Buying and Selling a BusinessEmma Hassan2016-09-11T04:42:36+00:00
The WMD LAW Property Group is confident in identifying the critical areas for agreement between parties and preparing and negotiating the contract and other documents.
Whether advising on the sale or purchase of a business the WMD LAW Property Group focuses on the commercial reality of the transaction and offers a complete service to our clients including the review of GST and other taxation implications of all transactions. By utilising the knowledge and expertise of the Property Group and the Employment Law Division, our team of lawyers are able to ensure that all aspects of the sale or purchase are reviewed including site acquisition, leasing requirements and any employment issues arising from the sale or purchase, such as the continuation of employee entitlements and the review of employment contracts and conditions.
When dealing with the sale or purchase of any business, it is important to receive both commercial and practical legal advice. By drawing upon our experience and knowledge in this area, we are able to offer these services to you in an efficient and effective manner.
Employment and Commercial Issues
The Contract for the sale of a business not only recognises the assets, stock, equipment or goodwill of a business it also identifies the employees of the business. There are a number of employment issues which may arise from the sale or purchase of a business, such as the payment or continuation of employee entitlements and the review of employment contracts and conditions.
By utilising the knowledge and expertise of the WMD Law Property Group and the Employment Law Division, our team of lawyers are able to ensure that all aspects of the sale or purchase are reviewed and that our client is receiving the most comprehensive legal advice available.
Assignment of Leases
The sale or purchase of a business often involves more than just putting a price on the equipment and goodwill of the business. The WMD Law Property Group ensures that all aspects of the sale or purchase are reviewed including the lease arrangements for the premises that the business operates from, the transfer of the naming rights for the business or any intellectual property and also any trading restraints on the seller of the business.
An assignment of lease involves transferring the rights and obligations of the current tenant to a new tenant. In cases where the current tenant is selling the business that operates from the premises to the new tenant the lease often provides that the landlord of the premises must be satisfied as to the experience and credentials of the new tenant / business owner before agreeing to the assignment. The sale of the business will not be allowed to take place until the landlord has agreed to lease the premises to the purchaser of the business.
It is often the case that business purchases are funded from finance facilities which are not secured over the business itself or, in some cases, are provided by the vendor of the business. The WMD Law Property Group has vast experience in dealing with all aspects of the financing for a business purchase and the discharge of any of the vendor’s financing facilities to ensure a clear transfer of title of the business assets.