Lawyers for a Business Purchase: IP Partnership are your commercial solicitors

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Sale or Purchase of a Business that is not a Franchise

Special Conditions are not simply for the sale of franchised businesses, they can also be used to document whatever has been commercially negotiated between the parties. For example, a buyer require the seller to terminate the employees and pay out all entitlements, or a seller may require, on the basis that the bulk of the due diligence enquiries were carried out prior to entering into the business sale agreement, that the contract becomes unconditional as soon as possible.

In short, the REIQ Business Sale Agreement is an acceptable form of contract for the sale of a business or purchase of a business however it is important to obtain legal guidance to prepare special conditions, a deed of restraint of trade for the seller, and ensuring your obligations pursuant to the contract are met – such as releasing security interests from the PPSR or transferring Trade Marks to the Buyer at Date of Completion.

As part of a business purchase or business sale our commercial law services can provide the following assistance:

–          Structuring Advice

–          Establishing a proprietary limited company

–          Setting up a discretionary trust (family trust) or unit trust

–          Assigning leases and negotiating with the lessor’s solicitors the terms of a lease

Read More: IP Partnership are your commercial solicitors

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