When buying or selling a business you will usually need professional company law advice.
Sales and purchases are major transactions, so it is important that sellers and buyers fully understand what they must do to fulfil their legal obligations. A business sale is often either a purchase of the shares in the company by the buyer from the seller, or a purchase of the assets of the company by the buyer from the seller.
If you are purchasing a business by buying the shares, you will be taking over the entire business, including any historical claims and liabilities. It is for this reason, buyers often purchase only the assets of a business. At Hollingsworths we can explain the implications of a share purchase/sale compared to an asset purchase/asset sale so that both parties know what to expect.
We will advise you on the agreement to sell or purchase your business and offer guidance on the warranties that buyers often request from a seller. We will also guide you on what information the buyer should be seeking from the seller about the company being acquired and its assets.
To discover how Hollingsworths can help, please call us on 0116 204 7260 or complete the form below