A sale of a business covers transferring the ownership of a business as a going concern, typically by an asset purchase or a share sale, and the accompanying rights and liabilities. A solicitor drafts and negotiates the sale agreement, registers or transfers assets, reviews contracts, and handles warranties, disclosures, and any earn‑outs or non‑compete terms. They coordinate due diligence, liaise with sellers, buyers, lenders, and the company’s advisers, and assist with completion and post‑completion steps such as re‑titling assets and updating registrations.
What a solicitor handles in these matters
The transaction hinges on the chosen structure (asset or share sale), warranties, and indemnities, which create ongoing risk and potential claims. The solicitor structures the deal, negotiates terms, and coordinates with accountants, financiers, and due‑diligence teams to ensure enforceable conditions and timely completion, including dealing with IP, customer and supplier contracts, and employee issues.