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Can you get compensated to raise funds or sell a business on

behalf of a client in...
Can you get compensated to raise funds or sell a business on behalf of a client in the UK?
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Answered in 43 minutes by:
10/8/2013
Stuart J
Stuart J, Solicitor
Category: UK Employment Law
Satisfied Customers: 22,624
Experience: PGD Law. 20 years legal profession, 6 as partner in High Street practice
Verified

Can we have the full background as to what you are opposing to do and what you are looking for please? Thank you
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Customer reply replied 4 years ago

1- scenario 1: we raise funds on behalf of client to fund a venture + retainer


2- scenario 2: selling a business. Getting a percentage of the selling price + retainer. It can be selling the equity or selling the assets.


 


3- scenario 3: introducing a fund to a team looking to raise a hedge fund. Compensation is a percentage of the management fee and a percentage of the performance fee for the time length of the fund.



1
You can't raise funds unless you have a consumer credit
licence

2
there is no problem whatsoever selling the business and
charging a fee for doing so and you do not need any kind of registration



3
ditto doing this



does that answer? Can I answer any specific points?

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Customer reply replied 4 years ago

1- This is about raising money for a start-up or a mid cap. We will submit a business plan and the investor will sign a share agreement to get shares against money invested in the company


 


3- ditto means the same answer as 2


 

1 It depends on whether you are approaching lenders as to whether u need a CCL.

 

3 Yes

 

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Customer reply replied 4 years ago

1- It is about raising equity fund. i don't know what is a ccl?


 


 

CCL is a consumer credit licence which I referred to in the first post.

You don’t need a consumer credit licence to put the proposal together and the business plan and the cash flow forecast and prepare the applications.

You do need a consumer credit licence if you intend to submit them on behalf of the company and the company is not making the application itself or in on behalf of individuals, if the individuals are not submitting the application themselves

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Customer reply replied 4 years ago

There is no application in the sense that the investor will submit his letter of intent or purchase sale agreement directly.


 

directly to who? The lender? What type of lender is it? Who found the lender?

I do need full background please.

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Customer reply replied 4 years ago

There is no lender. An individual or corporate entity will invest money.


 

Thank you. In these circumstances, I don’t think you do need a consumer credit licence and there is no harm in you charging a fee for what you are doing.

Does that answer the question?

Stuart J
Stuart J, Solicitor
Category: UK Employment Law
Satisfied Customers: 22,624
Experience: PGD Law. 20 years legal profession, 6 as partner in High Street practice
Verified
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Stuart J
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Stuart J, Solicitor
Category: UK Employment Law
Satisfied Customers: 22,624
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Experience: PGD Law. 20 years legal profession, 6 as partner in High Street practice

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