Selling A Business

Preparing your business for a sale is an essential part of the business sale process. Our commercial lawyers have helped many people sell their business and are experienced in all aspects of business sales. We have helped many clients in buying or selling a business and understand both perspectives clearly.

Business sales can be complex or more simple depending on the size or type of your business. Our business sale lawyers will help you throughout the sale process with advice, negotiations and settlement.

Our experience in the application and legal knowledge of the commercial law that covers business sale and purchase transactions is extensive.

We can assist in preparing and negotiating terms and conditions for:

• Non-Disclosure Agreements
• Heads of Agreements
• Business Sale Contracts
• Transfer/Assignments of Lease
• Property Sale contracts
• Assignments or Transfers of Leases, Licences and Permits

Having business sale agreements and documents professionally prepared will help smooth the way to negotiating the best outcome and sale price for you. Our business lawyers can assist at any stage of the business sale to make sure that you are protected. This is of great importance as you may be selling to a known or potential competitor.

Having the right documents drafted from a skilled lawyer will ensure that your investment is protected and you have recourse if they attempt to profit from your business ideas and processes.

No doubt as a business owner you will be busy preparing financial data, customer lists and trying to calculate goodwill. Our legal team will be helping you to ensure that all the other essential business assets, licences and agreements are considered to allow a smooth transition between the owners.

We ensure that matters are considered carefully and that you are advised such matters as:

Contract & Agreements

All of our contract documentation is prepared with precision and that terms and conditions are there to reflect the agreement you have reached. Proper legal drafting will assist in reducing disputes further in the relationship. While you might be mostly interested in the purchase price, we will ensure that careful consideration is given to all the terms, so as to protect your interests as you exit the business

Business Structure

How you have set up your corporate structure will affect how the business sale is transacted to some degree. A business purchaser may be acquiring the company and the shares or setting up a new entity. The transfer of the busines name and registration will also have to be considered.

Intellectual Property

A business owner should give consideration to the intellectual property and any registrations that they have and ensure that these are in place or are transferred at sale. Intellectual Property can increase the value of your business greatly as these are often make up the brand and its identity. This will include patents and business processes and any recipes.

Premises

The business premises are often a large consideration in any business sale and the premises may be included as part of the sale. In either case ensuring that you exit the business and have any liabilities extinguished as far as possible, such as transfers of lease etc.

Equipment & Assets

Making sure that what is included in the sale is properly documented is crucial particularly if you are not including all equipment or business assets in the sale.

Supply & Distribution Agreements

Having all the business documentation properly transferred so that the new business owner can continue to trade and enjoy the same benefits or rights under the existing agreements will add value to business. It is important that you have the right advice and lawyer to help you in these negotiations to retain the value of your business relationships.

Business licences and Permits

It is important that any assignment, transfer or new permits are granted so that the new owners can continue to trade.

Debtors

Debtors and creditors will need to be considered and how you wish to deal with outstanding Work in Progress or orders will also need to be properly reflected in the Contract of Sale.

Employees

Ensuring that transfer of employees is done correctly is vitally important. Employee entitlements and how whether employees will continue with the organisation is key to avoiding costly mistakes and having to pay out entitlements unnecessarily.

It is important to avoid potential false and misleading claims that you have the right advice from organised and professional legal team. Good preparation will lead you to your desired outcome faster.

Our legal team are experienced in handling more than just the business sales we also assist with disputes and litigation and can help resolve any issues that arise.