How can I make sure that the business that I am buying does not have any hidden problems or debts?
Buying a business can be a lengthy and complicated process. One aspect of this involves undertaking checks to ensure all relevant information, including publicly available information and also any hidden problems or debts, are made known to the buyer. This process is known as due diligence (DD) and can be divided into three parts: 1) legal DD, 2) financial DD, and 3) property DD. During this process a significant amount of information is reviewed by solicitors and accountants and all relevant issues are then raised to the attention of the prospective buyer. This enables the buyer to be in the best position to negotiate terms with the seller, or if the issues raised are too many or too significant, to change their mind and not proceed with the deal. Our team of corporate lawyers has extensive experience in all aspects of business acquisitions and can provide comprehensive advice and assistance, including guiding clients expertly through the DD process and managing any related negotiations.
For more information get in contact with our corporate team.