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Buying a business or Selling a business

At Shore Lawyers, we pride ourselves on being among the best business lawyers in Sydney. We see ourselves as an extension of your business, providing expert legal advice while maintaining the objectivity needed to capture the best opportunities and mitigate risks. Our primary goal is to help you achieve your business objectives.

Our support model is tailored to complement your skills and experience, whether individually or organizationally. From comprehensive legal support to identifying regulatory issues and coordinating thorough due diligence, we ensure that your business is well-resourced and strategically positioned for success.

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Our Expertise

Buying a Business

Our comprehensive approach addresses important matters that decrease your risks and ensure you are free to operate your new business with confidence. You choose the support level you require in your particular circumstances. While some of these matters are not purely the domaine of Legal Advisory, we can ensure the right external support considers these important matters.

Contract Reviews : Including the Business Contract of Sale and other contracts and agreements, such as customer contracts, supplier agreements, and leases to identify any unfavorable terms or obligations, and importantly identify any areas for optmisation.

Legal and Regulatory : We review the operation to ensure the business meets various legal obligations and regulator – driven requirements.

Employee and HR Matters: We review the workforce, employment contracts, and HR policies. Understand the employee culture and potential matters of concern.

Intellectual Property and Assets: We confirm ownership of intellectual property, patents, trademarks, and other assets crucial to the business.

Financial Due Diligence: We work with an appropriately skilled accountant to assess the financial health of the business, including its assets, liabilities, cash flow, and profitability. We look for any hidden financial issues.

Valuation: We work with an appropriately skilled valuer to determine the fair market value of the business, considering factors such as earnings multiples, industry benchmarks, and future growth potential.

Customer and Supplier Relationships: We analyse the quality of customer relationships and supplier agreements and assess the risk of losing key customers or suppliers.

If you’re selling your business

Contract For Sale of Business: We analyse the quality of customer relationships and supplier agreements and assess the risk of losing key customers or suppliers.

Confidentiality: We maintain confidentiality throughout the Due Diligence and other selling processes to prevent disruptions in the business and protect sensitive information.

Tax Considerations: We work with an appropriately skilled accountant to ensure the deal structure optimises your tax related obligations.

Negotiation and Closing: We engage in negotiations with potential purchasers to reach an optimal outcome ensuring a well-structured sale process and a smooth closing.

Financial Preparation: We work with an appropriately skilled finance professional to ensure your financial records are accurate and up to date. Well structured, explainable and credible financial reports will increase the marketability of your business.

Business Valuation: We work with an appropriately skilled finance professional to determine the asking price for your business based on its financial performance and market conditions and risk profile.

Customer and Employee Transition: We help you develop a plan for transitioning customers and emplovees to the new owner to minimise business disruption.

Post Sale Transition: We assist you in your planned transition period after the sale to help the new owner succeed.

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Our Professionals

Our professionals provide expert legal and strategic assistance. Get in touch and we’ll find the right lawyer for your matter.
Tatiana-Tia

Tatiana (Tia) Stack

Practice Director

Rao Qasim Zahid

Rao Qasim Zahid

Practice Manager/Lawyer

Yoata-stavrop

Yoata Stavropoulos

Property, Family and Estate Specialist

What Our Clients Said…
Lisa Huwaidi

Lisa Huwaidi

Knowledgeable staff. Rao really put me at ease and talked me through my options. He made me feel really comfortable and listened to all of my concerns. Highly recommend.

Anna Kuang

Anna Kuang

I am so grateful to have Rao, Tatiana and Emily in the Team. They are extremely knowledgeable and professional with level of service. Highly qualified, provided excellent legal guidance & support.

Birth D

Birth D

I am eternally grateful to Tatiana and her friendly team – Rao, Aliya, Emily, Anastasia and everyone with whom we interacted, for the highly qualified legal assistance provided and for the high moral standards in the conduct of the case.
I recommend Tatiana to anyone who needs a high-powered lawyer, whom your opponent will be tremble of.
Thank you very much.

Zohair Ali Malick

Zohair Ali Malick

Exceptional service from the team of Shore Lawyers. Their professionalism, expertise, and attention to detail were truly commendable. A heartfelt thanks to Rao, Emily, and Aj for their unwavering support and strategic guidance. Their dedication ensured a seamless process and a successful outcome. Highly recommended!

