Business Sale & Purchase Articles

Business succession often occurs in an orderly fashion due to people retiring or moving on to other ventures. Sometimes, however, the transition can be unplanned, rapid and more costly where a proprietor suffers financial hardship, illness, death or divorce. Where a business is sold or transferred in a ‘fire-sale’ situation, without the benefit of the… Read more »

A contract for the sale and purchase of a small business should not be completed unless a Vendor’s Statement, also known as a Form 2, has been provided to the purchaser. The Land and Business (Sale and Conveyancing) Act 1994 (“Act“) and the Land and Business (Sale and Conveyancing) Regulations 2010 (“Regulations“) set out the… Read more »

In most commercial transactions the parties will need to negotiate the terms before agreeing on the final details.  Successful contract negotiation is not just about who has greater bargaining power – it is also about research, planning and following some well recognised guidelines. Examples of these transactions include; shareholder agreements, partnerships dissolutions, commercial leases, the sale… Read more »

Lawyers Adelaide Beger & Co Lawyers Adelaide provide legal services in a wide number of areas.  These range through personal and business legal matters for our clients. Some of our more commonly requested legal services include: Wills and Estate Lawyers Adelaide A large part of our legal practice’s activity is acting as wills and estate… Read more »

Stamp Duty was abolished from all SA business transfers from 18 June 2015 but this is still (good) news for lots of people. In fact, SA stamp duty was abolished for transfers of all non-quoted marketable securities (shares in private companies), units in unit trusts and all non-real property (non-land) transfers which includes licences such… Read more »

When the average yield for a 3 bed house in Adelaide is around 4.5%, is it really possible to buy an average 3 bedder that grosses 15% or higher? Yes it is! But of course, there’s a unique business model behind this strategy. One of my long term clients, Melinda Mayne, bought a very ordinary… Read more »

If you have been thinking about starting a new business, now might be a great time with the introduction of a number of significant small business incentives set out in the Federal Budget for 2015/16 announced on 12 May 2015.   The tax incentives for new business start ups include: Small business tax rate cuts (the 2015/2016 tax… Read more »

Unfortunately, in the rush to start a new business or enter a franchise, many clients seek advice after they have already signed an ‘Agreement to Lease’ or ‘Lease Proposal’.  These documents are often binding and not capable of further negotiation!  It is vital to receive independent legal advice before signing anything. The reasons documents are… Read more »

A ‘cooling off period’ is a short period of time in which the purchaser can back out of a contract. Cooling off rights and periods can be found in a number of contracts – from the purchase of a house or car, to domestic building contracts. However, cooling off periods differ from state to state,… Read more »

People carrying on business in common for profit are in Partnership. It is an old and historically successful business model, although more businesses today incorporate as a limited liability corporation. The unwritten essence of a partnership is trust between partners and when trust no longer remains, the end of a partnership becomes a real possibility. A… Read more »

Business Purchase Checklist

by | Business Sale & Purchase

Most people that find the right business want to sign the contract and settle as soon as possible. This approach can often lead to costly mistakes that could easily be avoided by going through a checklist and obtaining relevant advice. Before signing a contract to purchase a business, consideration should be given to: undertaking an… Read more »

We may still be disappointed when a due diligence exercise reveals what a mistake the purchase of a particular property or business would have been.  It can be difficult to overcome the excitement and anticipation of a new home, investment or business, even though your lawyer shows you that you may have just “dodged a… Read more »

Starting a business can be an exciting and rewarding experience.  It can also quickly become a nightmare (even if the business is successful). Often it is difficult for an individual to find the finance necessary to start a business and so people look for partners.  A partner can also bring to the business skills and… Read more »

A fairy floss story: Whizzo had a fairy floss franchise.  It sold its territory in SA and WA to Floyd.  Under the franchise agreement, Floyd agreed not to compete with Whizzo after the end of the franchise period for 10 years anywhere in Australia. At the end of 5 years, Whizzo asked Floyd to renew… Read more »

What can go Wrong? A landlord owned prime commercial premises that were leased to company B, the branch of a national retail chain, and payment of the rent was guaranteed by company C. B transferred the lease to another company; both went bust.  C didn’t have to pay the lost rent because the Guarantee only… Read more »