Company Commercial Law

Buying & Selling Companies

Striving to make the process of buying or selling a company as straightforward and understandable as possible
We help you make well-informed decisions concerning your deal.

Why seek legal advice

When buying or selling a business or company there are so many aspects to consider it may be difficult to see the whole picture.

We help you make well-informed decisions concerning your deal. As a buyer, you should understand exactly what you are acquiring and any risks or liabilities you may be taking on. As a seller, it is key that your right to receive the sale proceeds is protected, any contingencies are clearly spelled out, and any future liabilities are clear to you.

  • Comprehensive legal due diligence
  • Limit your liability/exposure
  • Identify risks and issues
  • Ensure terms are recorded
  • Protect your investment
  • Simplify complex issues
buying a business lawyer
Commercial contracts solicitor

Why choose HK Law?

Our lawyers take the time to get to know you and how your business operates. With decades of experience between them, the team at HK Law has a wealth of expertise in advising on business and company sales and purchases, from smaller family-owned businesses to multi-million pound international transactions.

  • Experienced and specialist lawyers: Our team is highly experienced in advising on complex and high-value transactions
  • Practical and cost-effective solutions to issues that matter most to you
  • Commercially-minded and pragmatic approach: Ensuring that the advice we give works for you and your business.
  • We get to know you, your goals and how your business operates
  • Approachable and supportive team: We want our clients to succeed and we pride ourselves at being contactable whenever our clients need advice.
  • Clear understandable advice
Liam Voysey, HK Law

Your questions answered

Liam Voysey – Solicitor, Corporate & Commercial Law Team
  • Selling my company or selling my business. What is the difference?
    When selling a company you are selling your shares in the company. The company will still own its assets and be subject to the same liabilities as before the sale. When selling a business, the buyer and seller must agree what assets and liabilities are to be transferred. Some liabilities and/or assets may remain with the seller after the sale.
  • The buyer of my business is paying me in instalments. How can I protect myself?
    The safest option is, of course, to receive payment in full on completion. Where only part of the purchase price is being paid upfront, there is a risk that the buyer will be unable (or will fail) to pay the balance. We can advise on how to protect or secure any delayed payments, given the particular circumstances of your transaction.
  • What should I consider in order to prepare my company for sale?
    It will save time and cost in the sale process if you ensure so far as possible that the company’s affairs are in order before a buyer’s due diligence exercise. We can provide a checklist for you, and ensure that the company’s commercial and employment contracts, statutory registers and Companies House records are compliant and up to date.
  • What is a warranty?
    Warranties are statements given by the seller of a business or a company to the buyer, regarding the state of affairs of the business or company. A warranty is an important way in which a buyer can be sure of the value of what it is buying. For the seller, it is important to limit its liability by notifying the buyer of any issues before the sale.
  • What is an earn-out?
    An earn-out is a mechanism which entitling a seller to receive additional payments from the buyer following the sale, depending on the performance of the company post-sale. In this way, a seller can benefit from growth in the business after the sale, provided the specified targets are met.
  • What is legal due diligence?
    When buying a company or a business it is important that you know what you are buying and any associated risks or liabilities or encumbrances. When carrying out legal due diligence we aim to flush out any potential problems or liabilities so that you can make an informed decision on whether to proceed, and at what price.
  • Do I need ‘Heads of Terms’?
    Heads of Terms are sometimes prepared at the initial stages of sale or purchase transactions, to summarise the principal terms agreed. This can be a useful tool to flush out any misunderstandings or points of disagreement at an early stage, which saves time in preparing the transaction documents, and therefore save costs further down the line.
  • I have bought shares in a company. What do I do now?
    When a company changes hands the company’s statutory registers will need to be updated, board resignations and appointments, changes to the persons with significant control, registered office and/or accounting reference date, must be filed at Companies House. New articles of association may also need to be adopted. We can help you get these things in order.

By Darren Francis, Associate Solicitor

Find a Company Commercial Law expert in your area

HK Law Blandford office

Blandford

The newest of the HK Law offices and proud to service the people and businesses of Blandford and the surrounding area.

HK Law Bournemouth office

Bournemouth

Our Bournemouth Solicitors, based at our office in Southbourne, are here to support you with all the personal and business legal needs.

Somerset Solicitors

Crewkerne

HK Law’s history in Crewkerne dates back to 1749, making it the longest standing solicitors firm in the country.

HK Law Blandford office

Dorchester

With offices at 40 High West Street and 1 Colliton Walk, our expert team provides a comprehensive range of legal services to the people of Dorchester and surrounding areas.

HK Law Parkstone office

Parkstone

Our Parkstone solicitors, based in the heart of Ashley Cross, are here to offer you expert local legal advice.

Poole Solicitors

Poole

Our HK Law team in Poole assist local clients with their legal requirements.  Local to you, we are always on-hand to meet up whenever it suits you.

HK Law Swanage office

Swanage

HK Law have held a strong presence in Swanage for generations. When it comes to client care, we pride ourselves on a modern approach backed up by traditional values.

HK Law Wareham office

Wareham

Wareham is the office from which HK evolved. Today our Wareham office prides itself on offering the town a full range of legal services whilst keeping things simple and personal.

Our Company Commercial Law team

Associate FCILEX

Managing Partner

Chartered Legal Executive

Private Client Executive

Partner

Consultant

Conveyancing Executive