If the company is selling the assets, will the buyer be expecting you personally to guarantee the obligations of the company? Are you ready for the due diligence that the buyer will be about to undertake? Those crucial contracts that add value to your business, do they contain ‘change of control’ clauses in the event that the shareholders sell the shares in the company or do they prohibit assignment in the event that the assets of the company are sold? This is just a small list of the things to consider when selling your business, make sure you are on top of the issues!
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Selling your business is one of the biggest decisions a business person can make. Handing over “your baby” is always going to involve mixed emotions and a lot of considerations – not least the kind of buyer you want to take over the business. An option we have seen some clients explore is selling to a private equity investor as opposed to a more “traditional” sale.
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In an era where technology is reshaping industries, businesses are finding themselves at the crossroads of innovation and responsibility. As a forward-thinking law firm, we understand the transformative power of Generative Artificial Intelligence (A.I.) and how this can be integrated into a business and its current practices. We are also aware of the potential grey areas and pitfalls working with A.I. may have, and why it there may be a critical need for businesses to implement comprehensive A.I. policies.
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Business owners and employees alike should be prepared for what to expect when expecting in the workplace as redundancy and maternity laws are changing.
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