{"id":180263,"date":"2023-04-04T06:06:44","date_gmt":"2023-04-04T05:06:44","guid":{"rendered":"https:\/\/legalvision.co.uk\/?p=180263"},"modified":"2023-04-06T00:19:41","modified_gmt":"2023-04-05T23:19:41","slug":"train-new-owners","status":"publish","type":"post","link":"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/","title":{"rendered":"Do I Need to Train the New Owners After Selling My UK Business?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">For many business owners, the main aim of any company sale is to find a suitable buyer and obtain a reasonable sale price. Among other terms in your business sale agreement, there might be a clause requiring you to train the new owners of your business. This article will consider your post-sale obligations and whether you should agree to train new owners upon the sale of your UK company.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400\">How Does Conducting Training Benefit You?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">It is not a legal requirement or industry standard for sellers to train the oncoming owner of their business. However, in negotiation with the potential new owner, you might agree that doing so benefits both parties.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">As the existing owner of the company, you have specific knowledge of how the business works, as well as a relationship with staff members and business contacts. In this way, you can provide any new owner with vital information on how the business operates and makes a profit.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Likewise, in agreeing to train the new owners, you might be able to negotiate a higher sale price or other conditions within the <\/span><a href=\"https:\/\/legalvision.co.uk\/business-sale-purchase\/legal-considerations-before-selling\/\"><span style=\"font-weight: 400\">sale agreement<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n    <div class=\"my-7 lg:my-10 border-y-2 border-gray-100 py-7 lg:py-10 flex flex-col sm:flex-row items-start gap-10\">\n                    <img decoding=\"async\" class=\"w-52 mx-auto my-0! rounded\" src=\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2023\/01\/13013547\/buying-a-business-560x792-1.jpg\" alt=\"Front page of publication\"\n                 loading=\"lazy\" width=\"208\" height=\"298\">\n                <section>\n            <div class=\"text-2xl font-bold\">Buying a Business: Guide to Negotiating Terms<\/div>\n            <div class=\"body-text\">\n                <p>Buying a business? Download this free guide to help you negotiate key terms like price, stock, and employee entitlements.<\/p>\n            <\/div>\n            \n\n<a href=\"https:\/\/go.legalvision.co.uk\/buying-business-guide.html\" class=\" block px-5 py-3.5 max-w-fit bg-orange button__hover transition rounded text-white font-bold text-lg no-underline uppercase leading-tight text-center\" target=\"\" rel=\"\">Download Now<\/a>        <\/section>\n    <\/div>\n\n<h2><span style=\"font-weight: 400\">What Does Training a New Owner Involve?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Whilst much will depend on the nature of the company, most training sessions will explore the following:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">how the business operates from day to day;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">the names and roles of essential staff members;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">the identities of crucial suppliers, contractors and clients; and<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">any methods by which the company achieves profit or enhances staff productivity.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Some business sale agreements will include a clause requiring the outgoing owner to spend at least a certain amount of hours training the incoming owners. For example, the agreement may dictate that the outgoing owner:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">provides no less than 10 hours of training regarding the general operation of the business; and<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">provides at least 4 hours of training regarding relevant business accounts (including a spreadsheet of accounts, usernames and passwords).<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Naturally, small businesses may require a shorter training programme than larger organisations.<\/span><\/p>\n\n<a href=\"#content-next\"\n   class=\"block p-4 mt-10 text-xl font-bold text-center text-white no-underline bg-gray-800 rounded-t-xl\">\n    Continue reading this article below the form\n    <i class=\"text-xl fa-regular fa-arrow-down\"><\/i>\n<\/a>\n<div class=\"px-6 pt-10 pb-12 mb-10 text-center bg-gray-100 rounded-b-xl sm:px-12 test\">\n    <div class=\"mb-8 text-2xl font-bold text-orange\">\n        Need legal advice?\n        <br>\n        <span class=\"text-lg not-prose\">\n                            Call <a href=\"tel:+448081968584\" class=\"not-prose\">0808 196 8584<\/a> for urgent assistance.\n                <br>\n                Otherwise, complete this form, and we will contact you within one business day.