When a business is sold and the sale is completed, the deal is not quite over. Often the sale agreement may contemplate ongoing obligations and in addition to these items, a Seller needs to tidy up their affairs post sale. Some of the more common post settlement matters that a Seller needs to consider include: …
Selling Your Business ‘After The Deal’ – Things to Consider After the Deal Is Done Read More »
In our earlier article, we set out the importance of identifying and reviewing key Contracts and Licences. As part of the business sale process it is likely that the transfer of key Contracts and Licences will be required to procure the sale of the business. Commonly referred to as “assigning” or “transferring”, the process to …
Selling Your Business ‘Doing the Deal’ – Assigning Key Contracts & Licences Read More »
In our previous articles, we have considered the key components that make up the assets being sold as part of a business sale. In addition to goodwill and plant and equipment, the Seller will need to focus their attention upon how they value and structure stock as part of the business sale. Stock is essentially …
Selling Your Business ‘Doing the Deal’ – Dealing with Stock Read More »
What is a Condition Precedent? Condition precedents or “subject to” conditions are common in business sale agreements. A condition precedent is a contractual condition that requires certain things happening or be satisfied before something else can occur. In the context of a business sale, conditions precedent are all of the things that must happen prior …
Selling your Business ‘Doing the Deal’ – Conditions Precedent Read More »
When selling a business, a Seller will need to consider various finance issues as part of the sale process. In another article we will set out some of the considerations that a Seller has in relation to discharging its own liabilities. In this article, we consider the issue of the Vendor providing finance to a …
Selling your Business ‘Doing the Deal’ – Finance Issues – Vendor Finance Read More »
The Requirement to Discharge Liabilities when Selling Your Business In our earlier article we discussed the assessment of the liabilities of business prior to sale. In this article, we look at your obligations as a seller with respect to these liabilities. It is an essential condition of any business sale that the seller discharge all …
Selling your Business ‘Doing the Deal’ – Discharging Liabilities Read More »
Most businesses employ staff. Without them, the business can not provide its product or service. It is therefore crucial that a Seller properly deal with the management of staff and their transition to a new owner. Before a business is sold, a Seller will need to consider what is likely to be required of the …
Selling Your Business ‘Doing the Deal’ – Dealing with Employees Read More »
In our earlier articles we have focussed on some of the steps preliminary to selling your business. In this article, we focus on why you should use a lawyer and when you should use a lawyer as part of the sale process. Why Use a Lawyer as part of the Sale of Business Process? Of …
Selling Your Business ‘Doing the Deal’ – Why You Should Use a Lawyer? Read More »
In our earlier article we set out some of the key issues a Seller must consider when looking to sell their Business. In this article, we consider how you need to organise the assets for sale. Who Owns the Business Assets? The starting point is to confirm what structure you actually use to operate the …
Preparing Your Business For Sale – Who is the Seller and How Do They Sell? Read More »
What Is Locational Goodwill? Beyond $$, your business has value that can be attributed to its intangible assets. That is, there are aspects of a business such as reputation, branding and customer loyalty which together form value for your business. When selling your business, a key consideration that many of your prospective purchasers will consider …
Preparing Your Business for Sale – Locational Goodwill Read More »
