Business Sellers and Due Diligence

As a solicitor who specialise in sales of businesses, I aim to guide sellers through the sale process.

Sellers may receive a comprehensive legal due diligence questionnaire asking detailed and specific questions about areas of the business. These questions can be complicated for someone going through the process for the first time. However, legal due diligence does not need to be overwhelming.

I will explain what the questions mean, let you know what information the buyer is seeking and work with you to complete the replies to the questionnaire. If there are any issues in relation to the business then we can discuss the approach and how to proceed.

An effective legal due diligence process on the seller’s part will form the basis of the seller’s disclosures against the warranties. Disclosure is the seller’s opportunity to ensure that they don’t face a claim for breach of a warranty because they have provided sufficient information about an issue to allow the buyer to identify why the warranty is incorrect.

It can be frustrating for a buyer’s solicitor to receive incomplete or conflicting replies or documents not clearly ordered or labelled. I aim for any replies to due diligence to be clear and structured logically; allowing the buyer to assess information quickly. This should hopefully avoid follow up requests from the buyer’s solicitor and possible delays in preparation of the purchase agreement.

I regularly advise sellers and buyers of businesses across a wide range of industries and sectors. I’m committed to getting transactions over the line quickly with sensible and fair sale agreements. I’m always happy to see how I might be able to help on 07359 989311 or at Robert.Flannagan@acuitylaw.com.