The company and commercial team at Hutchinson Thomas have experience in dealing with business purchases in a wide range of areas. We will work proactively on your behalf throughout the transaction to ensure that everything goes smoothly and that your interests are adequately safeguarded.
As well as making sure that you have been supplied with all of the available information about a business, we will ensure that the purchase agreement document includes sufficient warranties and indemnities to protect you legally and financially.
Agreeing to buy a business
Once you have decided to go ahead with the purchase of a business, we will investigate the concern fully to ensure it is a sound investment. As well as raising standard enquiries on your behalf we will also ask questions tailored to the specific business in question to find out what liabilities may arise in the future. We will also check any legal titles involved in the acquisition, verify ownership of assets and advise on any existing contracts that you will be taking on.
The right warranties and indemnities
The warranties and indemnities that the seller makes in the sale agreement are a vital part of your protection as buyer.
Warranties are legal confirmation that the information provided is accurate. You can expect to receive warranties in respect of items such as accounts, tax liabilities, finances and share capital, employee information, intellectual property and possible legal disputes.
Indemnities protect a buyer by requiring the seller to reimburse any losses in respect of specified events. This could be an indemnity to cover a claim in the event of legal action over something that occurred before you acquired the business for example, to pay outstanding tax liabilities or in respect of product liability.
When we act on your behalf in respect of a business purchase we will make sure that the warranties and indemnities provided safeguard you and your investment as far as possible. If necessary, we will ask for them to be re-drafted until we are satisfied that they are robust.
Expert legal advice
At Hutchinson Thomas we have wide-ranging experience in acting for clients in the acquisition of businesses in all areas. We will take you through the purchase process step by step and ensure that you understand the risks and liabilities that you are taking on and that you are protected against them as far as possible.
As well as providing advice in respect of the business, we will also ensure the purchase agreement is in your best interests and that you have adequate advice in respect of ancillary matters such as employment issues and commercial property.
We will work proactively throughout to ensure that the purchase is moved forward as efficiently as possible and we will make sure we are always available to discuss progress and answer any questions you may have.
Hutchinson Thomas is the first law firm in Wales to be awarded the Law Society Mark of Excellence. The firm and many of our lawyers are recognised year on year in the Legal 500 publication as leading individuals in their field.
If you are thinking of buying a business and you would like to speak to one of our expert commercial solicitors, please feel free to call us on the following numbers or fill in our contact form.