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Exiting Your Business

You may be selling your business ready for retirement, need support with bankruptcy proceedings or just want to change direction. We provide sound, sensible legal advice that's right for you and your business.

Trading, agreements and systems

Dealing with customers and suppliers

If you're thinking of, or in the process of selling or exiting your business, you'll need to think about the effect this will have on your principal suppliers and customers.

Maintaining relationships with your existing suppliers during any notice period is important to maintain a quality service for your customers.  Most written contracts will specify the period of notice to be given, so you'll need to check that you comply with this before taking any actions.

You'll need to consider a number of factors including:

  • Whether they are holding any stock
  • Whether they using any of your assets
  • Outstanding payments
  • Confidential information

We can advise how to inform suppliers and customers about an exit/terminated agreement and any restrictions on what should be disclosed such as confidentiality or data protection restrictions.

Dismissing sales agents, distributors or resellers

If your sales agent, distributor or reseller has breached the terms of their agreement, or maybe they have failed to fulfil their obligations or made misleading claims about your product or service, you may decide to terminate your agreement. If they have done something to damage your business you might be able to take action against any losses, or terminate the agreement without notice. Your original agreement should have specific terms for such a situation which may include an indemnity or compensation agreement. If a breach of contract has occurred the relationship can be terminated without notice.

We can walk you through any problems you may be having and advise on the best course of action. We can also draft up future agreements to ensure your business is protected from any similar problems.

Maximising the value of your supply contracts

Maximising the most out of your supply chain contracts will ensure your business runs smoothly and profitably. It's all about efficiency; looking at outsourcing functions where necessary, using logistics and distribution to ensure handling costs are minimised, shifting stock to ensure a continuous flow and adding value to the customer.

We can help you draw up supply chain contracts that ensure these processes work as well as they should and protect your businesss when things don't go according to plan.

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