Schedule an initial consultation with our experienced business contract lawyers. During this meeting, we will take steps to understand the business and your timeline.
We will then prepare a fixed fee quote and advise you of our recommended strategy for your business purchase.
Step 2 – Negotiating the Business Purchase Agreement
Our experienced M&A lawyers draft, review and negotiate business purchase agreements and share purchase agreements. We will work with you to ensure legal terms are appropriate, including the purchase price, warranties, conditions precedent, indemnities, and guarantees.
Our lawyers ensure that business buyers fully understand the terms of the business purchase contract. This enables buyers to make informed decisions.
Step 3 – Comprehensive Due Diligence
At Prosper Law, we provide our clients with a comprehensive understanding of business acquisition documents and the purchase process. We conduct due diligence and will prepare a due diligence report that sets out our analysis of:
- procurement and sales contracts
- company documents
- employment records
- potential legal issues and outstanding legal claims
- business-critical systems, including technology and software licences
Our due diligence will also:
- verify the banking arrangements of the seller and the value of the business or shares
- review leasing arrangement and draft assignments of lease, as well as conduct title searches
- conduct searches on the personal properties securities register
- verify the ownership of the business or shareholding, as well as the key assets you are purchasing
Step 4 – Fulfilling Pre-Completion Conditions
Our business purchase lawyers will monitor and confirm that pre-completion conditions have been satisfied by the seller. This may involve ensuring the seller has obtained consent from landlords, shareholders, or other relevant parties.
An inventory or stock audit, or a valuation, may also need to be carried out. The type of business being bought determines whether this may be necessary.
Step 5 – Effecting settlement of the business purchase
At settlement, our dedicated team of M&A lawyers will work with the seller’s solicitors to facilitate the smooth transfer of contracts and assets.
We will confirm the settlement statement and confirm payment instructions with the seller’s legal representatives.
Step 6 – Post-completion legal services
Our team of M&A lawyers can provide post-completion legal advice after the settlement of the business purchase.
We will provide legal assistance if the seller has breached the warranties in the share or business purchase contract. Alternatively, a business buyer may wish to recover against any security or retention.