Don’t lose sleep, get a business lawyer to act for you. You may not have owned a business before, if so deciding to purchase a business is an exciting but nervous decision for you. You may be losing sleep at night or you are incredibly excited about the decision but are so excited you are not taking the time to do the diligence on the business that you should. You may not know what due diligence you should do as this is all knew to you.
You may own a business already and are buying another one to expand. You know how the process works but there are still issues that you need help with. You don’t want this to be a decision which jeopardises what you have already built – you want this decision to help you grow and add value to your existing enterprise. Again, this decision still involves risk for you but it is risk which you can manage and reduce particularly with the assistance of a good lawyer.
We are business lawyers. We know how business works. We like acting for business owners. They think differently to other people. They know business requires risk but there is reward if the risk is managed correctly. We help you manage your business risk and there is no greater risk than the decision to buy a business. A lot can go wrong along the way. If we do our job right, we reduce the risk associated with purchasing a business and we will likely save you money along the way. We will value add to the transaction.
Start early, get us involved before the negotiations start. We can guide you on how you can maximise the deal and save on costs throughout the purchase and settlement process. We can assist you with the structure for purchasing the business, should you use a sole proprietor, trust or company or some other structure? The answer to that question requires a discussion with your lawyer and accountant and the combined wisdom of those experts.
We will assist you with negotiating and drafting the contract. Don’t sign the contract without us first reviewing it. What if you could have saved on duty? Not paid the landlord’s costs for the assignment of the lease? What if you should have included a due diligence clause to allow you some time to review the business records in greater detail and to think over your decision? All of these things need to be dealt with prior to the contract being signed as they need to be addressed in the contract terms.
We are here to assist you with this decision. We are dedicated to our business clients. We want to act for you for a lifetime, not just one transaction. Call us today to discuss purchasing a business with a business lawyer. We can be contacted on (07) 4724 1016.