What business solicitors do
- Choosing a structure: sole trader, partnership, LLP or limited company.
- Shareholders' agreements, partnership agreements and articles of association.
- Commercial contracts, terms and conditions, and supply and distribution agreements.
- Buying and selling businesses and shares, and investment rounds.
- Shareholder and partnership disputes.
Getting value from a business solicitor
Ask for a fixed fee or a capped estimate for defined pieces of work. Sharing your commercial goals at the start helps the solicitor focus on the risks that actually matter to your business. Many firms also offer retainer packages for regular advice.
Questions to ask a business & corporate solicitor
- Have you worked with businesses of my size and in my sector?
- Can you give me a fixed fee for this piece of work?
- Who else in the firm handles tax, employment or property if I need them?
- Do you offer a monthly retainer for ongoing questions?
Frequently asked questions
Do I need a solicitor to set up a limited company?
No. You can register a company with Companies House yourself, but a solicitor can tailor the articles of association and prepare a shareholders' agreement to prevent disputes later.
What is a shareholders' agreement?
It is a private contract between the shareholders covering how the company is run, how decisions are made and what happens if someone wants to leave.
How much does it cost to buy a business?
Legal fees depend on the size and complexity of the deal and how much due diligence is needed. Ask firms for a fixed fee or a written estimate.