Initial considerations

The decision to sell your business will ultimately be driven by commercial factors.

You may, for example, be looking for an investor to help move the business forward or you might be seeking an exit altogether.

Whatever the rationale for the sale, there are a number of points you will need to consider:

  • how to value your business
    (and how to agree this with the buyer)
  • how to structure the deal
    i.e. whether you sell the shares in your company or just the business assets
  • how to take the deal to market and identify a buyer

We appreciate you will require input from your financial and tax advisers on these preliminary questions but, in our experience, it is just as important to engage with your legal team at the same time. Only if we understand the commercial deal and economic drivers can we be sure that they will be properly reflected in the transaction documents.


Capturing the commercial terms upfront in a ‘Heads of Agreement’ can be a useful way of avoiding road-blocks later on in the transaction – and should streamline the negotiation of the legal documents, saving you time and money.