\n                    <\/span>\n    <\/div>\n\n    \n\n<div class=\"not-prose flex justify-center text-left gform_input_bg_white    \">\n    <script>\nvar gform;gform||(document.addEventListener(\"gform_main_scripts_loaded\",function(){gform.scriptsLoaded=!0}),document.addEventListener(\"gform\/theme\/scripts_loaded\",function(){gform.themeScriptsLoaded=!0}),window.addEventListener(\"DOMContentLoaded\",function(){gform.domLoaded=!0}),gform={domLoaded:!1,scriptsLoaded:!1,themeScriptsLoaded:!1,isFormEditor:()=>\"function\"==typeof InitializeEditor,callIfLoaded:function(o){return!(!gform.domLoaded||!gform.scriptsLoaded||!gform.themeScriptsLoaded&&!gform.isFormEditor()||(gform.isFormEditor()&&console.warn(\"The use of gform.initializeOnLoaded() is deprecated in the form editor context and will be removed in Gravity Forms 3.1.\"),o(),0))},initializeOnLoaded:function(o){gform.callIfLoaded(o)||(document.addEventListener(\"gform_main_scripts_loaded\",()=>{gform.scriptsLoaded=!0,gform.callIfLoaded(o)}),document.addEventListener(\"gform\/theme\/scripts_loaded\",()=>{gform.themeScriptsLoaded=!0,gform.callIfLoaded(o)}),window.addEventListener(\"DOMContentLoaded\",()=>{gform.domLoaded=!0,gform.callIfLoaded(o)}))},hooks:{action:{},filter:{}},addAction:function(o,r,e,t){gform.addHook(\"action\",o,r,e,t)},addFilter:function(o,r,e,t){gform.addHook(\"filter\",o,r,e,t)},doAction:function(o){gform.doHook(\"action\",o,arguments)},applyFilters:function(o){return gform.doHook(\"filter\",o,arguments)},removeAction:function(o,r){gform.removeHook(\"action\",o,r)},removeFilter:function(o,r,e){gform.removeHook(\"filter\",o,r,e)},addHook:function(o,r,e,t,n){null==gform.hooks[o][r]&&(gform.hooks[o][r]=[]);var d=gform.hooks[o][r];null==n&&(n=r+\"_\"+d.length),gform.hooks[o][r].push({tag:n,callable:e,priority:t=null==t?10:t})},doHook:function(r,o,e){var t;if(e=Array.prototype.slice.call(e,1),null!=gform.hooks[r][o]&&((o=gform.hooks[r][o]).sort(function(o,r){return o.priority-r.priority}),o.forEach(function(o){\"function\"!=typeof(t=o.callable)&&(t=window[t]),\"action\"==r?t.apply(null,e):e[0]=t.apply(null,e)})),\"filter\"==r)return e[0]},removeHook:function(o,r,t,n){var e;null!=gform.hooks[o][r]&&(e=(e=gform.hooks[o][r]).filter(function(o,r,e){return!!(null!=n&&n!=o.tag||null!=t&&t!=o.priority)}),gform.hooks[o][r]=e)}});\n<\/script>\n\n                <div class='gf_browser_gecko gform_wrapper gravity-theme gform-theme--no-framework lawyer-form_wrapper gplaceholder_wrapper form-with-labels-no-asterisks_wrapper has-new-validation-error-styling_wrapper' data-form-theme='gravity-theme' data-form-index='0' id='gform_wrapper_2453' style='display:none'><div id='gf_2453' class='gform_anchor' tabindex='-1'><\/div><form method='post' enctype='multipart\/form-data' target='gform_ajax_frame_2453' id='gform_2453' class='lawyer-form gplaceholder form-with-labels-no-asterisks has-new-validation-error-styling' action='\/api\/wp\/v2\/posts\/180263#gf_2453' data-formid='2453' novalidate>\n                        <div class='gform-body gform_body'><div id='gform_fields_2453' class='gform_fields top_label form_sublabel_below description_below validation_below'><div id=\"field_2453_1000\" class=\"gfield gfield--type-honeypot gform_validation_container field_sublabel_below gfield--has-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2453_1000'>Comments<\/label><div class='ginput_container'><input name='input_1000' id='input_2453_1000' type='text' value='' autocomplete='new-password'\/><\/div><div class='gfield_description' id='gfield_description_2453_1000'>This field is for validation purposes and should be left unchanged.<\/div><\/div><div id=\"field_2453_1\" class=\"gfield gfield--type-text gfield--input-type-text gf_left_half gfield--width-half gfield_contains_required field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2453_1'>First Name<span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='ginput_container ginput_container_text'><input name='input_1' id='input_2453_1' type='text' value='' class='medium'     aria-required=\"true\" aria-invalid=\"false\"   \/><\/div><\/div><div id=\"field_2453_12\" class=\"gfield gfield--type-text gfield--input-type-text gf_right_half gfield--width-half gfield_contains_required field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2453_12'>Last Name<span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='ginput_container ginput_container_text'><input name='input_12' id='input_2453_12' type='text' value='' class='medium'     aria-required=\"true\" aria-invalid=\"false\"   \/><\/div><\/div><div id=\"field_2453_2\" class=\"gfield gfield--type-email gfield--input-type-email gf_left_half gfield--width-half gfield_contains_required field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2453_2'>Email Address<span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='ginput_container ginput_container_email'>\n                            <input name='input_2' id='input_2453_2' type='email' value='' class='medium'    aria-required=\"true\" aria-invalid=\"false\"  \/>\n                        <\/div><\/div><div id=\"field_2453_3\" class=\"gfield gfield--type-phone gfield--input-type-phone gf_right_half gfield--width-half gfield_contains_required field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2453_3'>Phone<span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='ginput_container ginput_container_phone'><input name='input_3' id='input_2453_3' type='tel' value='' class='medium'   aria-required=\"true\" aria-invalid=\"false\"   \/><\/div><\/div><div id=\"field_2453_14\" class=\"gfield gfield--type-select gfield--input-type-select gfield--width-full custom-select gfield_contains_required field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2453_14'>Number of Employees in Your Business<span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='ginput_container ginput_container_select'><select name='input_14' id='input_2453_14' class='large gfield_select'    aria-required=\"true\" aria-invalid=\"false\" ><option value='' selected='selected'>Select ...