Buying or selling a business is a commercial transaction. A business is not bought or
sold until a Business Sale Contract has been signed. It is essential that a
comprehensive, clear, and thorough contract be drafted. The clear drafting of the
buyer’s and seller’s terms and conditions in a business sale contract will ensure a
smooth transaction and minimise the risk of expensive litigation if a dispute arises
later.
Sale or purchase of business can be a risky and expensive transaction if not
conducted properly. It is important that buyers be aware of all aspects of the deal so
that the buyer can receive the business as agreed during negotiations and prevent
later disappointment.
Whether you are buying or selling, our team of business lawyers will ensure that all
aspects of the transaction are properly addressed so you can get on with your
business, retirement or your next venture sooner.
How We Help
We would be happy to assist you if your business is located in Victoria.
Buying a Business
When acting for buyers, our focus is to ensure that you get what you are paying for
as well as identify and minimise hazards associated with the purchase business and
future operation of the business.
This is usually accomplished through:
Drafting and reviewing the sale of business contract
The inclusion of special conditions in the contract for critical matters
Variation or novation of existing contract if required
Due diligence and the negotiation of terms with the vendor.
Selling a Business
When acting for sellers, our focus is to:
- Identify and manage issues that will likely be raised by the buyer during due
diligence which may lead to price discount negotiations or similar issues - Ensure a non-disclosure agreement is in place before any confidential
information is released - Ensure a clear and comprehensive Business Sale Contract is available for
signing at the earliest possible stage.
When Should You Seek Legal Advice?
In most cases it is best that you speak to one of our business lawyers about the
anticipated sale or purchase of business before or during the negotiations with the
other party.
We will help you identify matters that you may not have noticed and raise these
during the initial negotiations. This will save time and avoid difficulties that may arise
at a later stage.