Buying an existing business without a lawyer can be risky. A lawyer can play a variety of roles if you are considering buying a business (or even starting a new business). You want to ensure that you are not inheriting the debts and legal problems of the former owners. For instance, what if they have misrepresented the sales or income of the business? Do they have the right to the business name? How much time is left on the lease? Do they owe money on the inventory or equipment and could it be repossessed by the suppliers? Does the landlord agree to the sale?
The popular belief of a lawyer’s role in the process of buying a business is limited to the technical aspects such as preparing a purchase agreement or reviewing a lease, or even just incorporating a new company. Our role as lawyers doesn’t have to stop there. We can assist in investigating these and other important components when buying a business, as part of the due diligence process.
It is the duty of lawyers to ensure that you understand the risks you are confronting, which sometimes get overlooked in the enthusiasm to acquire or start the new business.
All in all, our goal is to advise you thoroughly, in plain language and deliver that advice to you in a timely manner.
Our lawyers have strong negotiation skills, ensuring that all the technical legal issues are addressed throughout the transaction, and that your interests are protected.
Call us now on 1300 907 335 or complete the contact form for a confidential discussion about your proposed business purchase.
Level 11, 179 Queen ST
Melbourne Vic 3000
Level 1, 441 South Road
Moorabbin Vic 3189
Ground Flr, 435 Nepean HWY
Frankston Vic 3199
Ground Flr, 84 Hotham St,
Preston VIC 3072