Tag Archives: business law

What should you consider when selling a nursery business?

Posted on 05/04/2023 by Ben Ironmonger

Are you thinking about selling your day nursery? If so, you may well have lots of questions about the process and what’s involved. Read on for a summary of some of the key steps you’ll need to take to sell your nursery business successfully. Step 1: What are heads of terms? Often, the first step in the sale process for most businesses is agreeing the heads of terms. These outline the key details of the transaction, such as the price, payment structure, and proposed timeframe. You’ll need to review and agree to these terms before moving forward. Some heads are intended to be binding, whilst others are more guidelines to keep everyone on track. Our experienced company and commercial solicitors in Hampshire can help prepare or review and negotiate these to help right from day one of the transaction. Step … Continue reading →

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Things to consider when taking on a franchise business

Posted on 23/02/2023 by Ben Ironmonger

Franchises can provide great opportunities to own your own business, with the benefit of support and guidance being provided by an established brand. In this note, Ben Ironmonger takes a look at some of the key points you should consider before making the decision to invest in a franchise. If you are considering taking on a franchise, the commercial team at Scott Bailey LLP can help. Our commercial lawyers in Hampshire, can review your proposed franchise agreement and advise you of the pros and cons, as well as being able to negotiate with the franchisor on your behalf should you wish. Our business solicitors offer fixed fees for contract reviews so that you have the benefit of knowing the extent of your fees before we put pen to paper. Should your franchise require offices, shops, warehouses or other premises, our … Continue reading →

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Top tips for selling your dental practice in 2023

Posted on 29/12/2022 by freestyle

The period after Christmas and New Year can be great for reflection, and planning for the months and year (or years) ahead. If you are thinking about selling your practice in 2023, but aren’t quite sure where to start, here are some top tips to consider. 1. Getting a Valuation when selling dental practice Most people wouldn’t consider selling a house without a proper valuation (or three), so why would you sell your dental practice without one? There are lots of points to consider here, and a normal business valuation won’t be applicable. Whilst a business is only worth what someone is willing to pay for it, you should never accept a valuation based on the opinion of the buyer (they obviously will want to pay less!). 2. Get specialist adviceWe’ve dealt with a number of matters where a perfectly … Continue reading →

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What are statutory books?

Posted on 12/02/2021 by freestyle

Ben Ironmonger, company and commercial solicitor at Scott Bailey LLP, considers the importance of keeping properly maintained statutory books. Whatever industry your business is in, if you run a private limited company, you are required by the Companies Act 2006 (the “Act”) to maintain registers holding important information. A compliant set of registers will contain details of shareholders, share transfers, and officers (directors and secretaries) of the company. Many of these details may not be available via public registers such as Companies House. The various registers are usually referred to as “statutory books” (or “stat books”) and maintained by the company secretary or, if the company does not have a company secretary, then by a director or other person appointed to take responsibility for ensuring they are up to date. The statutory registers include the register of members, register of … Continue reading →

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What are directors’ duties?

Posted on 30/10/2020 by freestyle

In this back to basics article, we take a brief look at directors’ duties. Whilst directors of companies have always had certain duties placed upon them, the Companies Act 2006 set out seven key duties owed by a director to its company:   (a)   Duty to act within your powers (s171) (b)   Duty to promote the success of the company (s172) (c)   Duty to exercise independent judgment (s173) (d)   Duty to exercise reasonable care, skill and diligence (s174) (e)   Duty to avoid conflicts of interest (s175) (f)    Duty not to accept benefits from third parties (s176) (g)   Duty to declare an interest in a proposed transaction or arrangement (s177) These duties are contained at Chapter 2 of the Companies Act 2006. Breach of directors’ duties Failure to uphold director’s duties will result in a breach by the director(s) concerned. Often … Continue reading →

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Our Company and Commercial team builds on its success

Posted on 24/09/2019 by freestyle

Scott Bailey are pleased to announce that Ben Ironmonger has joined their expanding Company and Commercial Team to enhance the range of skills on offer to local businesses. Ben is a solicitor with wide experience in the field of company and commercial law both contentious and non-contentious. His specialist skills means that he can offer expert advice whether buying or selling a business, setting up a new enterprise, dealing with commercial contracts, partnership agreements or shareholders agreements with a range of other areas in between. He has a particular expertise in intellectual property and IT contracts. Although new to the area, Ben has long-standing local connections. He and his family are looking forward to putting their roots down here and enjoying all that Lymington and the New Forest have to offer. Ben said “It will be great to be part … Continue reading →

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