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A business purchase lawyer is advisable when purchasing any business

When purchasing a business it is advisable to contract a business purchase lawyer to make detailed checks on issues such as ownership of assets and potential liabilities.

Buying a business can be a great opportunity to strengthen your market position, diversify into new markets and accelerate growth. But it can also be a high-risk step, investing substantial amounts of money into a business that could produce nasty surprises.

The key to success is to find out as much as you can about the business you are buying, protect yourself against the main risks and convince the vendor to sell to you for a good price. A business purchase lawyer will help plan your offer and establish a valuation for the business you are acquiring.

Buying a business is a complex task which requires skill and experience to identify potential pitfalls and to provide innovative solutions. Buying a business is nearly always more complex in practice than it seems over an initial meeting. Good legal advice at an early stage is essential to avoid valuable time and money being lost. The volume of issues which will need to be considered when making a business purchase are vast. The repercussions of failing to meet certain legal obligations make appointing a highly skilled and competent law firm vital.

Most business purchases are as TOGC’s (Transfer of a Business as a Going Concern) and transactions include apportionment of purchase price, title of business property, debtors and creditors, restrictive covenants, stock-in-trade; employees, accounts and accounting procedures, trade marks, vehicles and equipment, supply contracts, business finance and tax.

Myers Lister Price business purchase lawyers can advise and assist, in a cost effective way through an entire business purchase. We can identify and deal appropriately with any relevant issues. We can ensure legal formalities are accurately completed and any financial issues have been considered with your best interests in mind. We look beyond a single transaction and always ensure there are no issues which might cause problems at a future date.

For more information on buying a business please contact our business purchase lawyers at Myers Lister Price Solicitors on 0845 0738 445 or email info@mlpsolicitors.co.uk



Posted on January 10th

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