Business Sales & Purchases

Buying or selling an established business? Let us help you navigate the legal process

Buying or selling an established business? Let us help you navigate the legal process

Buying or selling an established business is a decision not to be taken lightly. There are a host of matters to be considered. So it’s vital to get the advice you need from lawyers who specialise in Commercial Law.

Our Commercial Lawyers can help with the sale or purchase of a range of business types, from sole traders and partnerships to companies and trusts.

Buying a business

When purchasing an established business, we can help by conducting a thorough due diligence of the business to ensure you will be getting what you pay for.

We will also assess and advise on:

  • The business structure. We will work with you and your accountant to help determine the best structure to suit your needs –
    • Sole Trader,
    • Partnership, or
    • Company (standalone entity or as trustee of a family or unit trust).
  • The contract, including advice on any recommended amendments to protect your interests such as the transfer of Intellectual Property and other key assets like the client database.
  • The business premises. Often the goodwill of the business is closely connected to its location. We will carefully assess the lease terms, to ensure everything is in order. If not, we will negotiate a new lease term on your behalf.
  • If you need finance to buy the business, we can advise on the lender’s terms and conditions and liaise with your lender to ensure funds are available on settlement.

Selling a business 

When selling a business it is crucial to ensure the Contract for Sale of Business is correct and reflects the agreement between both parties. We will guide you through the entire process, working as a team with you and your designated business broker to ensure the best possible outcome.

Once a suitable vendor for your business has been found we will:

  • Prepare the Contract for Sale of Business. The Contract contains the fundamental terms of the sale (purchase price, business equipment/assets and the lease terms, if applicable).
  • Ensure any lease is fully assigned and your obligations as tenant are released by the landlord.
  • Ensure any existing charges over business or personal assets as guarantor are released on settlement.

For specialist advice and assistance when buying or selling a business, contact the Commercial Law team at Aubrey Brown Lawyers.

Our team of specialist staff are ready to help.