Tag Archives: Buying a business

The benefits of buying an established business

By Ben Ironmonger, Head of Company and Commercial, Scott Bailey LLP Buying or selling a business is a significant step that requires careful planning. As a company and commercial solicitor at Scott Bailey LLP, I often work with clients trying to navigate the complexities of these transactions. Ensuring that every important legal aspect is addressed is vital to protecting your interests and securing a successful outcome, and we can certainly help with that. Whether you are looking to expand by acquiring an established business, or preparing to sell the company you have built, there are many factors to consider. Whilst buying an existing business can offer distinct advantages, saving you the time, stress and effort of starting from scratch, there are still plenty pitfalls to avoid. Similarly, selling your business requires careful preparation to help you maximise its value, whilst … Continue reading

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The importance of due diligence

What is Due Diligence? Due diligence is the process of detailed checks which are carried out before parties enter into a legally binding contract or transaction, such as buying a business. Thorough Due Diligence should help the buyer glean key information about the target business or project, which will help to flag any potential risks or pitfalls and provide the confidence required to make the right decision to pursue the transaction. The importance of Due Diligence Due diligence stems from the Latin proverb ‘caveat emptor’, which loosely translated means ‘buyer beware’. There is no law which compels a seller to disclose flaws or issues with a business or property, however, valuable information can be obtained by the buyers by encouraging sellers to engage with the due diligence process. In respect of the purchase of a business, the added value in … Continue reading

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