Buying And Selling Businesses Articles
In his latest article, David Heys explores the importance of properly drafted legal paperwork and shares some of his experiences that highlight the risks of cutting corners.
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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.
When selling your business, sorting out the legal issues is essential to ensure things go smoothly. Although each sale is different, the process generally breaks down into 5 key stages...
There was a story published in the media recently about the owner of a convenience store in Hereford who had changed the signage of his shop to look incredibly similar to that of a very famous super market. But what was wrong in him doing this?