Setting up or Selling a Business
Setting up or Selling a Business
There are many decisions to be made when setting up your business. Our lawyers will listen to your requirements and work with your other professional advisers to help you establish the best legal structure for your business. Options include (but are not limited to) partnerships, limited companies and perhaps the use of partnership or shareholder agreements.
Similarly, if you decide to sell or buy a business, you will need specialist advice to deal with all the issues (eg property and employment issues). Our commercial lawyers are dealing with all these issues on a regular basis and will be able to help with all the issues which arise.
Ltd Liability Companies
The Companies Act 2006 is the main piece of legislation regulating companies and other Companies Acts provide further legislation controlling limited companies.
Whether you are forming a company or wanting to know about your liabilities or responsibilities as a Director, Company Secretary or shareholder, Larken & Co are well placed to advise you. Not only are we providing advice every day to companies but many of our Solicitors are directors of local charitable companies and attend client board meetings so they have ‘real-world’ experience.
Shareholder Agreements
It is often the case that businesses or individuals want to work together by jointly forming a company. The agreements made between the businesses or individuals need to be recorded in a shareholder or joint venture agreement to avoid disputes at a later date.
Whilst there is no obligatory content for such an agreement clients often ask us to record how profits will be divided, what will happen if one of the shareholders wants to leave and whether one party might have special voting rights in a particular situation.
Buying/Selling a Business
Every week we act for clients who wish to buy or sell a business. Typically, the sale or purchase of a business will involve many different legal problems eg there will be a property (freehold or on a lease) to deal with; employees to be transferred; work in progress and stock valuations to be agreed.
Most clients find this type of transaction to be complex and yet want the transaction to be concluded quickly. We understand the complexity of these transactions and will help you through the paperwork and liaise with other professionals (eg bankers, accountants, surveyors) who are often needed to successfully conclude the sale and purchase.
Partnerships
There are many reasons why people choose to work together in partnership. As a partnership that has existed for over 120 years Larken & Co is well placed to help anyone considering partnership.
You will often want advice on creating a partnership agreement to record what authority each partner has to make decisions on behalf of the Firm.
Remember that a partnership is often described as being like a marriage except that the only bond is money! Whether starting, running or winding up a partnership, you will need legal advice to help you through all the laws that will affect you.