<\/option><option value='0' >0<\/option><option value='1' >1-5<\/option><option value='6' >6-20<\/option><option value='21' >21-50<\/option><option value='51' >51-250<\/option><option value='250' >250+<\/option><\/select><\/div><\/div><div id=\"field_2453_4\" class=\"gfield gfield--type-textarea gfield--input-type-textarea gfield_contains_required field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2453_4'>Tell us about your enquiry<span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='ginput_container ginput_container_textarea'><textarea name='input_4' id='input_2453_4' class='textarea medium'     aria-required=\"true\" aria-invalid=\"false\"   rows='10' cols='50'><\/textarea><\/div><\/div><div id=\"field_2453_5\" class=\"gfield gfield--type-html gfield--input-type-html gfield_html gfield_html_formatted gfield_no_follows_desc field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  >By submitting this form, you agree to receive emails from LegalVision and can unsubscribe at any time. View our <a href=\"https:\/\/legalvision.co.uk\/privacy-notice\/\" target=\"_blank\">Privacy Policy<\/a>. <\/div><div id=\"field_2453_8\" class=\"gfield gfield--type-hidden gfield--input-type-hidden gform_hidden field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><div class='ginput_container ginput_container_text'><input name='input_8' id='input_2453_8' type='hidden' class='gform_hidden'  aria-invalid=\"false\" value='http:\/\/legalvision.co.uk\/api\/wp\/v2\/posts\/180263' \/><\/div><\/div><div id=\"field_2453_13\" class=\"gfield gfield--type-hidden gfield--input-type-hidden gform_hidden field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><div class='ginput_container ginput_container_text'><input name='input_13' id='input_2453_13' type='hidden' class='gform_hidden'  aria-invalid=\"false\" value='generic_form' \/><\/div><\/div><fieldset id=\"field_2453_999\" class=\"gfield gfield--type-checkbox gfield--type-choice gfield__uk-marketo-opt-in field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><legend class='gfield_label gform-field-label screen-reader-text' ><\/legend><div class='ginput_container ginput_container_checkbox'><div class='gfield_checkbox ' id='input_2453_999'><div class='gchoice gchoice_2453_999_1'>\n\t\t\t\t\t\t\t\t<input class='gfield-choice-input' name='input_999.1' type='checkbox'  value='1'  id='choice_2453_999_1'   \/>\n\t\t\t\t\t\t\t\t<label for='choice_2453_999_1' id='label_2453_999_1' class='gform-field-label gform-field-label--type-inline'>By submitting this form, you agree to receive content and event invitations from us to help you grow your business. If you do not want to receive such messages, tick here.<\/label>\n\t\t\t\t\t\t\t<\/div><\/div><\/div><\/fieldset><\/div><\/div>\n        <div class='gform-footer gform_footer top_label'> <button type=\"submit\" id=\"gform_submit_button_2453\" class=\"gform_button button\" onclick=\"gform.submission.handleButtonClick(this);\" data-submission-type=\"submit\"><span class=\"gform_submit_button__text\">Submit Now<\/span><\/button> <input type='hidden' name='gform_ajax' value='form_id=2453&amp;title=&amp;description=&amp;tabindex=0&amp;theme=gravity-theme&amp;hash=ec2463697d0d9cef7b71236ae60964c7' \/>\n            <input type='hidden' class='gform_hidden' name='gform_submission_method' data-js='gform_submission_method_2453' value='iframe' \/>\n            <input type='hidden' class='gform_hidden' name='gform_theme' data-js='gform_theme_2453' id='gform_theme_2453' value='gravity-theme' \/>\n            <input type='hidden' class='gform_hidden' name='gform_style_settings' data-js='gform_style_settings_2453' id='gform_style_settings_2453' value='' \/>\n            <input type='hidden' class='gform_hidden' name='is_submit_2453' value='1' \/>\n            <input type='hidden' class='gform_hidden' name='gform_submit' value='2453' \/>\n            \n            <input type='hidden' class='gform_hidden' name='gform_currency' data-currency='GBP' value='SSg9znSGTdsXWKOiqShCzhIcpAGAsnrxwYJHzQD69gtz+2TJYEHrcJWln81mk68PelP8wJ9Lbn9LvhF3z\/7NnnHTZilFCkxLyHEL\/IWJp6F+yDQ=' \/>\n            <input type='hidden' class='gform_hidden' name='gform_unique_id' value='' \/>\n            <input type='hidden' class='gform_hidden' name='state_2453' value='WyJ7XCIxNFwiOltcIjIyODY0N2ViMWU3NTcxZjA4YTY4NGJmMDcwMTk3Y2I0XCIsXCJiMzk3YmQ1MDBmMmFjNjk1ODE4MzdmNTBhYTA2MzQ0OFwiLFwiNGYyNGZkZGEwMzlkNDUxMWFhZGE1NGYwZmQwZmNiZTdcIixcIjUyMmJkMDE2M2I2ZmEwOTI3NDZhZjU5YTg0ZmM1NDk5XCIsXCIzODRlNjk1YjQxMTAzMWFiYmQ2ODEyMGYyZWFhMDYyNlwiLFwiYjkzNDcwNTE2MjkxOGRjZWViMjQzNzRjNmE0NGVmNTlcIixcIjQxMTliODZhMzVjYzJiMWViNDZiMmQ4NjRlNGUzZmNjXCJdfSIsIjQ3MjNiMzA2ZDIyZGVkODA2N2YyMjYyOThkYzI1ODVmIl0=' \/>\n            <input type='hidden' autocomplete='off' class='gform_hidden' name='gform_target_page_number_2453' id='gform_target_page_number_2453' value='0' \/>\n            <input type='hidden' autocomplete='off' class='gform_hidden' name='gform_source_page_number_2453' id='gform_source_page_number_2453' value='1' \/>\n            <input type='hidden' name='gform_field_values' value='' \/>\n            \n        <\/div>\n                        <\/form>\n                        <\/div>\n\t\t                <iframe style='display:none;width:0px;height:0px;' src='about:blank' name='gform_ajax_frame_2453' id='gform_ajax_frame_2453' title='This iframe contains the logic required to handle Ajax powered Gravity Forms.'