Buying or Selling
a Business

Buying or selling a business is a big decision to make. You will need professional advice, and our lawyers understand the complexities of corporate and commercial law, as well as the risks applicable to you.

Buying or selling a business can be stressful and overwhelming. There are many legal documents to draw up, conditions to verify, and research to be done to clarify what is the best option for you. Our skilled and experienced lawyers can prepare business sale contracts, and negotiate terms to ensure your interests are protected. Whether you are buying or selling a business, we will ensure that you are kept updated and fully informed throughout the process. When selling your business, you must be clear with potential purchasers about what is on offer. You will need to specify what you require from them, in order to determine their genuine intentions. Once you have negotiated commercial terms with the purchaser, our lawyers will draft the business sale agreement, incorporating these conditions. We will ensure that the agreed sale price is received and that you are released from all obligations.

If you are buying an existing business, you will need to conduct a thorough due diligence. This will involve having the finances and existing legal contracts reviewed, and determining why the business is being sold. The sale will include the goodwill of the business, including customer database, suppliers, contractors and products. The goodwill is an important aspect to be transferred, just as any of the tangible assets are. Our lawyers will ascertain whether the commercial terms agreed to are contained in your business sale agreement. To protect your interests, we will also negotiate terms which will cover you should the business fail to generate the revenue and profits indicated to you prior to purchase. We will establish a training or handover period in the agreement, to give you the opportunity to familiarise yourself with running the business.

Franchise news and updates

Contract
Franchise 101Franchise ConsultingFranchise Legal Advice
August 8, 2016

Changes in Unfair Contract Terms

The legislation around unfair contract terms for consumers has been extended to include standard form contracts for small businesses. The ACCC is focused on protecting small businesses from unfair contract terms. Particularly in relation to…
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Franchise Law Done Right
Franchise 101Franchise ConsultingFranchise Legal Advice
July 18, 2016

What’s the point in mediation? Lessons on handling franchise disputes

For both franchisors and franchisees, mediation is a slightly mysterious process. How franchise disputes usually occur is that one party issues a Notice of Dispute to the other -  then several months later you end…
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