Apr 29, 2019 | EMILY BAKER-GAUNT
We spoke to the managing partner of Cook Corporate Solicitors, Charles Cook to find out what you should be looking out for when hiring a Solicitor for your business sale.
Charles is well place to guide us through the do’s and don’ts. You don’t get a reputation as one to the leading ‘deal makers’ in the South West for nothing!
As well as founding and being Head of Corporate and Commercial for Cook Corporate Solicitors, Charles is a founding member of the Bristol Private Equity Club, helping to support businesses with both investment and advice in a Dragon’s Den style.
Charles, if we’re looking to appoint a Solicitor to sell our business what should we look out for in the first instance?
You should look for a Solicitor who is SRA Registered, has the relevant M&A experience and the capability to handle the job.
Once we’ve appointed a Solicitor, what are your top tips for having a good experience?
Try to agree a fixed fee for the transaction so you know what you’re paying. You should meet regularly with your Legal team to ensure everyone is on the same page.
Always make sure that you understand all of the documents you are signing and don’t sign unless you are 100% happy.
Lastly, what should we expect from a great Solicitor during the process?
You should be getting regular updates. They should always available to speak to on the phone or be able to call or email you back on the same day.
A good Solicitor should be able to speak to you in non-Legal language to make sure that you understand what is being agreed.
Ultimately, they should help to negotiate with the other side to get the best possible result for you.
If you’re considering selling your business get in touch with Andy Parker, Head of Corporate Finance at Cooper Parry.
This communication is for general information only and is not intended to be individual advice. It represents our understanding of law and HM Revenue & Customs practice as at 14 August 19. You are recommended to seek competent professional advice before taking any action. The value of investments and the income from them can go down as well as up, and you may get back less than you originally invested. Past performance is not a guide to the future. The investments described are not suitable for everyone. This content is not personalised investment advice, and Cooper Parry Wealth can take no responsibility for investment decisions you may make as a result of this information. Tax and estate planning advice are not regulated by the FCA.
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