Junaid Shahid

Junaid Shahid

My Case was very complex but the way Tatiana and her team stuck with me through the Years and fought the case in the best way. I felt like My family is fighting for me in Courts. I want to express my most sincere thanks for the most Professional representation.

Mo FD

Mo FD

I’m glad I used Shore Lawyers service. Special thanks to Mr Zahid, Paralegal/Practice Manager.
The team guided me step by step through my legal matter with patience and understanding. They are highly educated and knowledgeable, and Rao’s support met all my legal needs. I strongly recommend Shore Lawyers’ services.
Thank you Rao and Shore Lawyers

Baljit Singh

Baljit Singh

Shore Lawyers all staff so professional and responsive, and I received so much support . All the staff is very friendly and helpful. Would very much recommend them to anyone who need a lawyer

FAQ's

When buying or selling a business in Australia, there are several key legal steps to follow: • Conducting due diligence to review financial, legal, and operational aspects of the business
  • Drafting and negotiating a business sale agreement, outlining the terms of the sale
  • Transferring assets, leases, employees, and intellectual property of the business
  • Obtaining any required approvals, such as from government agencies or franchisors
  • Completing settlement, where payment is made, and ownership is transferred
Due diligence is the process of thoroughly investigating a business before purchase. This includes reviewing:
  • Financial records: Profit and loss statements, balance sheets, and tax returns.
  • Legal obligations: Existing contracts, leases, employee agreements, and ongoing or pending claims/litigation.
  • Assets and liabilities: Stock, equipment, debts, and intellectual property. Due diligence helps buyers assess the value of the business and identify any potential risks.
Yes, it is highly recommended to engage a lawyer when buying or selling a business. A lawyer can:
  • Review and draft the sale agreement to ensure it is legally sound.
  • Advise on the transfer of assets and liabilities.
  • Help navigate employment law issues if employees are being transferred.
  • Ensure compliance with legal requirements, such as licensing and permits.
A business sale agreement typically includes the following terms:
  • Purchase price: How much is being paid and the payment terms.
  • Assets being sold: What specific assets are included in the sale (e.g., equipment, inventory, goodwill).
  • Liabilities: Whether any debts or obligations are being transferred.
  • Conditions of sale: Any conditions that must be met before the sale can be finalised (e.g., finance approval, regulatory consent).
  • Warranties and indemnities: Guarantees about the state of the business and protection against future claims.
Yes, when selling a business, you need to notify employees about the sale. Under Fair Work laws, employees’ entitlements such as accrued leave and redundancy must be addressed. The new owner may be required to offer continued employment to the existing staff or pay redundancy if they do not.
Goodwill refers to the intangible value of a business, including its reputation, customer base, and brand identity. In a business sale, goodwill is often valued separately from physical assets and can significantly influence the purchase price.
The transfer of business assets can include:
  • Real estate and leases: Transferring ownership or assignment of commercial leases.
  • Intellectual property: Transferring trademarks, patents, or copyrights.
  • Contracts: Assigning contracts with suppliers and customers to the new owner. The terms of the transfer are typically outlined in the business sale agreement, and any necessary approvals must be obtained from third parties.
The value of a business is generally determined through a combination of methods:
  • Asset valuation: Calculating the value of tangible and intangible assets.
  • Earnings valuation: Assessing the business’s profitability through its earnings before interest, tax, depreciation, and amortisation (EBITDA).
  • Market comparison: Comparing the sale price of similar businesses in the industry. A financial advisor or accountant can help you determine the most accurate valuation.
When buying or selling a business in Australia, there are several tax considerations:
  • Capital Gains Tax (CGT): Sellers may be liable for CGT on any profit made from the sale of the business.
  • Goods and Services Tax (GST): GST may apply to the sale of a business unless it qualifies as a going concern (i.e., an ongoing business operation).
  • Stamp duty: Buyers may need to pay stamp duty on certain business assets, such as real estate.
Settlement is the final step in the business sale process. At settlement:
  • The buyer pays the agreed purchase price.
  • Ownership of the business and its assets is transferred.
  • Both parties fulfill their obligations under the business sale agreement. A conveyancer or solicitor will usually handle the settlement to ensure all legal requirements are met.
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Level 2, 104 Mount Street, North Sydney NSW 2060

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02 9712 4244

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(+61) 410081414

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cases@shorelawyers.com.au