For many business owners, there may come a time when the decision needs to be taken to sell their business.
Whether moving on to pastures new or simply looking to shut-up shop and exit the business, the sale process poses a number of challenges – which is why it is important to seek specialist legal advice.
Businesses are complex entities and can be sold in whole, in part, or even via a complete restructuring – therefore the process will never be as simple as selling other assets such as a car or a residential property.
It is also essential to understand the most advantageous terms that are likely to be achieved, because this will, in turn, dictate how you prepare the business for sale, market it appropriately and negotiate the sale price.
If you are planning the sale of your business assets, it is important to take advice on:
- The valuation of the business
- The form in which the business is to be sold
- Fixed Price v Post-completion adjusted price
- Whether employees or consultants must remain working for the business for a certain period of time
- Non-compete agreements
- Confidentiality and Exclusivity agreements
- Due diligence
- Finalising the deal
Because selling a business is not a simple process nor something that the average business owner is involved with every day, the process can seem complex and confusing.
But with expert legal help the process can be a lot easier that you might imagine.
At Hethertons, our friendly, professional and well connected team provide, no nonsense legal advice. No business sale is too complex and are able to offer creative solutions should the need arise.
Thanks to Hethertons’ full service legal expertise, we can deal with every aspect of the sale including employment, property and litigation matters – allowing you to exit your business and enjoy the financial returns you have worked hard to accrue.
To find out how Hethertons Solicitors can help you to sell or dispose of a business, please contact us.