Your Legal Guide To Selling a UK Business

Selling your business can be stressful and is a challenging task to say the least. There are lots to consider; whether that be tax, the legals or just being aware of how secure your future is going to be.

Statistics show that without the right professional support in place, about 50% of sales negotiations will either stall completely or take considerably longer than they should**.

The good news is that everyone involved in the sale of a business is usually working towards the same shared goal, a fast sale, and a lucrative outcome.

Our award-winning commercial law solicitors have been through this process many times and have a wealth of experience in supporting a stress-free transaction.

How Jamieson Law can help you sell your business.

The legal team acting on behalf of your potential buyers will be taking a very deep dive into how your company is set up. Any issues uncovered during this process will slow down negotiations, or even devalue your company. We can get your business prepared for this stage long before you go to market, ensuring your business is as attractive as possible to buyers from the outset. We’ll complete a rigorous due diligence process on your company assets and advise you where improvements need to be made.

Typically, we’ll look at:

Intellectual Property:

Is your brand protected? Are you communicating about the copyrights you own? Are your trademarks registered correctly (or at all) and do you own your domain name? We’ll check all of this for you, and if something is missing, we’ll help you to sort it.

Contract reviews:

Working closely with you, our team of contract lawyers will review your existing documents and ensure that they are up to date, cover all the bases and are compliant with current legislation in your region. If something is missing, we will create bespoke contracts and agreements that are specific to your business, delivering robust legal assets that support your objectives.

Shareholder agreements:

A shareholder agreement exists between your shareholders and details how the business should be run and the rights and obligations of each shareholder. If you have shareholders, but not a shareholder agreement, take our advice and get everything in writing! They are critically important documents and any flaws in them will be quickly picked up by a potential buyer. We can review your existing shareholder agreements for you. If you don’t have anything in place, we specialise in drafting agreements for all types of businesses.

Investor agreements:

An Investor Agreement is similar to a Shareholder Agreement but also covers how, or if, an investment is paid back in the event of a sale.

Data Protection:

By now, we should all know about the importance of protecting our business data. The cost of failing to do so can be high, so it’s well worth making sure your business complies with the principles, rights and obligations of the General Data Protection Regulation (GDPR). Taking into account the nature of your business and the type of data you handle, we will identify any areas of weakness or non-compliance. We will then provide you with targeted advice and a plan of action to get you back to full GDPR compliance.

HR support.

Navigating your legal obligations as an employer can be incredibly complex. More so when it comes to selling your business and you have a workforce to consider. That’s why Jamieson Law provides UK businesses with bespoke employment law advice and HR legal support. We’ll review your existing employee contracts and handbooks and in a world of ever-changing employment law, we can then provide updates where needed.

Get in touch!

If you think you would benefit from some 1:1 advice on anything mentioned above, or any other legal matter, please take advantage of our free 15-minute legal advice calls. We understand the importance of having someone on your side when you’re making big decisions. Without any obligation to take things further, you can have a chat with one of our team, tell us about yourself and ask us your questions.

You can book a slot here.





** Source: Benchmark International

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