Commercial Law

Sale & Purchase of business

dealWhether you are a Vendor or Purchaser, there are many things to consider when transferring a business and obtaining sound commercial advice at the outset is crucial to avoiding many of the most common pitfalls. Whether you have previous experience as a business owner or want to start a new business, there are many aspects to consider when buying or selling a business.

Price and settlement date are not the only critical elements of negotiating the sale or purchase of a business. Also of critical importance are the terms of the lease, the handover period, an analysis (by your accountant) of the profitability and cash flow, restricting the trade of the person selling, council regulations which dictate the type of business you can operate at the premises and much more.

Even more so than the sale or purchase of a property, the variables in buying or selling a business are extensive. If you choose the wrong representation you could lose a sale, end up without a lease (or your bond back) on the day of settlement, or fail to meet council (or liquor licensing) requirements. Even worse you could discover that the inclusions specified in your contract are all leased and are repossessed after you start trading.

We will assist in the preparation and the execution of the contract, then arrange and/ or negotiate the transfer of the lease, guide you through the process of obtaining council permits and other approvals, as well as transferring domain names, business names and all other documents. We will attend settlement on your behalf and ensure all change of ownership documents are lodged immediately after settlement.

Getting sound legal advice before entering into a contract to sell or purchase a business will ensure you are aware of all your rights and obligations. Call our office on 03 9571 5157 or contact us online if you would like to discuss the matter with us.

What is a franchise?

What is a franchise?

Daniel_Le-Mercier-franchiseA franchise business is a business in which the owners, called the Franchisor, sell the rights to their business logo and business model to third parties, called the Franchisee.

To invest in a franchise, the Franchisee must obtain sound legal advice before signing a contract.

Commercial & Retail leases

Commercial & Retail leases

Whether entering into a commercial or retail lease, it is important that all terms of the lease document accurately reflects the parties’ intentions.

We can assist you in all areas of leasing including:

negotiation of lease terms review and preparation of commercial, retail and residential leases renewal of leases upon the exercise of option periods alterations to the lease including transfer, variation and surrender of the lease, lease disputes witnessing mortgage and guarantee documents and provision of solicitor’s certificates.

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