We are committed to keeping your information private. By 'your information' we mean any information about you that you or third parties provide to us. This policy relates to the privacy of your information at Abercorn Business Sales.
About Abercorn Business Sales
Abercorn Business Sales is a trading name of Abercorn Limited whose registered number is Company number 06655191 and registered office is Savoy House, Savoy Circus, London. W3 7DA
At Abercorn Business Sales, we’re committed to respecting and protecting your privacy.
We are committed to protecting your personal data. We’ll use your information for a number of different purposes, for example to provide our services to you and others and to meet our legal and regulatory obligations. This document aims to explain how we (Abercorn Limited trading as Abercorn Business Sales)
On this website, "AbercornBusinessSales.com", "our" and "we" each mean Abercorn Limited trading as Abercorn Business Sales, which collect and use your information in the manner set out in this Privacy Notice. Any reference to "you" or "“your" refers to anyone whose personal information we process.
Our use of your personal data will be governed by this Privacy Notice.Abercorn Limited is a controller for the personal information collected.Abercorn Limited is a controller for the personal information that it collects and uses about you.
We will treat your personal information as confidential and in accordance with applicable data protection legislation and your personal information will only be shared with others in accordance with this Privacy Notice.
This Privacy Notice explains;
- What personal information is
- How we collect your personal information
- The types of personal information we collect
- How we use your personal information
- The legal basis for processing your personal information
- How we share your personal information
- How long we keep your personal information
- How we keep your personal information secure
- Overseas transfers of your personal information
- Your rights in relation to your personal information
- How to make complaints and how to contact us
If there are any changes to the way in which your personal information is used, this Privacy Notice will be updated.
What is personal information?
Personal information is any information that tells us something about you. This could include information such as name, contact details, date of birth, or any information about your needs or circumstances which would allow us to identify you.
Some personal information is classified as "special" data under data protection legislation. This includes information relating to health, racial or ethnic origin, religious beliefs or political opinions and sexual orientation.
This information is more sensitive and we need to have further justifications for collecting, storing and using this type of personal information. There are also additional restrictions on the circumstances in which we are permitted to collect and use criminal conviction data.
Any references to personal information in this privacy notice will include personal data, and where relevant, special categories of personal data.
What personal information do we collect?
We will collect your full name and contact details (such as phone number, email address and postal address) from you whenever you engage with us.
In addition, if we are providing a service to you, or on your behalf, where we are required to do so by law, we will collect information relating to your identity, which will be at least one form of photographic identification (such as a passport, a driving licence or an identification card) and one form of documentation with proof of your place of residence (such as a recent utility bill).
We will also confirm whether you have any relatives or close connections working at Abercorn Limited so that we can consider potential conflict of interests and if identified how to manage these, in accordance with our statutory and regulatory obligations.
Depending on the service that we provide to you (or on your behalf) we may also collect additional personal information as detailed below;
Selling a Business.
If you are potentially selling a business or company, requesting a business appraisal and valuation of a business or company through us, we will collect your contact details, your business details, and any volunteered details, for example completed questionnaires and phone calls.
If you are selling a business or company with Abercorn Limited, we will collect your contact details, business details, identification, and all information necessary to complete your business or company sale.
Buying a Business.
If you are potentially buying a business or company, requesting information on a business or company we will collect volunteered details from the confidentiality agreement, contact details, business background details and your ability to fund purchase.
Anti-money laundering and counter terrorist financing requirements.
Where you instruct Abercorn Limited, we may collect information required to identify you to meet anti-money laundering and counter terrorist financing requirements.
If we are dealing with an entity such as a business or company, we may need to obtain personal information for the shareholders and those in a position of control. This will include, but is not limited to, identity and address documents. We may also need to collect information on other individuals who have an interest in the business or company who are not considered to be our clients.
Where we are working alongside third parties such as solicitors, accountants, finance providers or landlords, we may need to share these documents on the basis of legitimate interests.
Newsletter or other market updates.
If you subscribe to receive our newsletter or other market updates from us, then in addition to the above we will collect details about the sector in which you work and the type of content that you would like to receive.
How we use your personal information
What is the legal basis of our data processing?
Under data protection legislation we are only permitted to use your personal information if we have a legal basis for doing so. We rely on the following legal bases to use your information;
For employment-related purposes.
Where we need information to perform the contract, we have entered into with you.
Where we need to comply with a legal obligation.
