Finding a Lawyer For Business Purchase, Sale Agreement Negotiation, and Advice
Finding a Lawyer For Business Purchase, Negotiation, and Advice Should Be Your First Step
The process of any property ownership transfer is by nature somewhat complicated due to the several requirements, sub processes, and due diligence that is necessary for a legally sound, fair, and binding agreement to be arrived at.
We are often asked – why do I need a lawyer for a business purchase?
The short version is to protect yourself and ensure your property transfer goes as well as possible.
The services we offer as commercial property lawyers start before you have even found a property to express interest in as we can advise and provide our significant sector experience to help inform your property search.
Whether you are starting a new business and need to find a commercial premises to purchase or have a long standing commercial real estate portfolio, it is essential to bring an independent legal adviser on board to ensure your position is as favourable as possible.
Things to Consider When Starting Your Property Search
• Do you consider the business to be a solid long term investment?
• Why is it being sold, and why now? For example, is the lease expiring, the turnover declining, has competition lowered expected returns, or have local changes affected the venture?
• Is the zoning secure, or is or redevelopment planned in the area?
• Are there existing employees involved with the business or attached to the premises, and do you intend to take them on or install your own staff?
• Does your desired premises comply adequately with zoning requirements, building reports, and health code legislation?
• Are you reasonably confident of it generating a reasonable income?
• Are there health and safety requirements, and how do they affect your proposed commercial venture?
• How extensive are your tax liabilities likely to be?
• Have you considered the structuring of your ownership? Should you own the business as a sole trader, in a partnership, as a limited liability company, or as a trading trust?
• Does your business involve a franchising arrangement, and are there any listed considerations you need to apply to your premises?
At Quay Law, we can assist you with several of these vital lines of investigation, and bring our significant commercial law experience to your team.
Your Lawyer For Business Purchase, Negotiation, and Advice
As your commercial property lawyer, we will help you ensure that you are informed, understand the terms, and are benefitted by the sale agreement.
From start to finish, our commercial and property solicitors are there to examine the existing documents, advise on any reports that can be pursued, as well as draft and review any sales agreements and binding documentation. Through these vigorous processes it can be assured that should you find an aspect of the business or associated premises that you find unsatisfactory you should not be irretrievably bound to the agreement.
When you have retained a lawyer for a business purchase you benefit in the following ways:
– Advice and guidance when inspecting business documentation, financial and annual reports and records.
– Receive the appropriate warranties in regard to finances and assets from the seller
– Understand the location and condition of the business assets
– Identify conditions that require fulfillment prior to the sale, or liabilities that the seller needs to pass on at the point of sale.
Your lawyer can check on any leases, financial agreements, or other binding contracts that you are considering as well as advise you on the business structure that best suits your needs and assist you in matters of financing and taxation
Assisting You on Your Commercial Journey
There are a great many professional and commercial partnerships that you will take on as a business owner – your staff, landlords, premises managers, suppliers, and governmental both local and national to start with – and one of the most valuable you can cultivate from an early stage is with a reliable and trustworthy legal team.
Our Business Law Services Include:
– Drafting, reviewing, advising on the agreement for sale & purchase of the business
– Provide advice around council permission, licences, zoning, and permits you should be aware of
– Conduct and advise upon reports, searches, or relevant information discovery
– Considered advice regarding a purchase of business shares or assets
– Review any employee contracts that exist and, depending on your intention to keep staff on or install new staff, advise of your obligations in reference to them
– Ongoing business documentation including but not limited to the shareholders agreements, company constitution, any existing employment agreements, and more.
– Advising on the most suitable structure for the business
– Review the existing leases, commercial property ownership documents, or tenant agreements that you may take on when purchasing
– Assist you in obtaining finance, funding, and bank security documentation in pursuit of your business purchase
– Review the existing contracts with suppliers, distributors, licencing agreements, manufacturers, etc.
Get in touch with our commercial and property lawyers today and discuss the many ways in which we can help you on your path to purchasing a business or commercial property. Call, contact us online, or make an appointment.
