Our expert commercial lawyers have decades of experience in business transactions and drafting of commercial documents.
We can help you with:
What People Say
”Good afternoon Andy, Corey and I just wanted to pass on our thanks for all your assistance and that of your team over the last few months in helping us get our house sold and with the purchase of our new one. I really appreciated that nothing seemed too much trouble. The way you took the time to go through things with us, answer all of our questions and your professionalism, and great customer service was very much appreciated and you made what could have been quite a stressful situation seem like a walk in the park. Thank you again.Lucy and Corey
”Thank you Karunn for your thorough review of the contract yesterday at short notice. Very much appreciated - I felt in safe hands, in the middle of a very time-sensitive and important transaction.David
Frequently Asked Questions
From 1 January 2011, Australian businesses operates under the unified national consumer law, called the Australian Consumer Law (ACL). The law applies to consumer transactions in all Australian States and Territories, whether conducted face-to-face or online. If you are a business owner or manager, it is crucial that you understand how the ACL works and how it can affect your current operating practices to prepare your business for an increase in enforcement of regulatory bodies. It’s necessary to assess whether your current business practices are in compliance with the ACL by reviewing the contracts you offer consumers for the supply of services or goods. We suggest that you review the following areas including:
- extended warranty protection clauses
- exclusion clauses
- limitation of liability clauses
- so-called “entire agreement” clauses.
In business law, a company is described as a legal entity formed by a group of people who contribute money (or the worth of money) to a common stock that is then employed in a business enterprise. The people within this group will share the profit or loss arising as a result in operating the business. A company’s business line will depend on its structure which can be a partnership, proprietorship, or even a corporation. Companies may also be public or privately owned and are generally organised to earn profit from business activities. Companies today are an integral contributor to the health of an ecomy as they employ individuals and attract disposable income to spur growth.
In corporate law, there are rules and regulations that exclusively pertain to business corporations. They regulate the obligations and rights involved with the business activities of a corporation including its formation, operation, ownership and management. As corporations become more powerful and profitable, they can begin to monopolise markets and become exclusive providers of a particular service trade or product. As a result, corporate laws are put in place to maintain a fair market so new younger businesses can enter and compete with others fairly. This creates an even playing field by outlawing overly unpredictable business behaviour and activities.
Whilst it’s not a necessity to sell your business with a solicitor, it is advisable to have the knowledge and expertise of experienced business lawyers at your disposal. Buying or selling a company is a major transaction in which you need to carefully consider a range of legal issues. Experienced business solicitors will be able to prepare your sale contract, answer any burning questions and assist you through the entire sale process.
Depending on the nature of your business, selling it can be a tricky process. There are certain factors which need to be taken into account to ensure the smooth sale of your company. A sale of business contract should be drafted by professional business solicitors to ensure that a contract encompassess all the terms and conditions agreed. Here are the following factors that business solicitors will consider below:
Look into all parties involved: All parties within the contract must be identified correctly as incorrect details can cause undue delay in the time of settlement. A solicitor will clearly outline the individual purchasing the business or whether they are purchasing on behalf of another entity. The purchaser and their capacity to complete a sale must also be clearly outlined in the contract.
Sale items: Business solicitors will also make clear in the contract what you are selling. This can be anything from physical assets, business records, licenses, logos, trade secrets etc. If you are a seller, it is your responsibility to explicitly identify what it is that you are selling.
Disclosure: As a seller, you are also required to disclose important information to the purchaser. Under the standard sale of a business contract, the purchaser will have rights to terminate a contract if you fail to do so. Information that is required to be disclosed can include business liabilities or debits, the employees, employee entitlements, licenses required to operate the business, etc. Chat with our experienced business lawyers to assess which items can be disclosed in your contract.
Leasing: When selling your business, check your lease terms to ensure that you have the right to assign or transfer the lease to the buyer. Standard leases will usually have terms which require the seller to obtain the landlord’s consent before you transfer the existing lease to another party. Leases may be of substantial value to purchasers. If you are unable to transfer the lease, you may not be able to sell your business completely. Unsure of your rights to transfer an existing lease? Have it reviewed by our business solicitors.