Business and commercial solicitors in Leicester

Business solicitors in Leicester: buying, selling and running a company

Last updated 26 September 2026. General information, not legal advice.

Business and commercial solicitors help companies and their owners with the legal side of starting, running, growing and eventually selling a business. Most of the firms listed here work with owner-managed businesses rather than listed companies.

Buying or selling a business

A sale usually starts with heads of terms setting out the price and main terms. The buyer then carries out due diligence, looking at the company’s contracts, employees, property, accounts and disputes. The sale agreement (a share purchase agreement or an asset purchase agreement) sets out what is being sold, how and when it is paid for, and the warranties and indemnities the seller gives. The seller’s disclosure letter qualifies those warranties. Completion is when contracts are signed and money changes hands.

The parts that matter most to a seller are usually the limits on warranty claims, how any deferred or earn-out payment is protected, and restrictions on what the seller can do afterwards. For a buyer, they are the scope of the warranties and indemnities and what due diligence has turned up.

Running the business

Day to day, business solicitors draft and review commercial contracts and terms and conditions, prepare shareholders’ agreements, advise on directors’ duties and company law, set up share option schemes such as EMI schemes, protect trade marks and other intellectual property, and help with data protection compliance.

Choosing a firm

Ask who will do the work and what size of deal or contract they usually handle. A firm used to very large transactions may be expensive for a small business, and a generalist may not do enough sales to know what is market standard. For transactions, many firms quote a fixed fee with a stated scope and assumptions, so check what’s excluded.

Common questions

When should I get a solicitor involved in selling my business?

Before you sign heads of terms. By then the price, structure and main protections are largely set, so early advice has the most effect.

Do small companies need a shareholders' agreement?

If there is more than one shareholder, usually yes. Articles of association rarely deal with what happens if a shareholder leaves, falls out with the others, dies or wants to sell.

Share sale or asset sale?

In a share sale the buyer takes the company with all its history. In an asset sale it picks the assets and contracts it wants. Tax usually drives the choice, so speak to your accountant as well as your solicitor.

This guide is general information about the law in England and Wales and isn't legal advice on your situation. Solicitor Leicester is a directory, not a law firm.