Corporate Law: Taking a Pro-Active Approach
It's often said that ‘hindsight is a wonderful thing'. But one of the principles the corporate team at Callaghans strongly believes in is taking a pro-active approach to legal and commercial matters and utilising the benefit of foresight. There are many situations where this pro-active approach is imperative. For example, for business owners considering selling their business in the future, they may be surprised to learn that the preparation process ought to commence two to three years in advance. This advance preparation affords numerous benefits including maximising the business' profit, ensuring taxation matters have been considered so that sale proceeds will be received in the most tax efficient manner and ironing out any problems that may exist that would cause a potential buyer discomfort to ensure the maximum sale price is achieved and limit the scope for erosion of the price following the buyer's due diligence exercise. In the current market seeking correct legal advice in respect of employment law matters, particularly where redundancies are concerned, is of great importance. Employment is an area of law that is constantly evolving. For employers it is essential that the various procedures are followed correctly to avoid severe financial penalties later down the line. For example, if an employer fails to have a grievance and disciplinary procedure in place and they, say, fail to successfully defend an unfair dismissal claim at an Employment Tribunal, the Tribunal may award an uplift of up to 50% for the failure to have a grievance and disciplinary procedure in place. These relatively simple steps that can be easily implemented. At Callaghans, we welcome the opportunity to discuss your business needs and help you take a pro-active approach so you can say "foresight is also a wonderful thing!"
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