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Posts Tagged ‘Legal Advice On Selling A Business’

Business Legal Security: 50 Point Check-list

business-legal-advice 

This is a non-exhaustive 50 point checklist designed to help you avoid some very common legal pitfalls and maximise the legal security of your business.

  1. Make sure that legal ownership assets used in the business are actually owned by the business.
  2. Get written copyright assignments from designers, authors, software and web developers and appropriate warranties of originality.
  3. Check the terms and conditions of third party suppliers of services to ensure you legally own any deliverables they create.
  4. Do not rely on a terminable licence for key business assets; take an assignment or a perpetual royalty-free licence.

Legal Advice On Selling A Business

I’ve acted for various clients recently who have sold their businesses and companies, some for many millions of pounds, and I have been astounded by the extremely high levels of risk, often personal risk, that some sellers seem quite content to take on board when they sell.

The terms that some sellers are currently prepared to accept are nothing short of suicidal in some cases.

Some sellers are indeed rushing to sell their businesses like lemmings and are seemingly quite prepared to do so on terms that, quite frankly, verge on the lunatic.