Whether you are a sole proprietor, partnership or your business is a Limited Company there are many aspects of business law that are common to all and which you should take professional advice on. In our experience it is far less expensive to avoid problems than sorting them out when things go wrong and you find that documents do not say what you thought they did. BUYING OR SELLING A BUSINESS Many people, particularly those new to business, do not appreciate what is involved. It is not just a case of agreeing a price and the new owner taking over. How is the price apportioned between the property, the fixtures and fittings and goodwill? The division will have tax implications. Are there employees and if so what are their continuing rights? Who pays for any redundancies? We will advise you on employment matters. What are the VAT implications? What liability will the new owner have for debts of the seller? Are the business premises leasehold then see below? LEASES Landlord and Tenant legislation can be a minefield. If you are a landlord do you want to exclude the tenant�s protection under the legislation? If you are a prospective tenant what are the implications if the landlord wants to do this? Is it clear who is responsible for the repairs? Is there an Energy Performance Certificate (these also now apply to commercial property). Does the lease need to be registered at the Land Registry? Do the premises comply with the legislation on Fire and Asbestos? Don't risk granting or taking a lease without our advice.

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