Discussion on Due Diligence:
When a business is sold the due diligence is very necessary. Some common activities are due to a due diligence checklist during a business for sale transaction. Don’t take every deal like they are the same but every deal is different and few are required to take a longer time for investigation. A more thorough process is needed for a few businesses but few business deals do not require any thorough investigation. During the process of due diligence, it is recommended for everyone to rely on their professionals like lawyers, accountants, and other professional people according to their needs.
Financial Statements: Accountants’ prepared sheets are preferred for this and they recommend seeing the past 3 to 5 years of income statements and balance sheets.
About Employees: From the reviews and feedback it also searched how employees were according to their report and how many complaints they filed against the employer. Labour and employment lawyers who are part of the company will give you the reports about it. And if there is no lawyer then the human resource department will provide you with these reports.
Along with this, it is always recommended to have the information about the employees. If you don’t remember them by their names, then go for a designation to remember them. Go through their hiring agreements and contracts. For this lawyer, it is necessary for you to help you with these.
Asset List: complete list of all assets list is included whenever a business is sold. The list includes the ae of the asset, market value, and serial numbers of that machinery.
Tax Retains and Government Filings: Records of tax return and how good the ex-employer is about this. Almost 3 to 5 years of reports are recommended to see.
There are many more things that should be considered along with the above mentioned is lease equipment list, leased locations, permits, contacts, running contracts with the other companies, future contracts proposals, lawsuits list, who are the top customers, marketing and advertising materials, mode of marketing, etc.
Employment Lawyers in Dubai:
Employment Lawyers in Dubai are those Advocates in Dubai, who are the best Advocates and Legal Consultants in Dubai and UAE for Labour and Employment Law. They help the clients to understand the UAE Labour Law, they help the Clients to file the cases properly. They help the clients to understand about their Labour Rights. They help the Clients to understand about the consequences. Dubai based Labour and Employment Lawyers are considered the best in Town. These Lawyers are in a superb professional shape, where they can represent any kind of complexity and situation.