Law for Small Business For Dummies - UK, UK Edition
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When you're exiting (that is, selling) your small business, you need to know what's required legally. At last — the finishing line is in sight. Like an over-heated decathlete you can't stop extra disciplines being added to your list of events, including:
  • Raising lots more money for significant growth.

  • Creating exponential growth through partnerships and joint ventures.

  • Buying or merging with other firms.

  • Repeating previous stages of the business with other products (diversifying).

  • Preparing the business for expansion or sale.

  • Selling shares or assets.

  • Exiting the business.

When plotting your path to blazing success, take note of this checklist of legal issues to consider:
  • Implementing significant "A" or "B" funding rounds.

  • Entering joint venture agreements with other partners.

  • Constructing acquisition or merger agreements with target companies.

  • Implementing legal steps from previous stages of your business's growth for new diversified products.

  • Dealing with terms sheets and any buyer's due diligence.

  • Contracting to sell all or part of the business as shares or assets.

About This Article

This article is from the book:

About the book author:

Clive Rich is a lawyer, mediator, arbitrator and negotiator. He is Chairman of LawBite, an online legal service providing 'Simple Law for Small Companies' (www.lawbite.co.uk).

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