Whether you are buying or selling a business there is always a lot to consider and having the correct formal agreement in place is essential.
You will need to consider and decide upon a number of issues especially if you are either buying or selling shares in the business.
Does the business have an existing Shareholder Agreement?
Will you as the seller be expected to make certain guarantees?
As a purchaser do you want guarantees from the seller?
What undertakings do you want to impose on the seller?
What undertakings are you prepared to make to the buyer?
How do you value the company?
Who is responsible for existing and future liabilities?
The above are just a few of the complicated matters that will need to form part of your sale or purchase agreement and it is essential that the resulting document is drafted by a legal professional who can ensure that you get the best result for you with certainty and clarity.