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Setting up a business

Advice for setting up a business

It is worth considering whether you should form a company or a limited liability partnership.

If you are working with others, it is wise to consider entering into a shareholders’ agreement or partnership agreement.

Such an agreement can be used to regulate decision making within the business, how profits will be shared, and to set out what will happen if one party decides to withdraw from the business and sell their interest. This can help avoid disputes (and related costs) in future.

You should also consider the legal relationship with your customers and the need for terms of business.

Are your customers private individuals (consumers) or other businesses? Consumers have enhanced legal rights and you must be careful to avoid unfair contract terms, otherwise they might not be enforceable.

For more information on developing or selling an existing business, click here

If you require advice or assistance on any of the above please get in touch. 

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