Business Sales and Purchases

Asset Sales

If at all possible, a Seller should ensure they are in a position to control the sale process well before the process begins. If you are contemplating the sale of your business we can help you prepare for the process by gathering together all the information you will need to provide to a buyer, ensuring it is up-to-date and even preparing the initial contracts in order to avoid any delay in the actual transaction. This will include information about any property to be transferred, up-to-date accounts and other financial information, key customers and suppliers, employment history of employees (including relevant employment contracts) and information about any current or likely dispute.

Prior to sale it may be a good idea to reorganise the ownership of business assets, ensuring that any that are not to be sold are protected from the sale process. Do any of your intellectual property rights need to be ringfenced prior to a sale? Are the assets to be sold free from finance and other agreements or are those agreements transferable? Could you obtain prior consent (at least in principle) to the transfer of the assets before you even find a buyer? Will any of your employees be affected?

We can discuss with you and arrange any confidentiality or exclusivity agreements that may be necessary to protect you during the negotiation phase of the deal and once the deal is agreed, we can draft your Heads of Terms.

If you are contemplating the sale of your business or have just found a buyer and need to get the ball rolling, contact our Commercial Team for more information.