When it comes to selling and buying management rights, there is a lot to consider. There can be issues with negotiations, financial figures, valuations and finance, fees, not to mention difficulty with dealing with the body corporate committee.

We can help you negotiate the terms of the sale with the body corporate committee, as well as ensure all the documents required are completed correctly so that the deal can proceed promptly without risk of delays. It is important to get the right legal advice if you are selling management rights in Melbourne, to ensure all aspects of the transaction are managed correctly and that you have set yourself up for a successful outcome.

Partnership Agreements (or Shareholder or Unitholder Agreements) are recommended if there are two or more parties involved in a business partnership together.

A Partnership Agreement should stipulate:

• The name of all partners
• The contributions and percentage of ownership of all partners
• Allocations of profits and losses
• The business structure and decision-making powers of all partners
• The day-to-day operations of the business
• Dispute resolution strategies
• Exit strategies if one party chooses to exist the business at any time or on death
• Processes for admitting new partners
• Any other relevant details agreed upon by all partners.

Partnership Agreements can be tailor-made to suit the specific needs of your business and its partners. These documents can provide security and peace of mind and can help give clarity and transparency to everyone involved about their obligations and responsibilities to the business. 

Our Melbourne lawyers can help you with all business and commercial transactions. It is important to be aware of relevant legislative and Council requirements that may apply to your transaction, as well as any fees or costs that you may incur. We are dedicated to delivering practical and timely legal advice to help your transactions proceed seamlessly.

Structuring your business correctly is crucial. You may choose to set up your business as a trust, partnership, or sole trader. There are advantages and disadvantages you need to consider for each type of business structure, and it is important to understand that different entities are bound by different tax obligations and asset protection rules. Our business and commercial lawyers can provide you with advice on the best business structure to suit your needs to ensure you set your business up for future success and comply with all relevant legislation.