Where the processing is necessary for us to carry out activities for which it is in Abercorn Limited legitimate interests (or those of a third party) to do so and provided that your interests and fundamental rights do not override those interests, including:
Processing that is necessary for us to promote our business, brands and services and measure the reach and effectiveness of our campaigns. This will include sending you marketing information from time to time after you have engaged us to provide services or received services from us either which may be similar and of interest to you or where you have expressly indicated that you would like to receive such information. You have the right to opt out of receiving this information at any time.
Processing that is necessary to improve our knowledge of the Business Brokerage/Business Transfer sector. This will include undertaking market analysis and research so that we better understand trends in the Business Brokerage/ Business Transfer sector and provide better knowledge along with more tailored and relevant services for our client in the future.
Processing necessary for us to operate the administrative and technical aspects of our business efficiently and effectively. This will include verifying the accuracy of information that we hold about you and create a better understanding of you as a client; processing for administrative efficiency purposes such as where we outsource certain administrative functions to third parties who are specialise in such services;
processing for network and information security purposes i.e., in order for us to take steps to protect your information against loss, damage, theft or unauthorised access or to comply with a request from you in connection with the exercise of any of your rights outlined below.
In more limited circumstances we may also rely on the following legal bases:
Where we need to protect your interests (or someone else's interests);
Where it is needed in the public interest or for official purposes
Where it is needed comply with laws and regulations, including to establish, exercise or defend legal claims and assist in dispute resolution.
We may process special categories of personal information and criminal conviction information in the following limited circumstances:
With your explicit consent, in which case we will explain the purpose for which the information will be used at the point where we ask for your consent.
Specific information on how your personal information will be used for the particular services you have requested from us is provided below.
Selling a business or company.
We use your personal information for the purposes of fulfilling our obligations to you to sell your business or company.
We will share your personal information with your appointed solicitors and the solicitors and accountants acting for the other side of the deal as is necessary to facilitate the sale or purchase.
We may also share your personal information with the finance provider, and your landlord, as the case may be.
We will share your personal data with third party referencing agencies for the purposes of the prevention and detection of crime, fraud and/or money laundering and where it is needed to comply with laws and regulations, including establishing, exercise or defend legal claims and assist in dispute resolution.
Buying a business or company
We will share your personal information with your appointed solicitors and the solicitors and accountants acting for the other side of the deal as is necessary to facilitate the sale or purchase. We may also share your personal information with the finance provider, as the case may be.
We will share your personal data with third party referencing agencies for the purposes of the prevention and detection of crime, fraud and/or money laundering and checking your ability to purchase that business.
We will share your personal data, if you are a prospective buyer, for the purposes of arranging viewings, obtaining feedback, offers, negotiations and arranging the Heads of Agreement for the sale/purchase.
We will use your personal information to conduct due diligence in accordance with other legal or regulatory obligations.
We will share your personal information with your appointed solicitors and the solicitors and agents acting for the other side of the deal as is necessary to facilitate the sale.
We may also share your personal information with accountants
We will share your personal data with third party referencing agencies for the purposes of the prevention and detection of crime, fraud and/or money laundering and checking your suitability to purchase that business or company.
Other uses of your personal information.
We will share personal information where it is needed to comply with laws and regulations, including to establish, exercise or defend legal claims and assist in dispute resolution, and with regulators, governmental or quasi-governmental organisations, law enforcement authorities and with courts, tribunals and arbitrators as may be required from time to time in order to comply with our regulatory and legal obligations.
Where we use third party services providers who process personal information on our behalf in order to provide services to us. This includes IT systems providers and IT contractors as well as third party referencing or screening agencies for the purposes of the prevention and detection of crime.
We may share your personal information with any person working within Abercorn Limited on a need-to-know basis to ensure we are able to perform our obligations to you.
We will hold your personal information on our client management systems and use this to provide you with marketing information about similar services offered by Abercorn Limited to those which you have engaged us to provide which we feel you might find useful from time to time. You have the opportunity to opt out of receiving this information at any time.
What happens if you do not provide information that we request?
We need some of your personal information to perform the services you have requested from us.
where we are selling a business on your behalf, we need to know your contact information so that we can update you with information on viewings, offers, negotiations and the progress of the sale;
We also need some information so that we can comply with our legal obligations. For example, we may need identity documents from you to meet our obligations to prevent fraud and money laundering.
