmination of many years’ intensive effort and investment, your business is a uniquely valuable and personal asset. As a result, you want to ensure that not only do you get the best possible price for your business, but that it is passed on in a smooth, straightforward and amicable manner.
The four primary stages in the business sales process are as follows:
1. Initial Agreement
Entering into an initial agreement provides no formal guarantees, but nonetheless outlines the intentions of both the seller and the buyer. This is where you will agree on the most important terms and conditions of the sale, including the price you are willing to sell the business for and when you expect the payment to be transferred.
2. Due Diligence
The buyer (and the legal representatives) will carry out extensive checks on your organisation to ensure it is a sound investment. They may request access to sensitive records and documentation, such as your accounts, financial projections, contracts and asset purchase records. We can help with all aspects of the negotiating process and ensure your preferred price is upheld.
3. Purchase Agreement
This is the point at which the contract between you (the seller) and the buyer is formalised. It is therefore essential to ensure that each and every term and condition laid out in the document is both clear and amicable for all parties involved. Under no circumstances must you make any promises you cannot keep or enter into an agreement you are not 100% satisfied with.
It’s important to note that completion of the transaction only occurs when you receive payment in full for your business. Buyers often have additional questions, concerns or complaints to address prior to completion, with which we can help.
Contact Aristone Solicitors
Whether you’ve decided to sell shares in your business or its physical assets, we can help. Our risk-averse approach to business transactions guarantees a safe and streamlined sales process from start to finish. From initial research to drafting contracts to full legal representation, you can count on Aristone Solicitors to provide the support you need at a price you can afford.
Call anytime to book your obligation-free initial consultation with a member of our legal team.