There are many things to consider when buying or selling a business and many potential pitfalls if good legal advice has not been provided.
If you are considering buying into a new business opportunity, looking to expand your current business or looking to wind back and sell, we recommend that you get in touch with our commercial law experts. We can help to maximise your opportunities and minimise any potential problems that might occur.
Engage a solicitor early in the process
There are many legal issues that come with buying or selling a business. One of the most important safeguards you can take is to get legal advice as early as possible in the process, before making or accepting any offers on a business. Once you are locked into an agreement or contract you will find it very difficult to negotiate.
Selling a business
Kenny Spring's commercial lawyers can help you with:
- Reviewing lease and contract documents
- Advising on conditions of sale and negotiating the contract
- Discussing apportionment of price with your accountant
- Tax effective strategies for the sale
- Retention or sale of any registered trademarks
- Reviewing employee issues and entitlements.
Buying a business
Kenny Spring Solicitors can provide legal advice on a number of key areas before you buy a business. We can help you with:
- Due diligence around sales, costs, profits and assets of the business
- Appropriate business structure, and if it's a limited company are you buying the shares or the assets?
- Proposed conditions of purchase
- Ownership and leases of any commercial property involved in the sale
- GST and stamp duty
- Town planning laws and workplace health and safety regulations
- Any licences that you and your staff might need.
Our commercial lawyers have worked extensively with clients from a wide range of businesses, with different structures and sizes. We can tailor contracts and negotiations to meet clients' expectations while always ensuring the best possible outcome for everyone involved.
For further legal advice on buying and selling a business please contact one of Kenny Spring's commercial law experts on 1800 650 656.