The sale of a business, large or small, must be properly documented to ensure that you exit well. A business sale solicitor addresses the technical issues that will assist in protecting your legal interests. Whether you have franchises for sale, a local business, or a larger multi-site operation, it is imperative that you have lawyers who not only understand the law but have the ability to think commercially.
There are different types of processes for different types of sales and different types of businesses.
This sale document utilised here is generally a Contract of Sale of Business.
Selling a smaller business, such as a small café or mechanic shop will require a fairly straight forward sale of business contract. There may be some employees that will transition to the new owner’s business, which can be costly to the seller if not thought through well. If there is a lease, you have significant responsibilities as the transferor (assignor) of the lease. If your lender holds secured interest over the business, this will also need to be attended to. These are some of the issues involved in the sale of a smaller business. We regularly act for clients in small business sales and we are well across the issues.
We understand the complexities involved and can make the sale easier and ensure that the terms of contract are clear and you are adequately protected.
A more sophisticated approach is required for a larger business. There will likely be complex leasing arrangements, complex tax considerations or large scale employee transfers.
We have experience in multi-site sales and we have the depth of legal talent to take hold of the process for you and make sure that, as the seller, your house is in order when it comes to dealing with your purchaser.
We will simplify the process well drafted documentation will diminish the risk of a dispute with the purchases.
We know what questions to ask you to ensure that the sale contract is not only watertight, but considers all of the issues. Selling a business is much more than ticking a few boxes and filing a few forms. The consequences of not getting it right can be disastrous and lead to unnecessary disputes or financial loss.
We add value to you through our experience and negotiation skills. All of our business sale lawyers have several years experience. This makes communication easier between lawyer and you more fluid and means that we are looking for commercial considerations relevant to your transaction and specific to your industry. We are also seasoned negotiators
You can be sure that our business sale solicitors have skills across multiple legal areas. Experience is required in contract law, property law and employment law – at a minimum. Beyond the transfer of the lease or freehold, such matters of restraint of trade often require careful consideration. If employees are staying on, you’ll need to deal with them carefully to ensure you are not left with a huge pay out liability as a seller.
We produce immaculate contract documentation which only adds to making you and your business look good in the eyes of your potential buyer.
Call us now on 1300 907 335 or fill out the contact form on this page for a confidential discussion with one of our business sale lawyers to help you finalise your transaction successfully.