Business & Commerce

Building a secure future for business advice in a changing world.

In business, as in life, you have two choices: you can get it right before you do it or try to put it right afterwards. Getting it right (not putting it right) is much cheaper and much more successful. At Stephens & Son LLP we have the expertise to help your business succeed.

Forming a company

If you are setting out in business we can help you with forming your company, drafting the company’s memorandum and articles and issuing and allotting shares and appointing directors.

Shareholder agreements

Unless you have all the shares there is the possibility for eventual disagreement between you and the other shareholders and your co-directors. A Shareholder Agreement is a 'Pre-nuptial' agreement for companies. It protects Shareholders’ rights relating to the ownership and management of the company and provides methods for resolving disputes.

Partnership/LLP Agreements

When two or more people go into business together with a view to making a profit they have created a partnership - and their business relationship is regulated by an Act of Parliament dating back to 1890. If you know what the Act says and you are content with its provisions then fine - otherwise you need a modern written Partnership Agreement setting out the partners’ rights and responsibilities. This should provide for retirement or expulsion of partners, the sale of partners’ interests and include methods for settling disputes.

Buying or selling business assets or company shares

If you choose to buy an existing company or business; you should seek professional assistance to undertake ‘due diligence’- making sure you know exactly what you are getting for your money.

We will negotiate, draft and approve all the contract documentation and complete the sale or purchase.

Terms & conditions of trading

Without properly drafted Terms & Conditions of trading you are unlikely to protect your rights, limit potential liabilities and retain the ownership of the goods you supply until the price has been paid.

Bank guarantees and loan documentation

As soon as your company wants to borrow money from the bank you are likely to be asked to guarantee repayment of the debt, and possibly mortgage your house to the bank. We can advise you on the terms of the loan or guarantee documentation – but we may not be able to advise both you and your spouse because of possible contrary interests.

The Business and Commerce Department is committed to providing straightforward solutions and strategies to help our clients’ businesses succeed.

Please contact Head of Department and Consultant John Holder.

jkh@stephens-son.co.uk