Business Acquisitions

Running a business can be fraught with difficulty from the offset – red tape and bureaucracy, mountains of paperwork, Health and Safety, employment law and so on, and so forth.

Buying the business in the first place is a long and complex process requiring expert advice – you’ll put your heart and soul (and very possibly your life savings and sizeable borrowings) into a business, so you need to make sure you get it absolutely right before you sign on the dotted line.

If you’re looking for advice, please call 0121 355 8885 during business hours and a solicitor specialising in business law can be on the phone with you in minutes.

Of course, it’s not just the dotted line but the bottom line which is vital, and this is why it can be tempting to try to cut costs – but some areas are just too crucial to scrimp on and legal advice is one of them. Sure, you’ve seen the books, the building is leased so it’s just fixtures, fittings and goodwill you’re buying… Isn’t it? IS it, though? Are you taking on staff? Previous staff problems – and tribunals? Are the owners likely to set up a rival operation nearby? Have the accounts been presented in an overly favourable way? Such issues could be the difference between success and failure so don’t leave them – and countless others – to chance. You need the expert legal team at N Legal with you, ensuring you get it right.

Business decisions made easier

The future success of your new venture can depend on the many decisions to make and potential pitfalls to swerve at this stage, such as:

Due Diligence

Ensuring proper investigation is made, facts checked and risks assessed. Covering almost everything from finance to property; people to environmental; contracts to data protection – otherwise known as going in with your eyes wide open. As far as what should be investigated, this should be tailored to your specific requirements by your legal team who are out for YOUR best interests.

Stocks and shares or assets

If the business is a limited company or a limited liability partnership, you’ll need to decide whether to purchase the assets of the company or the shares in the company. There are advantages and disadvantages to both options and your dedicated, expert team at N Legal will help make the right choice for you.

TOGC

Transfer of business as a Going Concern: The buying of a business that is still trading, and any possible VAT implications.

TUPE

Transfer of Undertakings for the Protection of Employees. Clearly, this can impact massively on the purchase and future of your business – you need proper legal help here.

Assignment of existing commercial lease

This will need thoroughly checking so you’re not getting tied in to something that could end up costing you more or isn’t fit for purpose…

That really is just the tip of this particular legal iceberg. Whatever you do, don’t leave it to chance, make sure you get it right first time. With N Legal’s business specialist solicitors behind you, guiding you through what can be an incredibly complex transaction, you’re free to focus on what you do best and to get ready for success.

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