Sale of Business Contracts

When you are buying a business or selling a business, as experienced small business lawyers, we can take you through all the steps of the Business Purchase Agreement or Contract for Sale of Business until completion and the buyer taking over the business. Our aim is to streamline the sale of business agreement process as much as possible, whether you are a seller or buyer of an established business or franchise, so as to provide you with value for money legal services.

Our services to assist the Vendor in the sale of business include:

  • Legal advice on all aspects of selling a business, including transfer of an existing retail tenancy lease and transfer of employees;
  • Preparing the Sale of Business Agreement for transfer of the assets of the business being sold;
  • Preparing the Special Conditions to be annexed to the Law Society of NSW standard form contracts for a Contract For Sale of Business;
  • Drafting the Vendor Finance clauses for a purchaser buying a business with no money upfront, or with part financed by the Vendor;
  • 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 the business;
  • Preparing and negotiating on your behalf a Heads of Agreement or Memorandum of Understanding at the start of your deal, prior to preparation of other transaction documents;
  • Preparing documents for transferring ownership of your intellectual property into your new company or other business structure, such as an Intellectual Property Assignment Deed or an Intellectual Property Licence Agreement;
  • Preparing the contract agreement for the assignment of an existing Franchise Agreement;
  • Preparing a Secured Loan Agreement for you as the lender of money to finance a new business or venture, including the Security Document or Mortgage.

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;
  • When you are looking to purchase an existing business, can assist with the Due Diligence Process before you commit to buy the business;
  • When you buy a business, our services include reviewing and updating a proposed Business Purchase Agreement or Contract for Sale of Business and any Special Conditions proposed by the seller’s solicitor to that standard from contract, including negotiating with the seller on your behalf;
  • Legal advice and review of Vendor Finance clauses proposed by the Vendor for a purchaser buying a business with no money upfront, or with part of the purchase price financed by the Vendor;
  • For your investment in a private company, we draft a Share Purchase Agreement or Share Sale Agreement, or review and recommend updates to a document supplied by another party;
  • Legal advice on structuring your new business or new venture to effectively manage legal risk;
  • For those going to buy a business together with someone else, preparing or reviewing a Partnership Agreement or Shareholders’ Agreement, or updating and customising a standard template or “one size fits all” contract provided by someone else;
  • Preparing or reviewing a Secured Loan Agreement proposed by the Vendor’s solicitor, for you to be the borrower of money to finance a new business or venture, including the Security Document or Mortgage over your assets.

When you are selling a franchise business, our lawyers can provide legal services including:

  • Legal advice on all aspects of the sale of a franchise by an existing franchisee;
  • Preparing the Franchise Sale Agreement for a franchisee to sell its rights under an existing Franchise Agreement;
  • Negotiating the legal terms on your behalf.

We can assist a purchaser of an existing franchise business from a franchisee, and our services include:

  • Legal advice on all aspects of the purchase of a franchise, either from an existing franchisee or from the franchisor direct;
  • Assisting you with the Due Diligence Process before you commit to buy the business via a business purchase agreement, including reviewing and advising you on the legal terms of the proposed Franchise Agreement;
  • Reviewing and updating a proposed Franchise Purchase Agreement including negotiating on your behalf with the seller’s solicitor;
  • For those going to buy a business together with someone else, preparing or reviewing a Partnership Agreement, or updating and customising a standard template or “one size fits all” contract provided by someone else.

For further information on how Stevensen Business Lawyers can assist you to best acquire or sell a business, please contact us today.