Buying a Business?

Buying an existing business instead of starting one from scratch can make good sense. You can skip the precarious start-up phase and hit the ground running. That’s exciting, but it comes with a whole lot of new responsibilities, new premises, new staff, new customers, perhaps a whole new industry.
Thursday, 31 May 2018

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As this is going to be your livelihood, you’ll need to know exactly what you’re getting into. Paula Lines and her team at The Law Shop provide expert legal advice on all of the aspects of purchasing a business, from the purchase agreement to the lease, so you can complete your business purchase with confidence.

Once you’ve done all the research and found the business you want to buy, it’s time to formally register your interest. From here on, you can start due diligence — finding out exactly what assets, liabilities and commercial potential the business has. Before sharing this detailed information with you, the seller may insist that you sign a non-disclosure agreement to prevent you from using it for any purpose other than buying the business.

“Any documents you are asked to sign at this early stage should be shown to a lawyer to ensure you are not making any unwise legal commitments. At The Law Shop, we can explain it all to you in everyday terms. We will prepare all the legal documentation you need for the purchase and guide you along in the process from start to finish,” Paula says.

“If your new business is a franchise, we can go through the Franchise Agreement with you, and help you understand all aspects of it so there are no surprises later on.”

Does your new business require legal advice about whether to operate through a company, a partnership or as a sole trader; about business agreements, or other legal issues? Get the ball rolling and give The Law Shop a call for an initial consultation. It can even be done via Skype.

Good advice is worth far more than it costs and Paula and her team at The Law Shop will help direct you toward success. Call them on 0800 LAW SHOP (0800 529 7467) or email us here

 

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