Buying an existing business without a lawyer can be risky. A lawyer can play a variety of roles if you are considering buying a business or starting a new business. You want ensure that you are not inheriting the debts and legal problems of the former owner.
What if the owner has misrepresented the sales or income of the business? Does he or she have the right to the business name? How much time is left on the lease? Does he or she owe money on the inventory or equipment and could it be repossessed by the suppliers? Does the landlord agree to the sale?
A lawyer’s role in the process of buying a business is not limited to the technical aspects such as preparing a purchase agreement or reviewing a lease, or just incorporating of a new company. We can assist in investigating these and other important aspects of buying a business and can also help structure the transaction to your best asset protection advantage.
Proper legal advice will go along way to ensuring that you understand the potential risks of the business purchase. It is imperative that in the enthusiasm to acquire a business or start a new business that these types of issues are explored.
We provide fast and cost-effective advice in these matters.
Selling A Business
The sale of a business, large or small, must be properly documented to ensure that you exit well. Addressing the technical issues will assist in protecting your legal interests.
We draw on our experience in business sale transactions across a broad range of industries to advise our clients on issues ranging from due diligence and identifying what intellectual property is owned by a business to structuring partnerships and joint ventures.
Plain and simple, we know exactly what questions to ask to ensure your best interests are kept front-of-mind. When you sell a business, the lease or freehold will need to be transferred. What is the restraint of trade to be? Have you considered the tax consequences of the sale? If employees are staying on, this need to be dealt with carefully to ensure you are not left with a huge pay out liability.
We will produce immaculate contract documentation for you, which will secure your position as a confident and successful business seller in the eyes of your potential buyer.
In our best advice, be prudent, organised and properly advised – it will keep you in the the driver’s seat – in control of the deal.
Whether it’s the sale of a division of a large company or the sale of a small Australian family business, the needs are the same – focused lawyers who understand the issues and who are attentive to your needs.
Call us now on 1300 907 335 or fill out the contact form on this page for a confidential discussion about your proposed business sale.
Liquor Licensing
We can advise you in relation to the different types of liquor licences that are available. We can also assist in preparing the liquor licence application, transfer a liquor licence from one business to another and deal with disputes relating to liquor licences, including regulatory matters.