Commercial contracts of sale and purchase
Let us protect your commercial investment
It is an exciting time to buy or sell a business. However, poorly drafted legal documentation can dampen your enthusiasm and sour the transaction. Bowlt Commercial Lawyers can represent you and your business, so you and your interests are protected.
Purchasing a business
If you are purchasing a business, we will work through the contract of sale documents to highlight any hidden traps or unorthodox conditions. There can be hidden clauses that are traps for unsuspecting purchasers.
When you engage with us to represent you during the purchase of a new business, we thoroughly investigate the contract of sale to ensure the following items are transparent and correct:
- It outlines what you are purchasing and what is excluded in the sale of the business
- Proper due diligence is undertaken, and any outstanding issues have been resolved
- The transfer of the lease or a new lease has been processed to be ready at the time of settlement
- Employees - are you re-employing the current staff and are there are allowances for their existing entitlements
- We will check to ensure all important Intellectual Property (IP) will be properly transferred upon the purchase of the business
- Any other special conditions that may affect the sale of the business
Selling Your Business
Before you consider selling your business talk to us first, so we can walk you through all of the considerations necessary to guarantee a smooth transaction.
We can draft your contract of sale to include the following items:
- Outline a suitable deposit to be paid by the purchaser
- Include conditions as to the payment of the balance owed and any special conditions if the full balance of the purchase price is not paid on settlement
- Ensure all documentation is correct if the purchase price is less than $350 000
- The contract of sale is fully transparent and not misleading
We also have experience in company share sales and sales of units in unit trusts, which are other methods of transferring control of a business. We will take the stress out of those types of transactions.
Give us a call today and we'll be happy to chat to you or you can email us.