Buying & Selling a Business
Unlike buying and selling a property, there is no centralised register of title for businesses to help regulate the process of buying and selling a business. Without the right advice and assistance, buying and selling a business can be, by its very nature, a risky business.
When purchasing a business you want to ensure that the Vendor transfers to you everything you need to properly operate the business, and that the business is unencumbered. You also need comprehensive warranties and indemnities from the vendor and protection that the vendor will not go into competition with you after you have commenced operating the business.
If you are selling your business, you want to ensure that your Purchaser has entered into a binding contract with you, that the sale is structured to your best ]advantage, and that when the sale is completed you are released from ongoing liability regarding the future operation of the business.
We have acted for many business proprietors when buying and selling business of all sizes. Our experience and systematical approach in these transactions ensures that all facets of the transaction are attended to expediently and in a cost effective manner.
At Lex Fori Lawyers we can assist you with:
- Due Diligence Investigations of Business
- Sale and Purchase Contract preparation and negotiation
- Licenses needed to run your business
- Business Names
- Leasing of the business premises
- Choosing the correct business structure
- Restraints to protect businesses