Purchase & Sale of Business

Navigating the purchase or sale of a business is a complex process that requires careful legal guidance to protect your interests and ensure a successful transaction. At Verge Legal, we offer expert legal services tailored to every aspect of buying or selling a business in Australia. Our team is dedicated to providing you with the clarity and confidence needed to make informed decisions throughout the process.

Due Diligence

Due diligence is a critical step in the purchase or sale of a business. This process involves thoroughly investigating the business’s financial health, legal obligations, and potential risks. For buyers, due diligence ensures that you are fully aware of what you are acquiring, including any hidden liabilities or issues that could impact the value of the business. For sellers, it provides an opportunity to address potential concerns before they become deal-breakers. At Verge Legal, we conduct meticulous due diligence, examining financial records, contracts, intellectual property, and more to ensure that you are fully informed and prepared to proceed.

Contract Review

The legal documents involved in buying or selling a business are often complex and detailed. A thorough contract review is essential to ensure that all terms and conditions are clear, fair, and in your best interest. Verge Legal’s experienced team carefully reviews all contracts related to the transaction, including agreements for the sale, purchase, employment, and intellectual property rights. We identify any potential risks or ambiguities and advise on necessary revisions, ensuring that the contracts protect your interests and comply with Australian law.

Sale / Purchase Contracts

The Sale or Purchase Contract is the cornerstone of any business transaction. This legally binding document outlines the terms of the sale, including the purchase price, payment terms, and conditions precedent. It also details the transfer of assets, liabilities, and ownership rights. At Verge Legal, we draft and negotiate Sale and Purchase Contracts that are tailored to your specific transaction, ensuring that all legal obligations are met and that your interests are fully protected. Our goal is to facilitate a smooth and efficient transaction that meets your business objectives.

Disclosure Documents

In Australia, sellers are required to provide buyers with Disclosure Documents that outline key information about the business, including financial statements, material contracts, and any existing legal disputes. These documents are essential for buyers to assess the value and risks associated with the business. Verge Legal assists in preparing and reviewing Disclosure Documents to ensure that they are accurate, comprehensive, and compliant with Australian law. We help you disclose the necessary information transparently while safeguarding your legal interests.

Tax, Permits & Compliance

Tax considerations, permits, and compliance with regulatory requirements are crucial aspects of any business transaction. Verge Legal offers expert advice on the tax implications of buying or selling a business, including capital gains tax, GST, and other relevant tax obligations. We also ensure that all necessary permits and licences are transferred or obtained, and that the transaction complies with local, state, and federal regulations. Our team works diligently to minimise tax liabilities and ensure that your transaction is compliant with all legal requirements.

Business Leasing

If the business you are buying or selling involves leased premises, it is essential to address the terms of the lease in the transaction. Verge Legal provides comprehensive legal services related to business leasing, including reviewing and negotiating lease agreements, assigning leases to the new owner, and ensuring compliance with lease terms. We help you navigate the complexities of commercial leases, ensuring that the transition of the business is seamless and that your rights are protected under the lease agreement.

Frequently Asked Questions

How will you help me?

Firstly, we will reach out to you to gain a deeper understanding of your situation. Subsequently, we will assign a lawyer who will engage in a conversation with you, either through a phone call or an in-person meeting, in order to provide an initial assessment of your case. We will then explain your available options and advise you on the next steps you should take to solve your legal problem.

How long will it take to resolve my matter?

We take pride in having the fastest response times in the industry.

For every inquiry, we guarantee an initial response within 24 hours.

After the initial consultation, you will have a better idea of the timeline for the next steps required.

Which lawyer will I be assigned?

After we receive your initial inquiry, we will allocate a specialist lawyer in the relevant practice area to give you an initial assessment of the matter.

Due to the multidisciplinary nature of our firm, we can assign an expert lawyer to your matter no matter the type or the scale of your matter.

Alternatively, you can request to speak to a particular lawyer.

How much do you charge?

At Verge Legal we have a policy of making full disclosure of all estimated legal fees and disbursements right at the start of each matter.

By law, we are required to give you a comprehensive costs agreement and costs disclosure which will outline how are fees are charged. You can take comfort in the knowledge that there will be no hidden fees or surprises.

We offer fixed fees for certain matters such as conveyancing and transactional deals. For others such as litigation, we generally charge an hourly rate.

We work hard to ensure that our rates are competitive. You can discuss with us a mutually suitable fee arrangement.

I have never worked with lawyers before, what should I know about you?

Before you engage any lawyer you should check that they are listed on the Victorian Legal Services Board (VLSBC) Register of Lawyers.

You can rest assured in the knowledge that we are a fully accredited and insured incorporated law practice and all our lawyers hold current practising certificates.

What they say

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Get in Touch Today

If you require assistance, please contact us today. We pride ourselves on providing clear communication and no-nonsense legal advice. Our dedicated team will ensure that your case receives the attention it deserves.

Step 1

Contact us and let us know your legal problem.

Step 2

We will select the right lawyer based on practice area and expertise.

Step 3

You will be scheduled to meet with the best lawyer for your circumstances as soon as possible.

Step 4

Speak to our expert lawyer who will explain to you the relevant law and list the options available to you.