Company due Diligence in Norway
Company Due Diligence in NorwayUpdated on Tuesday 02nd May 2017
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The Company Act in Norway imposes certain regulations to companies and company owners in order to grant a safe and efficient commercial climate. It is advisable that in view of the acquisition of a company in this country to employ a due diligence procedure. Through this process, a foreign investor can verify the status of the company that he/she intends to buy, and reduce the risks implied by an uninformed investment. Our law firm in Norway is ready to perform for you due diligence procedures for the verification of the company of your choice.
Due diligence procedures in Norway
Whether an investor needs to verify the trustworthiness of another company in order to purchase it or to sign partnership agreements with it, our Norwegian lawyers can contribute with detailed information on the legal history and status of the company.
If you are interested in the validity of a sale and purchase contract or if you need to check whether the ownership of the company is valid, it means you need legal due diligence which is one type of procedure implied in a throughout verification of a company. Another type of procedure, the financial due diligence is responsible with the evaluation of the companies’ financial situation. Our law firm in Norway provides as well a third type of procedure, commercial due diligence, which implies the realization of an overview of the business context of a company, including a description of its position on the market and its main competitors in the field.
The main areas covered by Norwegian due diligence
You can start a due diligence procedure in Norway after you have decided on the company that you intend to purchase and you have involved in discussing the conditions of the transaction. It is advisable to discuss as well an initial offer in terms of the price requested for the company and our Norwegian lawyers will be able to tell you whether the proposition was done in good faith.
The aspects covered by the Norwegian due diligence procedure conducted by our attorneys in Norway refer to :
- • employment issues, establishing whether the company respected the regulations of the employment regulation;
- • litigation, checking whether any legal actions have been taken against the company;
- • contracts, verifying whether the company’s agreements have been signed in compliance with the legal provisions;
- • payroll record, deciding whether the company’s transactions are in order.
For further information on Norwegian company due diligence steps and procedures feel free to contact our law firm in Norway.