Buying or Selling a Business Overview

Are you considering buying or selling a business? This crucial decision requires careful planning, meticulous analysis, and expert legal guidance. We understand the complexities of such transactions and offer comprehensive legal services tailored to your needs. With our experienced team of business lawyers, we ensure a smooth process, protecting your interests every step of the way.

What purchase or sale of business services do we offer?

We offer a comprehensive range of legal services related to buying or selling a business. Our expertise includes, but is not limited to:

Business Structuring: We assist in determining the most suitable business structure for your needs, whether it’s a sole proprietorship, partnership, company, or trust. Our lawyers provide tailored advice on the advantages and disadvantages of each structure to help you make an informed decision. This may include business name registration and company registration with the Australian Securities and Investments Commission. For more information regarding Business Structuring.

Due Diligence: Our legal team conducts a thorough review of the business to assess its financial viability, legal compliance, contractual obligations, intellectual property rights, and any potential liabilities. We provide a comprehensive due diligence report, empowering you to make informed decisions.

Contract Negotiation and Review: We review and negotiate business sale agreements, purchase contracts, shareholder agreements, and other relevant legal documents. Our lawyers ensure the terms are fair and reasonable and adequately protect your interests.

Settlement: If required as apart of settlement we will organise:

Payment of purchase price
Transfer of any intellectual property and business names
Preparation of transfer of lease or negotiation of a new lease
Transferring of employee(s)
Transferring any third party contracts
Picking up keys.

Why do you need a lawyer to advise in the purchase or sale of business?

Buying or selling a business is a significant undertaking that involves various legal intricacies. Navigating through contracts, due diligence, negotiations, and regulatory compliance can be overwhelming without the right lawyer. There are many reasons why you need a lawyer to represent you in the sale or purchase of a business. Our team will ensure:

Comprehensive due diligence: Performing due diligence is crucial when buying or selling a business. We meticulously analyse the business’s financial, operational, and legal aspects, ensuring that you make informed decisions based on reliable information.

Negotiation and contact drafting: Negotiating the terms of a business transaction is vital to protect your interests. We have extensive experience negotiating favourable deals and drafting legally binding contracts safeguarding your rights, obligations, and financial interests.

Regulatory compliance: Navigating the regulatory framework surrounding business transactions can be challenging. We ensure that all necessary licenses, permits, and compliance requirements are met, preventing legal complications and potential liabilities.

Contact us today to schedule a consultation and take the first step towards a smooth purchase or sale of business.

FAQs

How long does business settlement take?

The length of the settlement depends on the nature of the transaction. The contract will generally stipulate a definitive settlement date. Prior to this date, the vendor or purchaser will need to undertake all the due diligence that is required to proceed with settlement. Settlement is often as short as seven days or as long as six months depending on complexities.

What gets transferred with the purchase or sale of business?

Typically when engaging in a business sale transaction, the purchaser acquires various assets of the business such as inventory, machinery and any intangible assets. Intangible assets commonly include the business name, intellectual property and any client lists.

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