Buying or Selling a Business Lawyers East Lothian
Buying or selling a business can be a complex and expensive process. If you are thinking of a company purchase or sale, you need to ensure you have an experienced professional team of advisers – including accountants and lawyers– with you from the start.
As an established firm in our community, we have extensive awareness of the local commercial property markets and strong relationships with firms operating in this sector. We combine this with our expertise in commercial property law to provide you with a high-quality, comprehensive service.
For advice and support with your business purchase or sale, contact our team today.
Business Lawyers in North Berwick, Dunbar and across East Lothian
Employment contracts are a key concern when buying or selling a business. You will need to comply with the Transfer of Undertakings (Protection of Employees) Regulations (TUPE), which safeguards your employee’s rights. This is a complex area of law. We can support you through the process and advise on how best to minimise risk and cost.
Most business sale contracts will include terms that prohibit the seller from setting up a competing business within a specific location and timeframe. Restrictive covenants must be carefully considered to balance the interests of both the buyer and seller.
Heads of Agreement
The Heads of Agreement include the fundamental terms that the buyer and seller have agreed on, such as the price, what is included in the sale and details of warranties and indemnities. These terms must be negotiated with care and the document properly drafted to ensure each party’s position is clear and to avoid future disputes.
Due diligence is carried out to identify any unexpected issues with the business. It is an essential aspect of the transaction for both parties. Our lawyers can take responsibility for this and ensure it is carried out thoroughly.
Sale of goodwill
Goodwill refers to the value of the business’s reputation. It is a difficult asset to quantify; however, it is a crucial part of the company you are buying or selling, so our lawyers will make certain it is calculated accurately.
Commercial property purchase
There are many legal and practical issues involved in buying a business premises. Our commercial property lawyers will guide you through the process, with a strong focus on your business objectives, desired timescale and budget.
Commercial property leases
Leasing commercial property is a big commitment but can offer significant financial reward. From finding the right property to completing the deal, we will support you at every stage.