Buying or Selling a Business?

When buying or selling a business it is essential that you consult a lawyer before signing a contract. Contact our experienced team at MCNA.

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Buying & Selling a Business in Ipswich

Buying or selling a business can be an exciting and stressful time. You need a cool and experienced professional to ensure your interests are protected, and that your business is structured in a way that will serve you into the future.

When buying or selling a business it is essential that you consult a lawyer before signing a contract. Our experienced team at McNamara Law will review the contract to ensure that it gives effect to your intentions, and raise issues which you may not have given consideration.

The right advice at the earliest opportunity can save you money, give you the best chance of success and provide you peace of mind.

Business purchases will typically involve advising clients with respect to the following:

  • confidentiality agreements
  • heads of agreement
  • structuring
  • negotiating and drafting contract terms
  • due diligence enquiries
  • review of lease agreement
  • assignment of lease
  • employees
  • licencing
  • transfer duty (stamp duty)

Our team will work collaboratively with your other keys advisors (accountant, insurer etc.) to make sure your vision becomes a reality. Being a long standing, local Ipswich and the Lockyer Valley firm we have strong relationships with all local professionals.

Frequently asked questions

Frequently asked questions about buying or selling a business.

Sale of Shares or Sale of Business Assets?

If the business is owned by a sole proprietor or a partnership, the business will be purchased by way of an asset sale.

If the business structure is by way of a company, the business may be purchased as an asset or share sale.

Whether to buy the business assets or shares depends on a number of factors, and when considering this, it is crucial to seek financial and legal advice, so book an appointment with us on 135828.

Explanation of a Contract

Once you have reached an agreement, normally the seller’s lawyer will draw up the contract for your review.

It is important to have your lawyer review the contract to ensure that it accurately reflects the agreement between you and the seller.

If there has been something left out, or it contains something that was not agreed, your lawyer can negotiate the appropriate changes. Once the contract is signed, it will be extremely difficult, if not impossible, to make changes later on.

Looking for more information?

Download our Commercial Law Guides.

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Experienced, effective & efficient local lawyers