><\/iframe>\n\t\t                <script>\ngform.initializeOnLoaded( function() {gformInitSpinner( 2453, 'https:\/\/legalvision.co.uk\/wp-content\/themes\/legalv-v6\/img\/spinner.svg', true );jQuery('#gform_ajax_frame_2453').on('load',function(){var contents = jQuery(this).contents().find('*').html();var is_postback = contents.indexOf('GF_AJAX_POSTBACK') >= 0;if(!is_postback){return;}var form_content = jQuery(this).contents().find('#gform_wrapper_2453');var is_confirmation = jQuery(this).contents().find('#gform_confirmation_wrapper_2453').length > 0;var is_redirect = contents.indexOf('gformRedirect(){') >= 0;var is_form = form_content.length > 0 && ! is_redirect && ! is_confirmation;var mt = parseInt(jQuery('html').css('margin-top'), 10) + parseInt(jQuery('body').css('margin-top'), 10) + 100;if(is_form){form_content.find('form').css('opacity', 0);jQuery('#gform_wrapper_2453').html(form_content.html());if(form_content.hasClass('gform_validation_error')){jQuery('#gform_wrapper_2453').addClass('gform_validation_error');} else {jQuery('#gform_wrapper_2453').removeClass('gform_validation_error');}setTimeout( function() { \/* delay the scroll by 50 milliseconds to fix a bug in chrome *\/ jQuery(document).scrollTop(jQuery('#gform_wrapper_2453').offset().top - mt); }, 50 );if(window['gformInitDatepicker']) {gformInitDatepicker();}if(window['gformInitPriceFields']) {gformInitPriceFields();}var current_page = jQuery('#gform_source_page_number_2453').val();gformInitSpinner( 2453, 'https:\/\/legalvision.co.uk\/wp-content\/themes\/legalv-v6\/img\/spinner.svg', true );jQuery(document).trigger('gform_page_loaded', [2453, current_page]);window['gf_submitting_2453'] = false;}else if(!is_redirect){var confirmation_content = jQuery(this).contents().find('.GF_AJAX_POSTBACK').html();if(!confirmation_content){confirmation_content = contents;}jQuery('#gform_wrapper_2453').replaceWith(confirmation_content);jQuery(document).scrollTop(jQuery('#gf_2453').offset().top - mt);jQuery(document).trigger('gform_confirmation_loaded', [2453]);window['gf_submitting_2453'] = false;wp.a11y.speak(jQuery('#gform_confirmation_message_2453').text());}else{jQuery('#gform_2453').append(contents);if(window['gformRedirect']) {gformRedirect();}}jQuery(document).trigger(\"gform_pre_post_render\", [{ formId: \"2453\", currentPage: \"current_page\", abort: function() { this.preventDefault(); } }]);        if (event && event.defaultPrevented) {                return;        }        const gformWrapperDiv = document.getElementById( \"gform_wrapper_2453\" );        if ( gformWrapperDiv ) {            const visibilitySpan = document.createElement( \"span\" );            visibilitySpan.id = \"gform_visibility_test_2453\";            gformWrapperDiv.insertAdjacentElement( \"afterend\", visibilitySpan );        }        const visibilityTestDiv = document.getElementById( \"gform_visibility_test_2453\" );        let postRenderFired = false;        function triggerPostRender() {            if ( postRenderFired ) {                return;            }            postRenderFired = true;            gform.core.triggerPostRenderEvents( 2453, current_page );            if ( visibilityTestDiv ) {                visibilityTestDiv.parentNode.removeChild( visibilityTestDiv );            }        }        function debounce( func, wait, immediate ) {            var timeout;            return function() {                var context = this, args = arguments;                var later = function() {                    timeout = null;                    if ( !immediate ) func.apply( context, args );                };                var callNow = immediate && !timeout;                clearTimeout( timeout );                timeout = setTimeout( later, wait );                if ( callNow ) func.apply( context, args );            };        }        const debouncedTriggerPostRender = debounce( function() {            triggerPostRender();        }, 200 );        if ( visibilityTestDiv && visibilityTestDiv.offsetParent === null ) {            const observer = new MutationObserver( ( mutations ) => {                mutations.forEach( ( mutation ) => {                    if ( mutation.type === 'attributes' && visibilityTestDiv.offsetParent !== null ) {                        debouncedTriggerPostRender();                        observer.disconnect();                    }                });            });            observer.observe( document.body, {                attributes: true,                childList: false,                subtree: true,                attributeFilter: [ 'style', 'class' ],            });        } else {            triggerPostRender();        }    } );} );\n<\/script>\n<\/div>\n<\/div>\n<div id=\"content-next\"><!