The Contract Lawyer

19/02/2024

Thinking of selling your business?

Maybe you're thinking of selling right now, or you may have a future exit in mind.

There are many reasons why people want to sell their business, including:

✔ Retirement
✔ Wanting to pursue other opportunities
✔ Wanting to receive a lump sum of cash through a liquidity event
✔ No longer enjoying what you're doing

One of the first things a prospective seller needs to establish is what potential value they could look to achieve from a sale.

Back in Autumn, we ran a very small campaign in my networking circle, offering our business market valuation free of charge for 1 week. This resulted in 2 businesses being sold, and another dozen business owners gearing up for sale.

We are now offering our free market valuation service for *free* for 1 month to any business owner who wants to know what their business is worth.

We are also working with a handful of business buyers and investors who are actively seeking businesses to purchase, so if a sale within the valuation is something you are interested in, we can support you in matching the right buyer.

If interested please drop us an email - [email protected]

20/12/2021

It was great to host the Mayor of Bolton, Cllr Linda Thomas at the opening of our Bolton office this month.

We're doing free legal advice sessions for local business owners in the new year as a continuation of our initiative to support North-West entrepreneurs in achieving success during the pandemic.

Cllr Linda Thomas, the Mayor of Bolton, said “It was fantastic to open the office of The Contract Lawyer today and to hear about the brilliant work they have been doing throughout the pandemic to assist local businesses.

Small and medium businesses in particular employ about 3 in every 5 people in the UK and the vast majority of people that live in Bolton are reliant on local businesses for their livelihoods.

It is therefore important for more than just the business itself that they are able to survive and thrive. This is a great initiative that The Contract Lawyer is providing and I’m sure that the access to free legal advice will prove helpful to businesses across the town".

Everybody loves a gift at Christmas time and Bolton Businesses will be pleased to learn of one free gift that is being provided to them this year. The Contract Lawyer is offering free legal advice appointments to Bolton Businesses for the rest of 2021 and into 2022.

17/12/2021

https://www.linkedin.com/pulse/contract-lawyer-completes-sale-hosting-heroes-/?trackingId=1Ie0VLycQOeVN06jlE5tAg%3D%3D

Synextra Ltd has announced its acquisition of The Hosting Heroes, a UK based web hosting and cloud provider. The business will join the group and form a division that caters for web hosting, domains, and VPS requirements.

25/09/2020

DO YOU SELL PRODUCTS ONLINE?

If so, do you use a sales contract to govern the transaction? How effective is it? Who wrote it? Was it copied from a competitor's website?

Delivery terms, refund terms, liability for loss and damage are all essential terms of a sale of goods contract, but it is surprising how many e-commerce businesses neglect even the basics.

What about who you sell to? Do you sell to businesses or to consumers? Depending on the answer, the law implies certain terms into the contract. Do you know what these are?

If you sell goods online and need a sales contract, or aren’t sure whether your terms are up to scratch, The Contract Lawyer would be happy to help. You can contact us for a free consultation by writing to us at: [email protected].

21/08/2020

More than 85,000 online businesses were launched in the UK during coronavirus lockdown.

How many of those businesses do not comply with their obligations under GDPR?

It's understandable. When you first start a business project (especially on a low budget) your main concerns are getting customers and making money. There is nothing more important, it's true.

However, data privacy laws have never been more stringent and the penalties for non-compliance can be enough to cripple your business.

If you collect personal data through your website, as a bare minimum you should have a GDPR privacy policy in place!

It is likely you will have to register with the ICO.

If you transfer personal data outside of the EEC then you will have further obligations depending on what you do with the data.

If you aren't sure where to start with data compliance then we would be more than happy to have a free (no-obligation) consultation with you, just drop me a line.

10/08/2020

DO YOUR WEBSITE TERMS FULLY PROTECT YOU?

If you run a company there are certain things that the law requires you to have on your website.

Most of this is straight-forward company information (company name and registered address for example)

BUT WHAT ABOUT THE NON-MANDATORY STUFF?

Protecting your intellectual property?

Limiting your liability for the actions of other users?

Preventing unacceptable behaviour like hacking or uploading viruses?

Outlining acceptable use of your website and content?

Having the ability to terminate user accounts at your discretion?

Terms and conditions pages are undeniably boring. The fact they are not a legal requirement (unlike privacy policies if you collect personal data) means that this document is often overlooked.

At The Contract Lawyer, we believe protecting your website from inappropriate use is essential. Taking preventative steps now reduces your risk of liability and goes a long way in protecting your intellectual property.