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Business Contracts are tricky. As a seller, you should be seeking legal advice before signing a Business Contract. From a cafe to a multi-million dollar business sale, our lawyers can provide timely, cost effective and relevant legal advice to ensure your business exit is hassle free
Getting the assistance of an experienced business lawyer when selling a business will ensure the whole process proceeds as smoothly as possible. An experienced solicitor will help you with every step of the process when the time comes to sell your business. Our diligent team members will ensure that nothing gets missed or overlooked.
From pre-contractual negotiations, to preparing contract conditions specifically tailored to your business and your personal needs, our early involvement often in the sale process often leads to a smooth settlement and enjoyable business exit.
Central Queensland Conveyancing Centre has been helping clients buy and sell businesses for decades, and we pride ourselves in our rich history and client feedback. We know how difficult it can be for business owners to get it right on their own, so we are here to help every step of the way.
Getting a good price for your business is, of course, one of your primary concerns. This starts with valuing the business accurately. You need to do this part with your head, not your heart. You’ve worked hard to build a strong business and accurately valuing the opportunity can be a deciding factor in completing a transaction. You should engage financial professionals (e.g. an accountant or qualified business broker) early in the process and before you sign a Contract to ensure that you are happy with your sale price. We are not able to provide you with financial advice or comment on how your sale price was calculated.
Typically, many business sellers and buyers will attempt to negotiate the terms of the Contract between themselves. Whilst this can be a useful cost-saving activity, it can also be fraught with danger if those “negotiations” are recorded in writing or become contractual in nature before legal advice is obtained. We can help you to prepare a heads of agreement (or an agreement to enter into a Contract) to record the “nuts and bolts” of the deal, before the actual Contract is signed.
From a legal perspective, we will ensure that your Contract correctly reflects the negotiation and agreement between the parties. We will point out the hidden costs of a business sale and point you in the right direction.
During any negotiation of your business sale with your potential buyer, there are a number of things that you will need to agree on. These may include the sale price, handover training, restraints of trade, lease of business premises, plant and equipment list, ongoing rental agreements and settlement period.
Many of these contractual obligations may not have been discussed between the parties before the Contract is prepared. We will walk you through the options, and ensure that you know what you are signing up for, as some contractual obligations can continue after settlement and impact on future business endeavours.
Successful business contracts and sales usually involve a bit of give and take between the parties, and we work closely with you to ensure that your business sale requirements and expectations are met. Our clients appreciate our honest and experienced approach to business contract negotiations, and we take pride in every successful business settlement.