-- scroll anchor --><\/div>\n<h2><span style=\"font-weight: 400\">When Does Training Occur?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Training a new owner can occur before or after the ownership transfer.\u00a0<\/span><span style=\"font-weight: 400\">Some parties agree to train before the sale takes effect, known as <\/span><a href=\"https:\/\/legalvision.co.uk\/corporations\/conditions-precedent\/\"><span style=\"font-weight: 400\">pre-completion training<\/span><\/a><span style=\"font-weight: 400\">. This tends to result in face-to-face meetings in which the respective owners chat about the general operation of the business and key tasks to undertake upon taking control.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Alternatively, the parties can agree that training will only occur after the sale takes effect, known as post-completion. This can happen where the seller only wishes to commit the time to do so upon the sale being effective. However, this can sometimes be awkward for the individuals involved (and staff) as there will be an old and new owner in the building simultaneously.\u00a0\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Can I Charge a Fee for Charging the New Owner?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">You can reflect the hours of training you will undertake in the sale price of your business. As such, the sale agreement will usually confirm the details of the training rather than setting an additional fee.<\/span><\/p>\n<div class=\"box box--icon box--info\">\n<p><span style=\"font-weight: 400\">In light of the lack of chargeable fees, many business owners only agree to de facto training courses after the sale (to save time and resources on a deal that might not happen).<\/span><\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">Similarly, some people will only agree to the provision of training if they believe that the operation of the business is exceptionally complex or the new owners need to gain more knowledge of that sector. If the incoming owners have previous business success and good business skills, the seller is unlikely to regard them as needing additional training.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">What if I Refuse to Train the New Owners?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">You may be <\/span><a href=\"https:\/\/legalvision.co.uk\/sale-purchase\/selling-uk-business\/\"><span style=\"font-weight: 400\">selling the business<\/span><\/a><span style=\"font-weight: 400\"> to take a step away from the industry and wish to leave on the transfer date and not look back. In this case, prolonging your involvement with the business to help train the new owners will be difficult.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The decision of whether to train new owners is part of standard negotiations upon a business sale, so you need to weigh up the pros and cons. On the one hand, you are in charge of whether you offer training, but, on the flip side, refusing to do so may risk the sale.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Notably, there is no legal requirement to train new owners. However, once you agree to train the new owners and it becomes part of your binding sale contract, you have a contractual (legal) obligation to follow through with your promise.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Key Takeaways<\/span><\/h2>\n<p><span style=\"font-weight: 400\">There is no legal requirement for outcoming business owners to provide training to new owners. Instead, this is a point of negotiation when attempting to agree on the wording of sale and purchase documentation.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Many business sellers will make this decision on a personal basis, dependent on the identity of the new owners and any strong emotional connection to the business. Whilst some owners may feel that their closeness to the company means they desperately want the new owners to succeed, others may wish to depart quickly.<\/span><\/p>\n<p><span style=\"font-weight: 400\">If you need assistance drafting the terms of your business sale agreement, our experienced <\/span><a href=\"https:\/\/legalvision.co.uk\/business-sale-purchase-lawyers-lp\/\"><span style=\"font-weight: 400\">business sale lawyers<\/span><\/a><span style=\"font-weight: 400\"> can assist as part of our LegalVision membership. For a low monthly fee, you will have unlimited access to lawyers to answer your questions and draft and review your documents. Call us today on <a href=\"tel:+448081968584\" class=\"AVANSERnumber dynamic-number\">0808 196 8584<\/a> or visit our <\/span><a href=\"https:\/\/legalvision.co.uk\/membership\/\"><span style=\"font-weight: 400\">membership page<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Frequently Asked Questions<\/span><\/h2>\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1680584525028\"><strong class=\"schema-faq-question\"><strong>Is it a good idea to offer to train new owners?<\/strong><\/strong> <p class=\"schema-faq-answer\">Whether you offer to train new owners will depend on the situation surrounding the sale of your business. If the new owners have a history of running successful companies in the same sector, conducting training might not be worth your time. However, if the new owner is in a position to pay a higher sale price that suits you, you might decide to train them.