There are a host of things to consider during the sale of a business. Whether you are buying or selling, steps need to be taken to protect confidentiality, ensure transparency and safeguard the future of the business and employees, whilst making sure the transaction proceeds smoothly.
Where rhw can help
From Due diligence to disclosure letters, heads of terms and confidentiality agreements, rhw solicitors commercial team are able to advise and assist at every stage of buying or selling a business.
Some of the main areas involved with the sale and purchase of a business. rhw’s Corporate team can provide legal advice across all of these areas.
Heads of Agreement
Heads of Agreement are used across the commercial sector. The Agreement summarises the key areas which have been, initially, agreed upon. Though it is not normally intended to be a legally binding, we would advise that legal advice is sought before negotiating this area. Sometimes certain points can be considered as confidential or have a dramatic effect on final terms. Factors that a lay person may not recognise at the time.
Heads of Agreement are used across the commercial sector. The Agreement summarises the key areas which have been, initially, agreed upon. Though it is not normally intended to be a legally binding agreement, we would advise that legal advice is sought before negotiating this area. Sometimes certain points can be considered as confidential or have a dramatic effect on final terms that someone not experienced may not recognise at the time.
Just to address a few of the common areas that get addressed in Heads of Agreement:
- Property: Not surprisingly the property assets or commitments associated with a business can be significant.
- Confidentiality: Given that sensitive information (financial and otherwise) will be revealed during the process, the parties involved will often want to put a Confidentiality Agreement in place early on in discussions.
- Exclusivity: Many people have experienced the incredibly frustrating experience of being