Why Should You Seek Advice From A Commercial Lawyer When Buying A Business?
Typically, when you are looking to buy an existing business in NSW, the vendor will provide you with a proposed Contract for Sale of Business prepared by their lawyer. Before you sign this contract or any other documents, it is highly recommended that you seek legal advice from industry experts, such as the commercial legal team at Brydens Lawyers.
As your legal representatives, we will provide you with thorough advice on the contract, including an analysis of any special conditions that may heavily favour the vendor. We will also negotiate changes to the contract to protect your interests and ensure that the purchase price you have agreed to is fair and accurate, according to market research.
Furthermore, we will take the time to understand your reasons for wishing to purchase the business, and inquire about any discussions you may have had with the business owner or business broker that could have influenced your decision. Even established businesses can have certain issues or concerns that the current owner will not fully or properly disclose. It is of utmost importance for us, as your lawyers, to conduct a comprehensive investigation and verification of any claims made by the vendor regarding the earnings or profitability of the business. This is done through a process known as due diligence.
In addition, we will discuss with you how you intend to finance the business purchase and provide guidance on the implications of obtaining any necessary financing. Our expertise in this area will ensure you are well-informed and prepared for any financial considerations that may arise along the way. In these ways, we can ensure that your interests are protected, and that you are able to make a secure and successful purchase.
Why Choose Brydens For Your Commercial Legal Advice?
Brydens Lawyers has a proud history of serving people in New South Wales. For more than fifty years, our firm has been providing legal advice and guidance to our clients that has helped them obtain their desired outcome.
Many people dream of becoming their own boss and taking charge of a small business. After all, small businesses make up the backbone of the Australian economy. This is why making the decision to purchase a business can be an exciting prospect for anyone, whether you already have a growing portfolio or are about to enter the market for the first time. However, there are potential legal pitfalls that you should be aware of. With the help of Brydens Lawyers commercial lawyers, we can ensure that your business purchase is a success and that no information has been concealed or obscured from you.
For example, we can collate profit and loss statements from the business to ensure that all sales growth, profit margins, and cash flow information are accurate and above board, and that there are no outstanding debts you are unaware of. It is these details that we can help take care of so that you can invest in the right business with confidence.
What Is Your Next Step?
Contact Brydens Lawyers to arrange a consultation with our representatives to discuss your purchase of a business.
Bydens Lawyers are experts in the field of commercial law. We will work with you to protect your interests and ensure that the correct processes are adhered to. Knowing that you have professional commercial lawyers on your side with only your best interests in mind can ease any concerns you may have when purchasing a business.
When Should You Consult A Commercial Lawyer?
You should consult Brydens Lawyers if you are purchasing or thinking about purchasing a business without any delay and certainly before signing any document.
Whether you are interested in buying an established business or a new business, Brydens Lawyers can help you ensure you are making the right decision, with your rights and
interests protected. Before signing anything, we can provide professional advice and legal guidance when it comes to buying a particular business.
Contact Brydens Lawyers for all your commercial legal needs. We can provide you with the advice and guidance you need to make an informed decision.
