Services for Business FAQs
1. Do I need a solicitor to buy or sell a business?
We would always advise that you seek independent legal advice for business sales and purchases, as they can be complex transactions. It is imperative that your solicitor carries out the correct due diligence and follows the correct procedures to ensure a smooth transaction. Failure to do so could lead to costly (both financially and timely) repercussions.
2. Can a solicitor act for both the buyer and the seller in one transaction?
The short answer is no. This is due to a conflict of interest; risks are associated with acting for both parties for any legal transaction, including buying and selling businesses.
The commercial team at Larcomes has experience in acting for both buyers and sellers; however, we will never undertake instruction from both parties on the same transaction.