From the hire of company cars to the shipping of goods, the term 'bailment' encapsulates one of the most common forms of legal relationship for those operating a business.

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A merger occurs when two companies, which are often about the same size, agree to join together to form a new entity. Mergers are friendly, whereas acquisitions tend to be more hostile and occur when a target company realizes that they have no option but to ensure their survival by being bought by the other company.

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All company directors have one overarching duty which is to promote the success of their business.  This duty on one hand seems a simple notion but, as Mark Glenister a specialist in Commercial Law at JPP Law explains, differences of opinion about how success will be achieved can lead to boardroom disputes and have a detrimental effect on the company's success.

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The opportunity to purchase a competing or complimentary business provides an important route to expansion, but it is important to be clear about what exactly you are acquiring in a business - whether this is via shares or assets.

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