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Business Sales & Purchases
Legal advice for buying or selling a business
Our business sales and purchases lawyers in Melbourne and Mount Waverley assist buyers and sellers at every stage of a transaction, from initial negotiations and due diligence through to contracts, lease assignments and settlement. We focus on clear, practical advice so you understand the risks, protect your position and achieve a smooth transition of the business.
Business sale contracts – drafting and negotiating contracts of sale, including assets, goodwill, stock and restraints.
Buying a business – advising on due diligence and reviewing the sale contract, leases, licences and employee issues.
Selling a business – preparing heads of agreement, managing conditions precedent and dealing with landlords, franchisors and financiers.
Settlements and completion – handling adjustments, settlement statements and post‑completion obligations.
FAQs: Common questions about due diligence, business sale contracts and settlement are answered below.
Frequently Asked Questions About Business Sales and Purchases
What is "due diligence" when buying a business?
Due diligence is the process of investigating a business before you commit to the purchase. We review key contracts, leases, employment records, and intellectual property to identify any "red flags" or hidden liabilities that could affect the value of the business or your decision to buy.
What happens to employees when a business is sold?
This depends on whether the sale is a "share sale" or an "asset sale." In an asset sale, the new owner usually chooses which employees to offer employment to. We advise on your obligations regarding employee entitlements, such as annual leave and long service leave, to ensure a smooth transition.
When does a business sale become final?
The sale is final at "settlement," when the purchase price is paid, and the ownership of assets (including the lease and business name) is transferred. We manage the entire process, from negotiating the contract to coordinating with your financier and the landlord for a successful settlement.