law


Buying or selling a business: Key early agreements to consider The decision to develop and expand your business by buying a


new business (or selling yours) is always a serious prospect and one which you cannot afford to take lightly, writes Victoria Lloyd- White of Colemans Solicitors LLP


Say you’ve decided to buy or sell the assets of a business. Before you proceed, it’s crucial you consult an experienced lawyer to advise and guide you through the process. Your lawyer will ensure each stage is handled properly so your position is always protected.


Of vital importance are the documents required. Here are some key agreements you can expect to see:


A confidentiality agreement or non- disclosure agreement (NDA). For a seller, signing this agreement can help safeguard disclosed confidential information. You can ensure the information disclosed remains confidential, is only used for specific purposes and clarifies what, when, how and to whom information can be disclosed. It would be unfortunate if before you sign a purchase agreement,


your staff, suppliers or customers hear about the deal from someone else. You could end up inadvertently losing key staff, market share or suffer a drop in your business’ value.


An exclusivity agreement or lock-out agreement. For a buyer, it’s important to prevent the seller from negotiating with other parties for a period long enough for you to try and complete the transaction. That way, you can avoid spending a substantial amount of time, money and effort negotiating with the seller only to be ‘gazumped’ if and when a ‘better’ offer comes along. The seller shouldn’t be allowed to use your proposal to test the market.


Now, you have both reached an agreement in principle on the main terms. Before you get involved with the time


Blandy & Blandy advises on the sale of Science Media Partners


Blandy & Blandy LLP’s corporate team has advised Science Media Partners, an international events and publishing company based in Reading on its acquisition by global events company Terrapinn, based in London


Partner and team head David Few advised on the deal, supported by solicitor Stuart Rose.


SMP’s shareholders Mark and Andrea Lockie described the team as “brilliant to work with” and said: “We feel like we have been in a safe


pair of hands, and we have been impressed with Blandy & Blandy.”


Following the acquisition, Mark Lockie, founder and managing director of SMP, will continue to lead the SMP business.


Blandy & Blandy celebrates landmark


Blandy & Blandy LLP celebrates its 285th anniversary in 2018, making it one of the region’s oldest firms and among the 25 oldest law firms in the UK.


Today Blandy & Blandy has two offices in Reading and offices in Henley-on-Thames and London. The firm continues to grow, having recently welcomed several new faces to its team which is now home to 110 staff, approximately half of whom are lawyers.


Chairman Brenda Long commented: “Reading and Henley continue to be exciting and thriving towns to be a part of and with the advent of Crossrail and ongoing town-centre developments, they look set to continue to grow. There is still a real air of


positivity in the region in light of Brexit, among businesses and in relation to both the commercial and residential property markets. We will be toasting our 285th anniversary, and the firm’s history and longevity, at our annual summer garden party and Christmas drinks, but our focus remains on a bright and exciting future.”


THE BUSINESS MAGAZINE – MARCH/APRIL 2018 businessmag.co.uk 77 Planning Law Seminar


Touching on areas including the ‘Broken housing market’, over 120 guests registered to attend Blandy & Blandy LLP’s annual planning law seminar on February 1


The firm welcomed guest speaker Ian Tant, president elect of the Royal Town Planning Institute (RTPI) and former senior partner at Barton Willmore, alongside its own speakers Karen Jones, Simon Dimmick and Victoria Charlesson.


Blandy & Blandy is ranked among the UK’s top planning law firms by Planning magazine and the firm is highly ranked for planning, environmental and property law in both Chambers UK guide and The Legal 500.


consuming and expensive due diligence exercise, you ought to capture these terms in writing. Principal terms are typically called Heads of Terms (HoT) or Headings of Agreement and should cover important transaction points. You can include important arrangements about who pays the professional costs, particularly if the matter proves abortive. While HoT are not meant to bind the parties legally in all regards, they can still contain binding terms about legal and accountancy costs. They are however usually considered ethically binding and can help prevent further negotiation down the line. It’s therefore important that you approach this stage of the process carefully and involve your lawyer too.


Get your deal off to the right start by contacting Victoria Lloyd-White.


victoria.lloyd-white@colemans.co.uk


01628 631051 colemans.co.uk


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88