Selling a business involves transferring ownership, typically by share sale or asset sale, with due diligence, warranties, and a staged completion. A solicitor drafts and negotiates the sale agreement, coordinates due diligence questionnaires, reviews disclosure, negotiates warranties and indemnities, and liaises with the buyer, accountants, and tax advisers. They prepare or review the heads of terms, assist with regulatory requirements, and ensure completion formalities are followed, protecting the seller’s position and handling post-completion adjustments and notices.
What a solicitor handles in these matters
The solicitor handles the structure of the deal (share vs asset sale), drafts and negotiates the contract, negotiates warranties and indemnities, coordinates disclosure, and manages the transfer of shares or assets, together with any post-completion adjustments, tax clearances, and registrations. They navigate due diligence responses, disclosure regimes, and regulatory requirements, ensuring that the legal risk is understood and mitigated and that completion occurs in accordance with the agreement.