If you do not provide the information required for these purposes, we will not be able to perform our contract with you and may not be able to provide services to you or continue to provide certain services to you. We will explain when this is the case at the point where we collect information from you.
How we keep your information secure.
The security of information is very important to us and we have measures in place which are designed to prevent unauthorised access to your personal information including but not limited to:
Our client files are stored on our secure client management systems. Access is restricted on our client systems to those within the business who are required to have access to your information for legitimate business purposes.
Hard copy documentation is stored in locked cabinets.
All data is hosted in data centres which have systems and protections in place to protect against both unauthorised access, and other external factors that could cause damage to your personal data. There are strict access requirements in place and access is restricted to those absolutely necessary.
We ensure access to personal information is restricted to Abercorn Limited employees and workers or other persons working within the Abercorn Limited on a need-to-know basis. Training is provided to any of those Abercorn Limited employees and workers who need access to personal information.
For how long do we keep your personal information?
The period for which we will keep your personal information will depend on the type of service you have requested from us. The retention period may be longer than the period for which we are providing services to you where we have statutory or regulatory obligations to retain personal information for a longer period, or where we may need to retain the information in case of a legal claim.
Overseas transfers of your personal information.
We may transfer, store, or process your personal information in locations outside the UK and the European Economic Area (EEA). Where the countries to which your personal information is transferred do not offer an equivalent level of protection for personal information to the laws of the UK, we will ensure that appropriate safeguards are put in place.
We'll use one of these safeguards:
Transfer it to a non-EEA country with privacy laws that give the same protection as the EEA. Learn more on the European Commission Justice website.
Put in place a contract with the recipient that means they must protect it to the same standards as the EEA. Read more about this here on the European Commission Justice website.
Transfer it to organisations that are part of Privacy Shield. This is a framework that sets privacy standards for data sent between the US and EU countries. It makes sure those standards are similar to what is used within the EEA. You can find out more about data protection on the European Commission Justice website.
Your rights in relation to your personal information.
You have a number of rights in relation to your personal information, including the right to:
Be informed about how we use your personal information
Obtain access to your personal information that we hold
Request that your personal information is corrected if you believe it is incorrect, incomplete or inaccurate.
Request that we erase your personal information in the following circumstances:
If Abercorn Limited is continuing to process personal information beyond the period when it is necessary to do so for the purpose for which it was originally collected
If Abercorn Limited is relying on consent as the legal basis for processing and you withdraw consent.
If Abercorn Limited is relying on legitimate interests as the legal basis for processing and you object to this processing and there is no overriding compelling ground which enables us to continue with the processing.
If the personal information has been processed unlawfully (i.e., in breach of the requirements of the data protection legislation).
If it is necessary to delete the personal information to comply with a legal obligation.
Ask us to restrict our data processing activities where you consider that:
Personal information is inaccurate.
Our processing of your personal information is unlawful.
Where we no longer need the personal information but you require us to keep it to enable you to establish, exercise or defend a legal claim.
Where you have raised an objection to our use of your personal information.
Request a copy of certain personal information that you have provided to us in a commonly used electronic format. This right relates to personal information that you have provided to us that we need in order to perform our agreement with you and personal information where we are relying on consent to process your personal information.
Object to our processing of your personal information where we are relying on legitimate interests or exercise of a public interest task to make the processing lawful. If you raise an objection, we will carry out an assessment to determine whether we have an overriding legitimate ground which entitles us to continue to process your personal information; and
Not be subject to wholly automated decisions which produce legal effects or which could have a similarly significant effect on you.
If you would like to exercise any of your rights, please contact dpm@AbercornBusinessSales.com
Please note that we will keep a record of the fact that you have made a request to exercise your rights, and our response to your request, in order to demonstrate compliance with our data protection obligations and so that we can handle any queries, complaints or claims in relation to your request. This record will be kept in accordance with our retention policies at section 6 above.
Complaints and Contact Details.
If you have any complaints about the way we use your personal information please contact the Customer Relations Officer at dpm@AbercornBusinessSales.com who will try to resolve the issue. If we cannot resolve any issue, you have the right to complain to the data protection authority in your country (the Information Commissioner in the UK).
If you need more information about how to contact your local data protection authority, please let us know by contacting dpm@AbercornBusinessSales.com
Your first step to a successful and profitable sale of your business, is to call 0800 246 13 13 and arrange for your free, no obligation business valuation and appraisal.
© 2008-2022 Abercorn Limited trading as Abercorn Business Sales All Rights Reserved.