Should I appoint a Solicitor to buy or sell a business?

Do I Need a Solicitor to Buy or Sell a Business?

Buying or selling a business is a significant step—one that involves both financial and legal complexity. Whether you're a first-time buyer or an experienced business owner, having a solicitor on your side is essential to protect your interests and ensure the transaction runs smoothly.

In this post, we’ll explain why legal guidance is crucial, what role a solicitor plays in the process, and how to find the right professional to support you.

Why a Solicitor Is Essential in Business Sales and Purchases

Business transactions often involve complex contracts, regulatory requirements, and negotiations that can carry long-term consequences if not handled properly.

A solicitor provides the legal expertise needed to:

• Ensure the deal is compliant with all applicable laws

• Protect your interests through well-drafted agreements

• Identify and manage legal risks during due diligence

  
  

Beyond legal advisors, you'll also likely need support from accountants (who prepare vital financial documents) and business transfer agents (who help manage the transaction process and keep it on track).

What Does a Solicitor Do During a Business Sale or Purchase?

Let’s break down the key responsibilities of a solicitor during the sale or purchase of a business:

1. Providing Legal Advice

Your solicitor will guide you through legal matters such as contract negotiations, business structure, and regulatory compliance. If employees are involved, they'll ensure proper handling of their contracts in line with employment law.

2. Supporting Due Diligence

Due diligence is a critical stage for buyers. A solicitor will review the target business’s legal history, flag potential liabilities, and confirm ownership of key assets such as intellectual property, leases, and contracts.

3. Drafting and Reviewing Contracts

Ensuring your contracts are watertight is one of the solicitor’s most important roles. They'll draft or review the sale and purchase agreement, negotiate warranties and indemnities, and work to minimise your exposure to future claims.

How to Find the Right Solicitor for Your Business Transaction

Choosing a solicitor with relevant experience can make all the difference. When evaluating potential legal advisors, consider:

• Experience – Do they specialise in business sales and acquisitions?

• Reputation – Are there positive reviews or client references?

• Transparency – Do they offer clear information on fees and timelines?

If you're unsure where to begin your search, our team at CBS Business Sales can connect you with solicitors we’ve worked with and trust, based on long-standing industry relationships.

A solicitor isn’t just a legal box to tick

A solicitor isn’t just a legal box to tick—they’re a vital part of any successful business sale or purchase. From protecting your interests to guiding you through complex processes, their expertise ensures that your transaction is legally sound and future-proof.

Thinking of buying or selling a business? Get in touch with CBS Business Sales today for expert advice and solicitor recommendations tailored to your needs.