Buying a business is one of the most significant commercial decisions you will make. Getting the legal side right protects your investment, reduces your risk, and gives you a clean start. Our business purchase solicitors work with buyers at every stage of the process, from initial due diligence through to completion.
Whether you are acquiring a competitor, buying a supplier, or making your first strategic acquisition, JPP Law gives you senior legal expertise without the fees of a traditional City firm.
What a Business Purchase Solicitor Does
A business purchase solicitor advises you on the legal structure and documentation of your acquisition. In practice, that means quite a lot.
First, there is the question of structure. Most acquisitions take one of two forms: a share purchase or an asset purchase. In a share purchase, you buy the company itself, taking on its history, contracts, and liabilities. In an asset purchase, you buy specific things the business owns, such as its customer contracts, intellectual property, or equipment, leaving liabilities behind. The right structure depends on your circumstances, and we advise you on the difference before you commit.
Due Diligence
Due diligence is the process of investigating a business before you buy it. It is your opportunity to verify what the seller is telling you and to uncover anything that might affect the price or the terms. We carry out legal due diligence covering contracts, employment, property, intellectual property, and regulatory matters.
If the due diligence reveals a problem, we help you decide what to do about it. That might mean renegotiating the price, asking for an indemnity (a contractual promise by the seller to cover a specific financial risk), or in some cases, walking away.
Drafting and Negotiating the Purchase Agreement
The share purchase agreement or asset purchase agreement is the central legal document in any acquisition. It records the price, the conditions, the warranties (legally binding statements the seller makes about the business), and the remedies available to you if those warranties turn out to be wrong.
Drafting and negotiating this document requires precision. We make sure the terms reflect what you actually agreed, that the warranties are robust, and that you have appropriate protections if something unexpected comes to light after completion.
Disclosure and Completion
Before completion, the seller will produce a disclosure letter, setting out qualifications to the warranties they have given. We review this carefully on your behalf. A well-managed disclosure process protects you; a poorly managed one can leave you with no recourse if problems emerge later.
We handle all completion formalities, including the transfer of shares or assets, board resolutions, and any regulatory filings required.
Additional Services for Business Buyers
Depending on the deal, you may also need advice on:
- Employment law, particularly where staff will transfer to you under TUPE (the Transfer of Undertakings (Protection of Employment) Regulations, which protect employees when a business or part of it changes hands)
- Financing documents including seller finance agreements, if you are borrowing to fund the acquisition.
- Shareholder or partnership agreements for the business going forward
- Regulatory approvals or competition law clearance in relevant sectors
Our solicitors are experienced in all of these areas, so you get joined-up advice rather than a patchwork of different advisers.
Why Choose JPP Law for Your Business Acquisition
JPP Law is a virtual commercial law firm. We work remotely, which means lower overheads and, as a result, lower fees than most traditional practices. Most of our solicitors trained and practised at City firms, so the quality of advice is exactly what you would expect from a London firm, at a fee level that makes sense for growing businesses. A small business purchase may even qualify for our small business purchase service.
We advise founders, owner-managed businesses, and larger companies. We are used to working at pace when a deal demands it, and we give you direct access to senior solicitors throughout.
As we work virtually, we are easy to reach. You are not limited by geography or office hours – we have been known to work all hours to get the deal done. For business buyers managing a transaction alongside running their own business, that accessibility matters.
What to Expect When You Work With Us
We start with an introductory call to understand your proposed acquisition and what you need. From there, we provide a clear scope of work and a fee estimate before we begin. You will always know what you are getting and what it will cost.
Throughout the transaction, we keep you informed without burying you in legal correspondence. We explain the issues that matter, give you our view, and help you make good decisions.
Get In Touch
Use our online booking system to arrange a complimentary call to discuss your business purchase.
Frequently Asked Questions
What does a business purchase solicitor charge?
Fees vary depending on the size and complexity of the transaction. We provide a clear fee estimate after an introductory call which can be booked online, once we understand the scope of the work. As a virtual firm, our costs are typically lower than those of a traditional City or regional firm of equivalent quality.
How long does it take to complete a business acquisition?
Most acquisitions take between four and twelve weeks from instruction to completion, depending on the complexity of the deal, the pace of due diligence, and how quickly the parties agree on terms. We work efficiently and do not create unnecessary delay on our side.
Do I need a solicitor to buy a business?
You are not legally required to use a solicitor, but the risks of proceeding without legal advice are significant. The purchase agreement, warranties, and indemnities in a business acquisition carry real financial consequences. A business purchase solicitor protects your position and gives you recourse if things go wrong after completion.
If you are considering acquiring a business, speak to one of our commercial solicitors. Book an introductory call and we will help you move forward with confidence.
