Whether you are just starting out in a small business, or you run a multinational company, you need specialist legal advice to set you up for success. Corporate law is the area of law that relates to the governance and regulation of business, while business and commercial law deals more with transactions and commercial trading.
It is essential to get the right legal support for your business. Please contact our lawyers if you need any type of corporate or business legal advice. We provide the spectrum of services with our expertise extending to:
- Negotiation and preparation of business purchase contracts
- Due diligence
- Structuring and restructuring of business entities
- Financial services including loan agreements and securities
- Shareholder agreements/partnership agreements
- Family or unit trusts
- Terms and conditions of trade
- Personal Property Securities Register (PPSA)
- Distribution/finance agreements
- Licensing requirements
- Asset protection and business succession
- Medical and allied health businesses
Are You Buying and Selling a Business?
Selling or buying a business is usually a high-stake transaction, and the terms of the sale can have long-term financial consequences.
One common scenario that we see is someone purchasing a larger share in their own business from a co-owner. In these cases, there is often a buy/sell agreement in place that dictates the process for change in ownership of the business. It is crucial risk management for any business co-owner to have a feasible and enforceable buy/sell agreement. The buy/sell agreement may require that the buyer pay a percentage of the business interest value in a lump sum and then pay off the balance in regular instalments.
Are You Starting or Restructuring a Business?
Most Australian businesses are structured as sole traders, partnerships, corporations, or trusts. Each one of these business structures have advantages and disadvantages, so it is important to get advice and seriously consider personal liability and tax implications before making your choice.
When you need to make significant changes to the financial or operational structure of a business, this is known as restructuring. Companies restructure for a variety of reasons, including in preparation for sale, merger, buyout, transfer of ownership, change in business goals and financial distress.
How do you Protect Your Assets?
Your business has assets that need to be protected from theft and harm. The protection measures that are right for your business will vary depending on your circumstances. Generally speaking, you should choose the business structure that delivers the most protection, institute policies and procedures that protect your assets from fraud and theft and purchase adequate insurance cover.
What is Business Succession?
Most business owners need to give some thought to who will take over when they cannot, or no longer wish to, continue running the business. A business succession plan will help you successfully transfer your business interests to your successor. This plan will help mitigate the risks to your business if you become ill, have an accident, or pass away unexpectedly.
What is the PPSA?
The Personal Property Securities Register (PPSA) is an online register of security interests in personal property. Personal property is any asset such as vehicles and machinery (everything except land and buildings).
Members of the public can search the PPSA to see if a particular piece of property is covered by a security interest. For instance, a bank may take out a security interest on a vehicle if they lent someone the money to purchase the vehicle. Our firm can advise you on the business implications of registration on the PPSA.
If you need assistance, contact one of our lawyers at [email protected] or call 07 3391 7511 for expert legal advice.