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 * Home
 * About
 * Services
   * Business Structure
   * Buying/Selling Business
   * Commercial Retail Leases
   * IT Contracts
   * Resolving Commercial Disputes
   * Shareholders/Unitholders Agreements and Buy/Sell Agreements
   * Standards Terms and Conditions
   * Tradies Contracts
 * Rescources
 * Contact

Menu
 * Home
 * About
 * Services
   * Business Structure
   * Buying/Selling Business
   * Commercial Retail Leases
   * IT Contracts
   * Resolving Commercial Disputes
   * Shareholders/Unitholders Agreements and Buy/Sell Agreements
   * Standards Terms and Conditions
   * Tradies Contracts
 * Rescources
 * Contact

Call Us Now
 * Home
 * About
 * Services
   * Business Structure
   * Buying/Selling Business
   * Commercial Retail Leases
   * IT Contracts
   * Resolving Commercial Disputes
   * Shareholders/Unitholders Agreements and Buy/Sell Agreements
   * Standards Terms and Conditions
   * Tradies Contracts
 * Rescources
 * Contact

Menu
 * Home
 * About
 * Services
   * Business Structure
   * Buying/Selling Business
   * Commercial Retail Leases
   * IT Contracts
   * Resolving Commercial Disputes
   * Shareholders/Unitholders Agreements and Buy/Sell Agreements
   * Standards Terms and Conditions
   * Tradies Contracts
 * Rescources
 * Contact

Call Us Now
Call Us Now



BUYING/SELLING BUSINESS


SELLING OR BUYING A BUSINESS

If key contracts with customers are an important part of buying a business then
each contract must be checked to see what its terms are, how long it runs for
and that the customer can’t terminate for no reason.


If you are selling a business then it’s important to get paid the price you’ve
agreed on. Often this will be dependent on the purchaser working in the business
for a while to check the turnover but you need to make sure the purchaser
operates the business correctly. Otherwise, the figures could be false.



If you are taking over a lease of premises, then you need to check the terms of
the lease, make sure you will actually get the period you’ve been promised,
obtain the Landlord’s consent, make sure there are no current defaults and, if
it’s a retail premises, get a disclosure statement from the seller.

If you’re purchasing plant and equipment you need see the depreciation schedule.
If the business has any customer orders that are unfulfilled check if you’re
taking on the responsibility of fulfilling those orders. If so on what terms? If
you’re purchasing software or other intellectual property you need to know if it
has been protected by copyright. You may want to purchase the trade marks of the
business in which case the Seller must relinquish all rights in the trade marks
to you.

These are just a few of the issues that arise when buying or selling a business.
And there will likely be many more issues, depending on the particular business.
All must be checked thoroughly. If you are looking to buy or sell a business we
would love to help you, so just give us a call and we’ll be happy to set you on
the right path.


WHY TOPNOTCH LEGAL

 * Buying or selling a business is a complex transaction and there are many
   issues to be considered. We will bring all issues to your attention and make
   sure they are handled to your advantage.


GOT QUESTIONS?



Please feel free to reach out to our team at Topnotch Legal and we will provide
you with the best solution.

Call Us Now

Tel: 03 8849 9875

Email: glendad@topnotchlegal.com.au

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