Buying & Selling Business
Business & Commercial Law
Making buying and selling businesses stress-free
Buying and selling businesses – be it for personal or commercial reasons – can be stressful. It is important to have an expert on your side to make the process as simple as possible and ensure your best interests are protected.
Unlike buying or selling a property, when selling a business there is nothing necessarily in place that regulates the process. As a result of this, failing to obtain the right advice can be a risky venture.
Whether you are a buyer or seller, there are several important legal issues to consider. Our experienced commercial lawyers can guide you through the process to ensure you are adequately informed and protected against any adverse outcomes.
When buying a business, you want to make sure you receive everything to properly operate the business and that all business assets are unencumbered.
It is also advisable to receive comprehensive warranties and indemnities from the seller and have restrictions on the seller preventing them from starting, or being part of, a competing business after the sale.
If you are selling a business, it is important to have a binding contract in place, that the sale is structured to your best tax advantage and you have no ongoing liabilities.
At Attwood Marshall Lawyers, we are driven to assist business owners or prospective business owners achieve stress-free purchases. We have acted for buyers and sellers in businesses of all sizes across a a diverse range of fields.
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FAQs
The best time to sell is when a business is in a growth phase but before the business has peaked. The prospect of further growth offers a compelling incentive to buyers. The wrong time to sell is when things are not going so well.
There are additional fees payable in the buying of a business such as stamp duty, obtaining of licenses, transfer of licenses, a new lease or a transfer of the existing lease.
In our experience, using the help of a professional business valuer is the best option. A professional business valuer can take the stress away from your own evaluation and put a buyer’s mind at rest that this is an objective impartial valuation.
Advertising is the right strategy to increase the likelihood of attracting the right type of buyer. Engaging with a business agent is the traditional way for selling a business, however online marketplaces are the more modern approach. It’s a great way to quickly get your business in front of a lot of prospective buyers.
