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Buying or Selling a Business

Whether you are buying or selling a business there is a myriad of legal issues involved.

Buying a Business

When investing your money into the purchase of a business, it is essential that you specifically identify what it is you are purchasing.

As a business is an asset that often has significant ongoing expenses and liabilities tied to it, it is also important that you identify what legal obligations are being taken on with the purchase of the business.

Further, as a business often includes intangible or non-physical assets, it is equally important to identify exactly what it is that you are purchasing.

When buying a business you will need to consider things such as:

  • The terms of the purchase;
  • Which structure to use when purchasing the business;
  • Business licensing and registration;
  • Leasing and franchising;
  • Taxation risks and implications;
  • Industrial relations issues;
  • The purchase of stock and work in progress;
  • Restraint of trade.

Selling a Business

When selling a business it is important that you not only assign the business and its assets but also any future liability associated with the business.

It is also crucial that you identify and minimise any risks associated with the transaction and understand the taxation implications associated with a sale.

When selling a business you will need to consider things such as:

  • The terms of the sale;
  • Transfer requirements;
  • Taxation risks and implications;
  • Assignment of plant, equipment and intellectual property;
  • Discharging encumbrances on business assets;
  • The sale of stock and work in progress;
  • Restraint of trade.

How We Can Help

With our streamlined procedures, knowledge and expertise we can help:

  • Identify, manage and minimise risks on a purchase or sale;
  • Assist you in your decision making process by advising of legal pitfalls, issues, rights and obligations;
  • By taking a ‘hands on’ approach as to management of the transaction.

For further information please contact: