For most business owners, selling a business (or selling a portion of the business to a co-owner) will likely be one the most significant financial transactions of their life. It is important that sellers get the right legal advice to ensure that their interests are protected, legal risk is minimised, and their personal objectives are borne out by the legal structure and documentation. Important considerations include:
- confidentiality and providing information to potential buyers / investors
- whether the sale is structured as an asset sale or share sale
- whether any assets are retained by the seller, e.g. intellectual property or real estate
- appropriate allocation of risk in the sale agreement, for example seller warranties
- dealing with employee entitlements
- seller’s ongoing role (if any) in the business
- whether a shareholders agreement is required to manage the rights & obligations of a new co-owner
- tax issues
Every business (and every seller) is different and will have its own unique set of issues and special considerations. We provide experienced, flexible and creative legal advice tailored to your circumstances and objectives.