We act for business owners who are looking to sell all or part of their business by way of asset sale.
Although the buyer will normally prepare the draft asset purchase agreement, as a seller you will be expected to respond to various due diligence enquiries and to give warranties in the asset purchase agreement based on the buyer’s findings.
How can we help?
We can help you sell your business in this way by assisting in responding to enquiries made by the buyer and negotiating the terms of the asset purchase agreement.
This will ensure that you only give warranties that you are comfortable with and that your liability for any claims brought by the buyer is limited. We will also ensure that the exact terms you have agreed are reflected in the agreement itself.
As the business is being transferred you will need to consult with your employees; we can help with your TUPE obligations.
If the assets are being sold by a limited company, once you are ready to complete the sale we will also help with the relevant board minutes and documents required to give effect to the transfer.