\u00a0<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1680584536400\"><strong class=\"schema-faq-question\"><strong>Does the training have to take place in person?<\/strong><\/strong> <p class=\"schema-faq-answer\">No, current and future owners can train via video conference or telephone. Much will depend on the preferences of the parties and the wording of the relevant sale and purchase documentation.<\/p> <\/div> <\/div>\n","protected":false},"excerpt":{"rendered":"<p>For many business owners, the main aim of any company sale is to find a suitable buyer and obtain a reasonable sale price. Among other terms in your business sale agreement, there might be a clause requiring you to train the new owners of your business. This article will consider your post-sale obligations and whether<a href=\"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/\">Continue reading <span class=\"sr-only\">&#8220;Do I Need to Train the New Owners After Selling My UK Business?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":13349,"featured_media":3206,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"175645,2731,1330,2102,179773,177098","_relevanssi_noindex_reason":"","editor_notices":[],"footnotes":""},"categories":[29],"tags":[20,21,834,903,1285,1286],"class_list":["post-180263","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-sale-purchase","tag-small-business","tag-medium-business","tag-business-sale","tag-conditionss-precedent","tag-post-completion","tag-train-new-owners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Train New Owners After a Business Sale | LegalVision UK<\/title>\n<meta name=\"description\" content=\"Are you selling your business in the UK? We explore whether you need to train the new owners and what this might legally involve.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Train New Owners After a Business Sale | LegalVision UK\" \/>\n<meta property=\"og:description\" content=\"Are you selling your business in the UK? We explore whether you need to train the new owners and what this might legally involve.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/\" \/>\n<meta property=\"og:site_name\" content=\"LegalVision UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/LegalVision\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-04T05:06:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-05T23:19:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2022\/05\/24122032\/business-image-0522147.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"931\" \/>\n\t<meta property=\"og:image:height\" content=\"621\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Thomas Sutherland\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@LegalVision_law\" \/>\n<meta name=\"twitter:site\" content=\"@LegalVision_law\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Thomas Sutherland\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/\"},\"author\":{\"name\":\"Thomas Sutherland\",\"@id\":\"https:\/\/legalvision.co.uk\/#\/schema\/person\/46d22f7d1b4ba321fe5b1cdc648cc5d2\"},\"headline\":\"Do I Need to Train the New Owners After Selling My UK Business?\",\"datePublished\":\"2023-04-04T05:06:44+00:00\",\"dateModified\":\"2023-04-05T23:19:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/\"},\"wordCount\":1009,\"image\":{\"@id\":\"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2022\/05\/24122032\/business-image-0522147.jpg\",\"keywords\":[\"small business\",\"medium business\",\"business sale\",\"conditionss precedent\",\"post-completion\",\"train new owners\"],\"articleSection\":[\"Business Sale and Purchase Articles\"],\"inLanguage\":\"en-GB\"},{\"@type\":[\"WebPage\",\"FAQPage\"],\"@id\":\"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/\",\"url\":\"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/\",\"name\":\"Train New Owners After a Business Sale | LegalVision UK\",\"isPartOf\":{\"@id\":\"https:\/\/legalvision.co.uk\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2022\/05\/24122032\/business-image-0522147.jpg\",\"datePublished\":\"2023-04-04T05:06:44+00:00\",\"dateModified\":\"2023-04-05T23:19:41+00:00\",\"author\":{\"@id\":\"https:\/\/legalvision.co.uk\/#\/schema\/person\/46d22f7d1b4ba321fe5b1cdc648cc5d2\"},\"description\":\"Are you selling your business in the UK? We explore whether you need to train the new owners and what this might legally involve.\",\"breadcrumb\":{\"@id\":\"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#breadcrumb\"},\"mainEntity\":[{\"@id\":\"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#faq-question-1680584525028\"},{\"@id\":\"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#faq-question-1680584536400\"}],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#primaryimage\",\"url\":\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2022\/05\/24122032\/business-image-0522147.jpg\",\"contentUrl\":\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2022\/05\/24122032\/business-image-0522147.jpg\",\"width\":931,\"height\":621,\"caption\":\"Do Voidable Transactions Survive Liquidation? | LegalVision UK\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/legalvision.co.uk\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business Sale and Purchase Articles\",\"item\":\"https:\/\/legalvision.co.uk\/category\/business-sale-purchase\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Do I Need to Train the New Owners After Selling My UK Business?