The Legalities of Buying a Business

Are you interested in buying a lucrative business? Our team of experienced Business Settlement Lawyers in Perth are the right people to approach for any legal opinion on the intricacies of purchasing a business. They have the necessary expertise and knowledge to advice you on the high-stakes matters of buying or selling a business. Our legal team can provide assistance with all types of businesses such as partnerships, companies or even trusts. We can also put you in touch with various accountancy agencies to understand the financial ramifications of the same.

We understand how challenging it is to successively buy or sell a business and our strong legal team of Australian business lawyers will be happy to answer all the queries you have with respect to the same. Here are some useful tips to keep in mind:

1. Do the due diligence: Are you purchasing only assets, equipment, plant, IP and goodwill or are you purchasing even business shares of the company? Are there any unresolved black marks on the business like unpaid debt, bad credit rating, court proceedings or Personal Property Security Registrations (PPSR) encumbrances?

2. Do the numbers: Make sure that you do the proper homework to evaluate the actual purchase value of the company. Else if you end up paying too much, the operations might fail to become commercial, especially if funds are being borrowed to purchase the business.

3. Retaining the staff: In usual circumstances of new ownership of a company, the new management retains the present staff of the company with terms no less favourable than before and with all benefits like personal leave and annual leave entitlements intact.

4. The lease: Do you have the intention to take over the premises? What consents are required from the landlord regarding the new lease?

5. Employ the right legal team: Get excellent legal and financial advice before you decide to purchase a business.

Business to business transactions are increasing by the day and you need the best legal counsel to assist you with the complexities of running a business. For more information, please call on our team of Business Settlement Lawyers in Perth who will help you achieve the best possible solution in any case.

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