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Legal > Business & Commercial Law

Buying a business:

Overview FAQs Articles Locations

Our Business Lawyers and Commercial Solicitors are experienced in acting in the purchase of businesses of varying size and complexity and across a diverse range of industries. The varied experience of our Business Conveyancing Solicitors places us in a unique opportunity to understand the different factors that need to be considered in any purchase transaction. Our Lawyers work closely with associated Chartered Accountants and Accountants, giving our clients the benefit of a multi-disciplinary and holistic service.

Issues that need to be considered when Buying

Purchasing a business is difficult. There are a broad range of commercial and legal risks that need to be thoroughly considered. Some of those risks are obvious. However, there are many facets of a commercial purchase that are only clear to experienced Business Lawyers. Therein lies the value and significance of obtaining the services of a Business Conveyancing Lawyer.

There are a number of pre-exchange inquiries that we would normally recommend to our clients. Obviously these are unique to each business. Generally however, purchasers should consider conducting a financial investigation and inspection of the business books and records, completing a search on the business name and intellectual property owned by the business and conducting a valuation of the equipment, stock and plant equipment. The failure to carry out adequate research and pre-exchange enquiries can be one of the biggest mistakes a business purchaser makes.

Other issues that may need to be addressed include:-

  • Whether a new lease should be prepared or whether a pre-existing lease should be transferred
  • Adjustments of employee expenses and entitlements
  • The secure transfer of intellectual property and trade marks
  • The value of goodwill
  • Stamp duty

If you are looking to purchase a business, you should ensure that you have consulted an experienced Business Conveyancing Lawyer. Our Business Conveyancing Lawyers can guide you through the process and help you identify the traps and pitfalls so that you do not start off on the wrong foot. With a wealth of knowledge and experience, we can help you make the right business decision.

Other than the conveyancing aspect of a commercial transaction, you will also need to consider the tax implications which flow from purchasing and operating a business. Income tax, capital gains tax (CGT) and goods and services tax (GST) are just some of the things you will need to think about. Our team of Tax Lawyers can assist you get your tax affairs in order and help you develop strategies to achieve your business objectives in the most tax effective method.

If you require legal advice or representation in the Purchase of a Business, you should go to the "Business Conveyancing & Leasing" section of this website (located under the Conveyancing Practice Area), where we have outlined the legal services we offer and the associates costs for such services. We have branch offices conveniently positioned across the Sydney metropolitan area. For a full list of our office locations, with complete addresses, click on our Locations tab above or contact our main office line on (02) 9233 4048.

 

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This webpage (and any material or wording appearing on this webpage) is provided for general information purposes only and does not constitute any Legal Advice. It does not take into account your objectives, your instructions or all of the relevant facts and/or circumstances. Navado accepts no responsibility to any person who relies on the information provided on this website. We further refer you to our Disclaimer.

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