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/legalvision.co.uk\/#website\",\"url\":\"https:\/\/legalvision.co.uk\/\",\"name\":\"LegalVision UK\",\"description\":\"LegalVision is a commercial law firm in the UK with a commitment to innovation\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/legalvision.co.uk\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/legalvision.co.uk\/#\/schema\/person\/46d22f7d1b4ba321fe5b1cdc648cc5d2\",\"name\":\"Thomas Sutherland\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/legalvision.co.uk\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/legalvision.co.uk\/wp-content\/uploads\/sites\/4\/2022\/05\/cropped-Thomas-Sutherland-96x96.jpg\",\"contentUrl\":\"https:\/\/legalvision.co.uk\/wp-content\/uploads\/sites\/4\/2022\/05\/cropped-Thomas-Sutherland-96x96.jpg\",\"caption\":\"Thomas Sutherland\"},\"description\":\"Tom is an Expert Legal Contributor for LegalVision. He has particular expertise in Commercial and Employment litigation, as well as data protection and privacy regulations. He is a qualified Solicitor in England and Wales and has a decade of legal experience, including advocacy within civil courts and Tribunals. Tom specialises in civil and employment litigation. He has extensive experience in advising employers and companies as to the requirements of employment law and data protection rules, as well as day-to-day advice on smooth running from a commercial perspective. Qualifications: Professional Skills Course - Law, University of Law; Legal Practice Course - Law, College of Law; Bachelor of Laws, University of Southampton.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/tom-sutherland-72b4509b\/\"],\"url\":\"https:\/\/legalvision.co.uk\/author\/thomassutherland\/\"},{\"@type\":\"Question\",\"@id\":\"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#faq-question-1680584525028\",\"name\":\"Is it a good idea to offer to train new owners?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Whether you offer to train new owners will depend on the situation surrounding the sale of your business. If the new owners have a history of running successful companies in the same sector, conducting training might not be worth your time. However, if the new owner is in a position to pay a higher sale price that suits you, you might decide to train them.\u00a0\",\"inLanguage\":\"en-GB\"},\"inLanguage\":\"en-GB\"},{\"@type\":\"Question\",\"@id\":\"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#faq-question-1680584536400\",\"name\":\"Does the training have to take place in person?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No, current and future owners can train via video conference or telephone. Much will depend on the preferences of the parties and the wording of the relevant sale and purchase documentation.\",\"inLanguage\":\"en-GB\"},\"inLanguage\":\"en-GB\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Train New Owners After a Business Sale | LegalVision UK","description":"Are you selling your business in the UK? We explore whether you need to train the new owners and what this might legally involve.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/","og_locale":"en_GB","og_type":"article","og_title":"Train New Owners After a Business Sale | LegalVision UK","og_description":"Are you selling your business in the UK? We explore whether you need to train the new owners and what this might legally involve.","og_url":"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/","og_site_name":"LegalVision UK","article_publisher":"https:\/\/www.facebook.com\/LegalVision","article_published_time":"2023-04-04T05:06:44+00:00","article_modified_time":"2023-04-05T23:19:41+00:00","og_image":[{"width":931,"height":621,"url":"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2022\/05\/24122032\/business-image-0522147.jpg","type":"image\/jpeg"}],"author":"Thomas Sutherland","twitter_card":"summary_large_image","twitter_creator":"@LegalVision_law","twitter_site":"@LegalVision_law","twitter_misc":{"Written by":"Thomas Sutherland","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#article","isPartOf":{"@id":"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/"},"author":{"name":"Thomas Sutherland","@id":"https:\/\/legalvision.co.uk\/#\/schema\/person\/46d22f7d1b4ba321fe5b1cdc648cc5d2"},"headline":"Do I Need to Train the New Owners After Selling My UK Business?","datePublished":"2023-04-04T05:06:44+00:00","dateModified":"2023-04-05T23:19:41+00:00","mainEntityOfPage":{"@id":"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/"},"wordCount":1009,"image":{"@id":"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#primaryimage"},"thumbnailUrl":"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2022\/05\/24122032\/business-image-0522147.jpg","keywords":["small business","medium business","business sale","conditionss precedent","post-completion","train new owners"],"articleSection":["Business Sale and Purchase Articles"],"inLanguage":"en-GB"},{"@type":["WebPage","FAQPage"],"@id":"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/","url":"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/","name":"Train New Owners After a Business Sale | LegalVision