| |
Business Law
Over the years Coupe Bradbury have assisted a large number of clients throughout the country relative to the establishment and operation of their businesses.
Our clients include sole traders, partners and limited companies. We can advise on a wide range of commercial matters including:-
 | Business start-up. |
| Company formations and partnerships. |
| Business acquisitions and disposals. |
| Partnership and shareholder disputes. |
| Directors duties and responsibilities. |
| Commercial contracts. |
Regardless of the type of business operated, it is essential that comprehensive, clear documentation is in place setting out the terms upon which the business will be structured. The type of documentation required depends upon the nature of the business and how the business is to be run.
Partnership
Where two or more persons carry on business together with a view to generating profit, they will be considered to be in partnership. This will create a joint and several liability in respect of the firms creditors. This is due to the fact that in the absence of a Partnership Deed, the partnership will be governed by the Partnership Act 1890. It is, however, our opinion that the parties should not rely upon the Partnership Act as in most cases this does not reflect the way in which the partnership operates, nor does it deal with the main concerns of the parties.
A well drafted Partnership Deed is invaluable as evidence of the relationship and its terms. It is also extremely useful as a document to refer to, as it can provide solutions to possible disagreements and help to avoid lengthy and costly disputes. Accordingly we believe that it is essential that any people going into business together should have such a Deed.
Limited companies
The alternative to partnership is the establishment of a Limited Company. This provides the benefit to the businessman of limited liability as well as certain tax advantages. However, it is also important that anybody wishing to set up a Limited Company fully understands how the company must be operated, including the additional formality associated with Limited Companies under the Companies Act 1985.
When operating the business through a Limited Company, the shareholders must appreciate that they do not necessarily have the ability to control the Company. Control of the company can however be regulated by what is known as a Shareholders Agreement. We have considerable experience of drafting appropriate Shareholders Agreements together with the necessary changes to the Articles of Association.
We can also advise our clients concerning their rights, duties and
obligations as Directors of the Company. It is not always appreciated that being a Director can be an onerous responsibility. It is essential that the person concerned fully understands the duties.
Acquisitions and disposals
It is important that clients understand the potential liabilities which can flow from the acquisition or disposal of a business. These include liability for tax and duties to employees, as well as the obvious liability to the seller/purchaser.
We have considerable experience of dealing with these transactions and the preparation of the necessary documentation.
Please contact us if you require a preliminary discussion on any company or commercial matter. We are happy to meet with you on a 'Without Obligation' basis to discuss how Coupe Bradbury can assist you and your business.
|
|
Lytham
The Chapel House
Bath Street
Lytham
Lancashire
FY8 5ES
DX28431 Lytham
Fax 01253 794108
Tel 01253 736670 |
|
Kirkham
48 Poulton Street
Kirkham
Lancashire
PR4 2AH
DX 24852 Kirkham
Fax 01772 685060
Tel 01772 683000 |
|
email
|
|
| |
