Tag Archives: Commercial Law

A guide to buying and selling a veterinary practice

Posted on 08/10/2025 by freestyle

The sale or purchase of a veterinary practice is likely to be one of the largest financial transactions that a vet will enter into. Whether selling or buying, it is important for vets to understand the process involved. Is your practice ready to sell? Prospective buyers will expect to see information regarding the practice such as existing contracts, maintenance records and property used and/or owned by the business. A buyer will want to learn about all ongoing liabilities it is likely to take over. It is important therefore that, prior to marketing the practice, the seller ensures that the practice information and records are in good order. Marketing the practice Many sellers will use a specialist agent to market their veterinary practice. It makes sense to use an agent who is experienced in marketing veterinary practices. Such agents act as … Continue reading →

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Level the Playing Field: Empowering SMEs Through Strategic Contract Review

Posted on 25/06/2025 by Ben Ironmonger

Prime Minister Sir Keir Starmer has been quoted as saying: “In an era of radical uncertainty we can no longer take peace for granted, which is why my government is investing in our national security” and the UK has pledged to spending a whopping 5% of the UK’s GDP on “national security” by 2035. But what does this mean for UK business? In today’s fast-paced commercial environment, supply agreements and similar contracts are more than just paperwork, they’re the backbone of your business operations. Whether you’re a manufacturer, distributor, or service provider, having a robust and legally sound written contract is essential to mitigate risk, ensure continuity, and maintain strong commercial relationships. At Scott Bailey LLP, our experienced commercial solicitors work with small and medium-sized enterprises who serve as essential cogs in critical supply chains such as defence, particularly involving … Continue reading →

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What to consider when thinking about investors for your SME company

Posted on 01/04/2025 by Ben Ironmonger

Private equity investors can become involved in a company at any stage of its lifecycle. This could be during the early stages as a start-up to raise essential capital, or later on to support planned growth and expansion into new markets. Introducing an investor into your business typically affects the balance of power within the company, as many investors will seek some form of equity return in exchange for their investment. This might involve the allotment or transfer of shares to the investor, which often come with voting rights and/or dividend rights, thereby diluting the existing shareholders’ voting power. Common Mistakes in Private Equity Deals Key Considerations Before Engaging with a Potential Investor Before starting discussions with a potential investor, it is advisable to enter into a confidentiality agreement, or non-disclosure agreement, to protect any commercially sensitive information shared during … Continue reading →

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Expert yacht design agreements with Scott Bailey’s marine law team

Posted on 06/03/2025 by Ben Ironmonger

When drafting yacht design agreements between owners and designers, it’s important to focus on the design requirements, and ensure all parties understand their rights, obligations, and liabilities. At Scott Bailey LLP, our Marine Law team, led by Partner Ben Ironmonger, specialises in crafting comprehensive and clear legal agreements that protect your interests throughout the process. Key parts of yacht design agreements Payment terms: Not normally the first clause of a design agreement, but it is so important for all parties to be on the same page in terms of how and when payment is made. For projects expected to run for months and years, it is vital for design studios to incorporate clear, unambiguous payment terms into their design agreements. Design specifications: Clearly define the type of yacht design and its main features to prevent misunderstandings or disputes. Begin with … Continue reading →

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Why every business partnership needs a written partnership agreement

Posted on 07/02/2025 by Ben Ironmonger

If you run a business as two or more partners, having a written partnership agreement is critical. This legally binding document outlines how your business operates and protects all partners from disputes and unforeseen challenges. But why is it essential, and what should be included to ensure your business is protected? The Importance of a Business Partnership Agreement In today’s ever-evolving world, businesses face increasing pressures, from regulatory changes to resource constraints. A robust written partnership agreement provides the clarity and structure needed to avoid disputes and ensure the smooth running of the business. Without a written partnership agreement, your business may default to being governed by the outdated Partnership Act 1890. This legislation offers only modest protection to modern business partnerships and can expose your business to unnecessary risks. For example: A bespoke partnership agreement mitigates these risks and … Continue reading →

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Top 5 points to consider when procuring AI tools for your SME business

Posted on 16/12/2024 by Ben Ironmonger

Artificial Intelligence (AI) tools are revolutionising the way businesses operate, offering solutions that can streamline processes, enhance customer experiences, and improve efficiency. Whilst the speed at which this is happening can be quite frightening to think about, for small and medium-sized enterprises (SMEs) in England, investing in the right AI tools can provide a competitive edge. Procuring and integrating these tools is not without its challenges and risks, and it’s important to approach the process with a clear understanding of the legal and commercial implications. Here are five top considerations when procuring AI tools for your business: 1. Understand Licensing and Ownership AI tools are typically provided under licensing agreements, rather than outright ownership. It’s crucial to understand the scope of the licence you’re purchasing: Pay particular attention to whether the AI tool allows you to retain ownership of any … Continue reading →

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What is the difference between reasonable endeavours and best endeavours?

Posted on 19/06/2024 by Ben Ironmonger

When entering into a commercial contract, the language used to define obligations can significantly impact the parties’ responsibilities. Terms like “reasonable endeavours,” “all reasonable endeavours,” “best endeavours,” and “best commercial endeavours” are often included to set the standard of effort legally required. Understanding these terms is crucial for ensuring compliance and protecting your interests. Here at Scott Bailey LLP, our company and commercial solicitors in Hampshire are dedicated to providing clear guidance on critical contract terms like these so that you can focus on running your business. Reasonable Endeavours Definition and Standard “Reasonable endeavours” is a term used to indicate that a party must take one or more reasonable courses of action to fulfil an obligation, without sacrificing its own commercial interests significantly. This is a balanced approach, allowing a party to fulfil its duties without going to extreme lengths. … Continue reading →

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Navigating Software as a Service (SaaS) agreements

Posted on 28/05/2024 by Ben Ironmonger

At Scott Bailey LLP, our Hampshire commercial lawyers advise on a range of commercial contracts to meet your SME business needs. In today’s digital world, Software as a Service (SaaS) agreements are essential for both software providers and users. SaaS is rapidly replacing traditional locally hosted software licences, offering greater functionality and flexibility. Our IT Solicitors assist both SaaS providers, and business end-users, providing legal advice on a range of cloud based applications. Our expertise helps suppliers and developers design appropriate and proportionate agreements that protect their interests in a commercially sensible way. For customers, we can identify risks, advise on service levels, and assess third party IP rights as well as other areas of risk in the legal documentation and situation. What is SaaS? SaaS, or Software as a Service, is an internet-based software delivery model. In other words, … Continue reading →

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Companies House filing fee increases

Posted on 29/04/2024 by Ben Ironmonger

Following a recent announcement, Companies House will be increasing its fees from 1 May 2024. Whilst the increases on the one hand appear significant, they haven’t actually been increased for some years, and hopefully additional funding will help enable Companies House to bolster efficiency, and the transparency and reliability of filed business information, in line with the broader objectives of the Economic Crime and Corporate Transparency Act 2023 (ECCTA). That said, it is important for SME business owners and operators to be aware of the changes and to avoid being caught out. The fee increases extend to various entities, not just limited companies. For example, limited liability partnerships and overseas companies. Some of the key digital filing fee changes include: A full list of the changes can be found here: Changes to Companies House fees. Whether you are an aspiring entrepreneur, … Continue reading →

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Houseboat ownership: a legal guide

Posted on 19/02/2024 by Ben Ironmonger

Across the UK, but particularly in the vibrant hub of London where property prices soar and availability dwindles, the prospect of living on a houseboat may beckon to those in pursuit of an affordable and distinctive lifestyle. Before navigating the waters of this increasingly trendy housing option, potential buyers should acquaint themselves with the legal intricacies associated with houseboat ownership. The Boat Ranging from purpose-built vessels to ingeniously repurposed barges or motorised crafts, it’s fair to say that boats you can live on come in a range of shapes and sizes. Many traditional houseboats have no self-propulsion, so buyers must think carefully about the hassle of moving a houseboat, if required, as costs will rack up! Houseboat Moorings To live on a boat full-time, you need to be either “continuously cruising” or have a “residential mooring”. Securing a suitable mooring … Continue reading →

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