Buying and Selling a Business
If you’re thinking about buying or selling a business, or planning to outsource work, it’s essential to understand how this impacts your employees.
How can we help you?
When you buy or sell a business, your employees have specific protections, such as around job dismissal, changes to their job terms, and the right to be consulted before their job is transferred to another company. Navigating these employment law areas can be complex, but it's a crucial part of buying or selling a business and we can help to ensure you have everything covered. Whether your business is local or international, we're here to help.
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- Jolyon Berry
- Head of Employment
Employee Transfers
As you embark on buying or selling a business, you’re entering a realm that requires careful attention to employment aspects. It’s crucial that you negotiate guarantees and share information about the employees who will be moving with the business. This is a two-way street: you and the other party need to exchange vital details, and eventually, the employees themselves need to be informed about their transfer.
If these processes are not handled with care, the consequences can be significant for both parties, whether you’re buying or selling. Mistakes or missing information can result in penalties and leave you vulnerable to claims from employees for unfair dismissal or lack of communication. The dilemma here is that for business reasons, deals like these are usually kept confidential for as long as possible.
But don’t be intimidated. Our Employment Law team specialises in navigating the complex waters of employee transfers during business transactions. Working closely with our colleagues in our commercial property and corporate and commercial teams, we’re here to provide you with advice that not only makes legal sense but also aligns with your business objectives. And we promise to keep it simple and straightforward because we understand how important clarity is in these situations.
Our Employment Law Fees
Before we start working with you, we will provide a quote. The quote will be based on your circumstances and will reflect the complexity of the work to be undertaken.
Contact our Solicitors in Colchester or Clacton
We’re here to help. Get in touch or contact one of our offices: