Business Sale or Purchase
As experienced small business lawyers, if you’re buying or selling a business, we can take you through all the steps of the Business Purchase Agreement or Contract for Sale of Business or Share Sale Agreement until completion and the buyer taking over the business. We aim to streamline the business sale process as much as possible. Whether you’re a seller or buyer of an established business or a franchise in NSW, we can provide you with value-for-money legal services helping you finalise the sale of business contract process quickly and efficiently.
OUR SERVICES TO ASSIST THE VENDOR WITH A SALE OF BUSINESS CONTRACT INCLUDE:
- Legal advice on all aspects of selling a business, including transfer of existing retail tenancy leases and transfer of employees as part of the sale of business agreement;
- Preparing, negotiating and finalising the Contract for Sale of Business or Business Purchase Agreement;
- Drafting Vendor Finance clauses for inclusion in the ECOS Contract for Sale of Business NSW where a purchaser is buying a business with no money upfront or part-financed by the Vendor under the terms of the business purchase agreement;
- Protecting the confidential information you share with others when selling a business by supplying you with a customised Non-Disclosure Agreement or Confidentiality Agreement to be signed by an enquirer or prospective purchaser of your business;
- Preparing documents to transfer ownership of your intellectual property, such as an Intellectual Property Assignment Deed or an Intellectual Property Licence Agreement;
- We are preparing the contract agreement for the assignment of an existing Franchise Agreement.
OUR SERVICES FOR A BUYER OF A BUSINESS ON A BUSINESS PURCHASE AGREEMENT INCLUDE:
- Legal advice on all aspects of buying a business, including transfer of an existing retail tenancy lease or commercial lease;
- Assisting you with the Due Diligence Process before you commit to purchasing a new or existing business;
- If you decide to buy a business, we can review and update any proposed Business Purchase Agreement or Contract for Sale of Business and any Special Conditions offered by the seller, and negotiate with the seller on your behalf;
- Advice and review of Vendor Finance clauses proposed by the Vendor in the business sale agreement for a purchaser with no money upfront or part-financed by the Vendor;
- If you’re investing in a private company, we can draft a Share Purchase Agreement or Share Sale Agreement, or review and recommend updates to agreements proposed by another party;
- Legal advice on structuring your new business or new venture to manage legal risk effectively;
- If you’re buying a business together with others, we can prepare or review a Partnership Agreement or Shareholders’ Agreement, and update and customise a contract provided by someone else to tailor the document to your circumstances;
- If you’re borrowing money to finance a new business or venture, we can prepare or review any Secured Loan Agreement proposed by the Vendor.
WHEN YOU ARE SELLING A FRANCHISE BUSINESS, OUR LAWYERS CAN PROVIDE LEGAL SERVICES, INCLUDING:
- Legal advice on all aspects of a franchise sale by an existing franchisee;
- Preparing a Franchisee Sale Agreement for a franchisee to sell their rights under a current Franchise Agreement;
- Negotiating legal terms and conditions of agreements on your behalf.
WE CAN ASSIST A PURCHASER OF AN EXISTING FRANCHISE BUSINESS FROM A FRANCHISEE, INCLUDING:
- Legal advice on all aspects of the purchase of a franchise, either from an existing franchisee or directly from a franchisor;
- Assisting you with the Due Diligence Process before you commit to signing a business purchase agreement, including reviewing and advising on the legal terms of the proposed Franchise Agreement;
- Reviewing and updating a proposed Franchise Purchase Agreement and negotiating on your behalf with the seller’s solicitor;
- If you’re buying a business together with someone else, we can prepare, review or update a Partnership Agreement or Shareholders’ Agreement.
Don’t hesitate to contact us today for further information on how Stevensen Business Lawyers can help you buy or sell a business effectively and efficiently.
Frequently Asked Questions
At the earlier stages of deciding on buying a business or a franchise, we recommend you seek professional advice from an accountant on whether the documents supplied to you (such as a profit and loss statement or franchisor disclosure statement) show this to be a worthwhile business for you to invest your time and money. If you do not already have an accountant, we can refer you to one.
Assuming your accountant confirms the financial viability of the business or franchise, it is then up to the solicitor for the other party to prepare the draft contract for you to consider. At that time, you will be asked to supply the contact details of your business lawyer. Once we receive the draft contract, we can provide you with our cost estimate, including a fixed-price component for the review of the contract.