The decision to sell a business is one which holds consequences and often involves a myriad of legal and commercial issues. When selling a business, it is imperative that professional legal and financial advice is considered to accurately evaluate all aspects of the sale especially tax implications or succession planning through to retirement. The Legal Elements has the knowledge and experience necessary to ensure that the sale of your business is as stress-free as possible. Preparing your business for sale is often overlooked.
Buying a business is often underestimated. Depending on the venture and the people involved, not being able view the whole picture first before dissecting the puzzle or alternatively putting the pieces together to see the puzzle can be critical to understand how the business will fit you. The considerations are vast and influenced by circumstance.
Our Solicitors can offer assistance to you when you’re selling or buying a business in the following ways:
- Legal procedures involved in transferring ownership of rights and assets.
- Exactly what is to bought and sold in the transaction
- Settlement of any mortgages, charges or encumbrances over any stock or assets included in the business
- Advise you on your legal rights and obligations after the sale, for example the right to approach the business’s clients or compete with the new owner and restraint of trade issues
- Advise you on how to structure the sale and payments
- Provisions that should be included in the contract of sale or purchase to protect your financial interests
- Assessment of valuing the business, its goodwill and assets
- Identify employee issues and your potential liabilities under employment agreements.
- Ensure that all contractual obligations can be assigned to the purchaser
- Freehold, Leasehold or Assignment
- GST and or Going Concerns
Please Give Us A Call To Discuss Your Requirements
07 3844 2200