When purchasing or selling a business, there are a wide variety of aspects to consider such as fitout requirements, transfer of employees and benefits, licencing requirements, stock valuation and sale conditions. Gladwin Legal takes a multifaceted approach to selling or buying a business, to ensure your personal, commercial and financial needs are meet.
We can help ensure that your sale of business contract is what you want it to be. We understand that a sale of business is more than just a transfer of money, and in some instances, it’s your entire livelihood. A sale of business can entail obtaining the landlord’s consent, negotiating terms of sale, transferring ownership of trademarks and drafting documents such as employment agreements and business policies, all of which we can manage for you.
Buying a business can be difficult, especially when considering what obligations and regulations apply to you and whether you can operate the business the way you want to. We can take these complicated questions for you and make them simple, by providing advice you can understand and options that suit both your business and personal needs. Our extensive experience with sale of business contracts has equipped us with knowledge of how to deal with a variety of issues that may arise. We can assist you with everything from initial due diligence, negotiations, review of the agreement right down to making sure you get everything you need at completion to have clear title to the business.
For a free consultation and peace of mind when purchasing or selling a business, get in touch with Gladwin Legal. We’re here to help.
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Frequently Asked Questions
We recommend seeking advice about a sale or purchase of business when you are first considering the sale or purchase. It is important to gain context about the structure of the sale or purchase as this can affect your liability and the costs of the arrangement.
The costs of selling or buying a business can vary depending on the structure of the sale (whether it is being sold as an asset or as a company) and the steps required for the sale. Contact us to discuss your scope of work and to obtain a quote.
In addition to the purchase price of a business, it is also important to consider the cost of employee entitlements (such as superannuation, annual leave, long service leave and potential redundancy pay).
Who pays for these entitlements will generally be negotiated between the parties. Either party may be responsible for either paying them out or carrying them across.
The parties may agree that the vendor is to pay the benefits and entitlements out, allowing the purchaser to start fresh when the business is transferred. Alternatively, the entitlements may be honoured by the new business owner, with appropriate adjustments being made to the purchase price.