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For Business news

How do I sell my business?

Selling your business, whatever the size, can be a stressful and drawn out process. However, with the correct advice and guidance from a commercial lawyer, the process of selling your business can be made easier. No business sale is ever the same therefore the following information is purely a guide. Outlined below are a few pointers to think about when going through the notions of selling your business.

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What is the Partnership Act 1890?

Business partnerships are regulated under a little known law from 1890 – The Partnership Act. Under the Act a ‘partnership’ is formed when two or more people join together in business to share a profit. This does not include LLPs (Limited Liability Partnerships) or Limited Partnerships. This can be established by an oral contract or simply by conduct. It is possible, therefore, to enter into a partnership as defined by this act without meaning to. These inadvertent partnerships are referred to as ‘Partnerships at Will’ and are governed by the Partnership Act 1890.

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Avoiding Deadlock with a Shareholder Agreement 

There is no law that states that a shareholders’ agreement must be put in place when a business is first formed but there are many reasons why it is advantageous. Nobody can predict whether a business relationship will remain harmonious, everybody hopes it will and, in most instances, they do, but what happens when circumstances do change? At Lawson-West a few of our clients have experienced this, it is never simple to solve, and we want to educate individuals and help to mitigate this risk.  

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What our clients say

The face to face meetings and explanations of contract, details given in such a way that it was easy to understand the legalities. They were professional and courteous at all times. We were extremely impressed with the service given by Palbir and Rebecca, their knowledge and assistance helped us through. They were a pleasure to do business with, and would highly recommend you to all others.

Mr & Mrs B, Wigston, Leicestershire. May 2018

Rebecca  was very friendly and kept us fully informed throughout.

Mr & Mrs C, Blaby, Leicestershire. May 2018

Palbir Vadesha- you are a credit to Lawson West.

Mrs N U

Palbir Vadesha you are very professional and impressive.

Mr P D

Palbir, I would like to say that you’ve been extremely helpful during the whole (quite stressful) experience your calm manner helped ease my stress. You have been efficient throughout and always on hand with prompt responses to my phone calls and emails. I would gladly recommend your service to anybody else who requires legal advice.

Mr P W

Palbir Vadesha has been wonderful with us throughout the process of selling our care home. We would recommend Lawson-West Solicitors to anyone selling a business.

 

Mr & Mrs B, Leicester, Leicestershire, March 2018

I'd like to say a big thanks to Palbir, and your team at Lawson West, for all the support provided to me.

Miss P, Leicester, Leicestershire. January 2018

Palbir, I just wanted to say thank you for sorting out the work you did with regards to the Power of Attorney in a quick and friendly manner.

I really appreciate it.

I would have no hesitation in using your services again or recommending you to friends and family.

Mr S, Leicester, Leicestershire. February 2018

Palbir you are a credit to Lawson West.

Nicola Patrick- Upton and Pegg Limited, January 2018

 Palbir, my asset sale co-ordinator was very impressive. She was the best!

 

 

 

Mr D, Potters Bar, Hertfordshire. December 2017