Sale of Business Lawyer
If you're considering selling a business, we can help you do it on the most favourable terms possible. We have managed numerous transactions over our tenure and understand what it takes to conduct a successful business sale.
We provide fee estimates for all work-related with the business sale, allowing you to keep control of legal expenses.
Selling a Business in Scotland
Selling a business in Scotland, especially for small enterprises, maybe a complicated process that requires professional guidance from our business sale solicitors. Whether you are an individual looking to sell your first business or an established business owner looking to expand, we help make it all clear and simple.
Allow our business sale solicitors to guide you through the minefield of rules and regulations in order to arrive at a swift and satisfactory resolution with the least amount of fuss.
We operate on a regular basis for clients throughout Scotland and the rest of the united kingdom in connection with the sale of various business entities, including sole traders, partnerships, family-owned firms, and limited companies (for which company law expertise is essential). Businesses of all types are frequently sold in Scotland, including stores, hairdressers, beauty salons, restaurants, pubs, and hotels, as well as professional activities such as doctors or accounting firms.
We can assist with a variety of aspects of the business sale, including business appraisal, due diligence, the sale of shares or assets (such as commercial property), lease transfer, and financing a purchase.
Additionally, we will ensure that you are selling only the assets of any business that you agree to. Additionally, we will address personnel issues and guarantee that your business's employees are appropriately safeguarded during any transition. It is critical to us that we protect you from potential liabilities and minimise any existing liabilities.
During a business sale, our legal firm will:
- Collaborate with you to determine and accomplish your objectives, while adhering to your timeline.
- Identify and mitigate unacceptable risks through a thorough due diligence procedure and thorough documentation.
- Utilise the knowledge of a diverse group of business lawyers to ensure that you are thoroughly advised on all pertinent areas of a transaction, including estate, employment, pensions, commercial, and intellectual property.
- Provide you with a dedicated company specialist who will be accountable for the successful resolution of your business sale.
- From the start, provide you with transparent cost information and projections, allowing you to budget with assurance.
Our Pre-sale preparations Tips
It is critical to prepare your firm for sale in the best shape possible in order to obtain the highest potential price. We will work closely with your tax advisers and accountants to ensure that any pre-sale tax preparation is carried out in a timely manner. Depending on the form of your firm, you may additionally need to consider the following:
- Whether the business's assets are being sold or (in the case of a corporation) the company's stock is being sold.
- Whether any portion of the firm must be 'hived off' prior to a sale, or whether certain assets must be extracted prior to a sale.
- Whether any contractual or regulatory issues must be resolved prior to a sale. These could include determining the necessity of transferring permits/licences, determining
- Whether landlord consent is required to assign a lease to premises, or determining whether crucial commercial contracts have change of control provisions.
- Are your records in order and current?
- Employer-employee relationships are sufficiently robust.
- The amount to which you involve management and other employees in advance of a sales process and engage with the workforce.
- If there are any skeletons in the closet that need to be 'turfed out' in order to avoid potential buyer concerns. Pre-sale due diligence can significantly streamline the sales process and minimise the need for you to offer indemnities to a buyer in the event of any potential complications.
What information am I required to provide before selling a business?
We require standard identification documents, bank statements, and statutory books, but the most important thing is that you communicate your ambitions for yourself and your business. We're here to listen to your ideas, and the more information we have, the more effectively we can assist you in making the business sale a reality.
Solicitors specialising in business sales in Scotland
If you require guidance or legal advice on the sale of a business in Scotland, our experienced and qualified team can assist you. At Complete Clarity Solicitors, we have over 15 years of experience representing both domestic and international businesses. Our clients are at the centre of all we do, and we are committed to providing you with all of the commercial legal services you may require. Contact us directly on 0141 433 2626