Why choose Talbots to handle your business or company sale or purchase?

At Talbots Law, we’ve worked with countless companies, partnerships and sole traders across a range of industries, helping them through the technicalities of a transaction. Our solicitors will always provide sensible, down to earth advice that works for you, delivered in a way that’s easy to understand.  We will guide you through the various stages of the deal to ensure that you reach the best possible outcome every time.

Our Corporate & Commercial Team of solicitors will co-ordinate all the aspects of the transaction and co-ordinate with other specialist departments, including our team of commercial property solicitors and employment solicitors if your deal calls for other specialist input. When it comes to legal services, you can count on us to be able to provide a full legal service to you and your business.

Buying or selling a business FAQ

How long do the legal aspects of buying or selling a business take?
This varies greatly from case to case but an average timescale would be about 3 months.  Depending on the level of the seller’s preparation for the transaction, this timescale could be significantly reduced.  We can advise you as to the best steps to take to prepare a business for sale, and this preparation could start many months or even years before a proposed sale.

What do I need to consider when buying or selling a business?
Before you sign any terms of agreement, or disclose information sensitive to your business, it’s important that you put in place a Non-Disclosure or Confidentiality Agreement.  It is crucial that you assess the risks and understand the potential liabilities of your transaction.  Early preparation for sale may well enable you to set up your business so that you are in the best position to take the greatest advantage of tax reliefs on the sale and ease the path of any future sale..  Depending on the nature of the business and deal structure it may be possible to preserve assets, eg freehold property, with minimal effect on the business sale value.

We will help you consider crucial factors such as:

• How will it affect your employees?
• Should you take cash out of the business before sale?
• Could you preserve property assets and retain an ongoing income post sale?

These are all aspects which our experienced Corporate & Commercial Team of solicitors will consider with you, sometimes long before any sale takes place.  They will be able to guide you through the options, and work with you and your tax advisers to decide which of the options suit you best.

What is the difference between a share and an asset purchase?

A business may be acquired by way of a share purchase or an asset purchase.

If the transaction is a share purchase, the buyer acquires the shares of the company and carries on the business of the Target Company,  the buyer, therefore, acquires all of the Target Company’s assets, obligations and liabilities (whether or not the buyer was aware of them).

If the transaction is an asset purchase, the buyer selects the assets and liabilities it wishes to acquire from the seller (explicitly excluding those which it does not wish to acquire) and purchases them, together with the business in which those assets are used (the Target Business).  It does not acquire the shares in the company carrying on the Target Business.  An asset purchase is therefore also commonly know as a ‘business purchase’.

How much will it cost?
At Talbots Law, we pride ourselves on our strong communication skills. From our first initial meeting, we’ll provide you with an estimation of the overall cost for legal fees, and we’ll never raise our legal fees without warning. Our main priority is to provide you with pragmatic advice that meets your business needs in a sensible time frame, and in the most cost effective way..

Whether it’s a merger, an acquisition or disposal, speak to our Corporate & Commercial Team at Talbots Law on 0800 118 1500 for expert advice you can trust today, or contact a member of our team directly.