Even for the commercially savvy, buying and selling a business can be a risky affair. Proceeding cautiously is the way to go – and seeking professional legal advice means that you can protect yourself from any risks.
Our lawyers have the experience and skills to guide you through the process involved in the purchase and sale of a business, from preparing and reviewing contracts of sale to the date of settlement.
Just some of the issues you need to be aware of:
Buying a business – buyer aware!
- Is the business making a profit?
- Has the seller provided you with all the documents required by law before signing a contract?
- Is the business premises owned or leased? If leased, is the landlord prepared to transfer the lease?
- What will happen with the staff? Will their employment end or will it be transferred to the new owner?
- Can you obtain all the necessary licences, permits and the like needed to operate the business?
- What is there to prevent a vendor competing with you after a sale?
- What business structure would work best for you to run the business?
Selling a business – get the most out of your sale!
- We can prepare the contract of sale and lease disclosure statement
- Are you selling the intellectual property, equipment and stock with the business?
- Do you want to give the purchaser a trial or assisted period?
- What is to happen to your employees?
Contact us to make an appointment for a free half hour consultation with one of our experienced lawyers.
Please note, the above contains very general information on the subject matter and should not be regarded as legal advice. Legal advice should always be sought as to your specific circumstances.
