Our experienced business lawyers can help you with all business matters.
Buying or Selling a Business
The sale of a business is complex. Legislation requires that various formal steps have to be taken. It is important to get professional help to ensure that your business sale or purchase is done legally and properly.
Questions that often arise in the course of a business sale include: What is the purchaser actually buying? How will the handover of the business take place? Will the vendor be able to set up a competing business? What if a third party landlord owns the business premises? What about stamp duty? Are any permits or licences required to run the business?
Structuring your business sale or purchase properly may have significant benefits, including taxation benefits. Getting things wrong can have serious consequences. Often people seek help too late. Spending a little on expert advice and assistance may save you a great deal more in the long run.
Our lawyers are able to guide you through the process of selling or buying a business.
Selecting the Right Business Model
You can run your business in a variety of different ways. It is important to select the right model. A properly designed business structure can minimise your personal risk and have a variety of other benefits, including taxation benefits.
The main options available to you are for operating your business are—
- as a sole trader in your own name;
- through a company;
- through a trust; or
- in a partnership with others.
In many cases, some combination of these options will be required.
Our lawyers can help you select the model that best suits your needs.
Having professional help from the beginning can make all the difference. But it’s never too late to get things right.
Does your business need premises?
If you plan to lease business premises, it is important that you enter into a lease that provides you with adequate protection and gives you the freedom to build your business in the way you want. Can your landlord easily evict you? Can the rent be changed? What happens when your lease expires?
Our lawyers and conveyancers can help you with all aspects of buying or leasing business premises.
It is important that you select the right staffing model. Are your staff members going to be employees or independent contractors? If they are employees, should they be permanent or casual? Selecting the right staffing model can minimise your staffing costs and provide you with the flexibility you need to run your business efficiently and profitably.
It is also important that you comply with both state and federal employment law and with any industrial awards or agreements that apply to your staff. For example, how much are you obliged to pay your staff? What other standards are you required to comply with? Our lawyers can assist you with these compliance issues.
Do you need to dismiss staff or make redundancies? The consequences of getting it wrong can be serious and can include claims for damages and harm to your business reputation. Our lawyers can help you deal with these often difficult and stressful matters.
How do you enter into contracts with customers, suppliers, and others? Are the documents you have in place adequate to protect your interests? Are you entering into a complex commercial agreement that could cause your business serious damage if it goes wrong?
Our lawyers can draft everything from detailed commercial agreements to simple standard-form contacts that you can use time and time again. To find out more about our document drafting services, click here.
Things occasionally go wrong in business. Our lawyers can help you achieve common-sense and cost-effective solutions to any dispute. They are committed to the mediation of disputes and treat litigation as a last resort.
Our lawyers are also available to help you with a wide range of other business matters, including—
- the formation and management of companies, trusts and partnerships;
- buying and selling shares;
- the payment of dividends;
- arranging business finance;
- business audits and reviews;
- investigations by government bodies;
- the winding up of companies;
- insolvency; and
- voluntary administration.
To find out how we can help you run your business successfully contact us.