UK","isPartOf":{"@id":"https:\/\/legalvision.co.uk\/#website"},"primaryImageOfPage":{"@id":"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#primaryimage"},"image":{"@id":"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#primaryimage"},"thumbnailUrl":"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2022\/05\/24122032\/business-image-0522147.jpg","datePublished":"2023-04-04T05:06:44+00:00","dateModified":"2023-04-05T23:19:41+00:00","author":{"@id":"https:\/\/legalvision.co.uk\/#\/schema\/person\/46d22f7d1b4ba321fe5b1cdc648cc5d2"},"description":"Are you selling your business in the UK? We explore whether you need to train the new owners and what this might legally involve.","breadcrumb":{"@id":"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#breadcrumb"},"mainEntity":[{"@id":"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#faq-question-1680584525028"},{"@id":"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#faq-question-1680584536400"}],"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#primaryimage","url":"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2022\/05\/24122032\/business-image-0522147.jpg","contentUrl":"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2022\/05\/24122032\/business-image-0522147.jpg","width":931,"height":621,"caption":"Do Voidable Transactions Survive Liquidation? | LegalVision UK"},{"@type":"BreadcrumbList","@id":"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/legalvision.co.uk\/"},{"@type":"ListItem","position":2,"name":"Business Sale and Purchase Articles","item":"https:\/\/legalvision.co.uk\/category\/business-sale-purchase\/"},{"@type":"ListItem","position":3,"name":"Do I Need to Train the New Owners After Selling My UK Business?"}]},{"@type":"WebSite","@id":"https:\/\/legalvision.co.uk\/#website","url":"https:\/\/legalvision.co.uk\/","name":"LegalVision UK","description":"LegalVision is a commercial law firm in the UK with a commitment to innovation","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/legalvision.co.uk\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/legalvision.co.uk\/#\/schema\/person\/46d22f7d1b4ba321fe5b1cdc648cc5d2","name":"Thomas Sutherland","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/legalvision.co.uk\/#\/schema\/person\/image\/","url":"https:\/\/legalvision.co.uk\/wp-content\/uploads\/sites\/4\/2022\/05\/cropped-Thomas-Sutherland-96x96.jpg","contentUrl":"https:\/\/legalvision.co.uk\/wp-content\/uploads\/sites\/4\/2022\/05\/cropped-Thomas-Sutherland-96x96.jpg","caption":"Thomas Sutherland"},"description":"Tom is an Expert Legal Contributor for LegalVision. He has particular expertise in Commercial and Employment litigation, as well as data protection and privacy regulations. He is a qualified Solicitor in England and Wales and has a decade of legal experience, including advocacy within civil courts and Tribunals. Tom specialises in civil and employment litigation. He has extensive experience in advising employers and companies as to the requirements of employment law and data protection rules, as well as day-to-day advice on smooth running from a commercial perspective. Qualifications: Professional Skills Course - Law, University of Law; Legal Practice Course - Law, College of Law; Bachelor of Laws, University of Southampton.","sameAs":["https:\/\/www.linkedin.com\/in\/tom-sutherland-72b4509b\/"],"url":"https:\/\/legalvision.co.uk\/author\/thomassutherland\/"},{"@type":"Question","@id":"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#faq-question-1680584525028","name":"Is it a good idea to offer to train new owners?","acceptedAnswer":{"@type":"Answer","text":"Whether you offer to train new owners will depend on the situation surrounding the sale of your business. If the new owners have a history of running successful companies in the same sector, conducting training might not be worth your time. However, if the new owner is in a position to pay a higher sale price that suits you, you might decide to train them.\u00a0","inLanguage":"en-GB"},"inLanguage":"en-GB"},{"@type":"Question","@id":"https:\/\/legalvision.co.uk\/business-sale-purchase\/train-new-owners\/#faq-question-1680584536400","name":"Does the training have to take place in person?","acceptedAnswer":{"@type":"Answer","text":"No, current and future owners can train via video conference or telephone. Much will depend on the preferences of the parties and the wording of the relevant sale and purchase documentation.","inLanguage":"en-GB"},"inLanguage":"en-GB"}]}},"_links":{"self":[{"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/posts\/180263","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/users\/13349"}],"replies":[{"embeddable":true,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/comments?post=180263"}],"version-history":[{"count":4,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/posts\/180263\/revisions"}],"predecessor-version":[{"id":180323,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/posts\/180263\/revisions\/180323"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/media\/3206"}],"wp:attachment":[{"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/media?parent=180263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/categories?post=180263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/tags?post=180263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}