Business Law & Transactions
CK Lawyers can assist with legal matters related to buying and selling a business.
The Sale Contract is the legally binding document which, once signed, compels the parties and usually specifies:
- The assets that are sold
- The price
- The terms of payment
- The effective and critical settlement date
- The various conditions of sale
- The lease
- The business name
Of critical importance, a contract usually specifies the representations, warranties, covenants and indemnities that will define where and how risk lies in the deal between the buyer and the seller. It is the nature and wording of these areas that much effort will be exerted by your solicitor.
There are literally hundreds of issues to be considered when buying or selling a business, so it is best to have it dealt with by someone who has substantial experience. CK Lawyers offers you that experience.
“ KNOWLEDGE OF WHAT IS POSSIBLE IS THE BEGINNING OF HAPPINESS ”
Buying a business
If you’re buying a business, there are key facets of the business you need to know about.
Things to consider:
- Does the business require certain licenses, permits or rights?
- How much funds do you need and are your finances in place?
- Buyer Entity – Before signing any form of contract relating to your purchase of the business, it is important to determine the correct buying entity:
- Family trust using a company as its corporate trustee
- Unit trusts, or a company
- Equity Owner and Management Agreement
- Sole trader
Usually the offer is presented by the buyer to the seller or the seller’s agent and, like a property transaction, must include items including:
- Special Conditions or Conditions Precedent
- Finance Approval
- Third Party Approvals
- Settlement Dates
Performing the Purchase Agreement is another process that must include details such as:
- Financial Information
- Plant and Equipment
- Intellectual Property
- Employees / Key Persons
- Adjustment of Purchase Price
- Retention or “clawback” Clauses
CK Lawyers’ experience with large and small business transactions ensures that your purchase or sale proceeds uninterrupted. Our qualified commercial and business lawyers can assist you with these matters, giving you appropriate insight into your purchase and delivering a straight-forward process.
Your first consultation is free
If you’d like to see what CK Lawyers can do for you, please give us a call on. We’ll evaluate your individual legal needs and give you honest advice.
CK Lawyers have years of experience in all legal matters including Will and Estate law, Family law, property conveyance, commercial law, and traffic law. We also specialise in dispute resolution and court advocacy.