Our solicitors are not only experienced in preparing business contracts, but have developed a rich understanding of business concerns over the years. Various members of our firm have qualifications in commerce, have previously practised as accountants, or are accomplished business people in their own right. Their experience is invaluable when it comes to advising businesses and preparing business contracts. Together, they have acted for some of the eminent business people in the area across diverse industries, from restaurants to agriculture, and can help you do business the way you prefer.
Buying, Selling or Leasing a Business
Each business and the circumstances under which it is bought and sold are unique, and the importance of experience in preparing business contracts cannot be overstated. The manner and form of a business contract can significantly affect a number of things, including:
Taxation, especially GST and capital gains;
Whether the land and equipment is being sold or leased with the business;
Vendor finance terms and conditions;
Apportionment of price and ramifications for depreciation and stamp duty;
Exclusion zones and non-compete clauses;
We can also prepare an agreement to lease the business, including with the right to purchase it later if applicable.
Commercial and Retail Leases, Licenses
A lease or licence is a type of contract and can contain a long list of clauses. Things that need to be considered include:
How long the term of the lease or licence will be;
Whether to include any options to purchase or renew, and if so, how many;
How much rent should be paid and in what instalments;
How the rent should be reviewed and by what measure;
Who will be responsible for any outgoings, such as Council rates, water and sewer charges;
What rights will be granted under the lease and whether they will they be conditional or absolute;
Whereas a lease is usually prepared to rent the entire premises, we can also draw up a licence if only part of the premises needs to be rented out.
Transferring Shares in a Company
We can transfer shares in a company where the company acts in its corporate capacity and where the company acts as trustee for a family or unit trust .
This may be necessary for:
Someone entering or exiting as an owner of a business in a company structure;
A gift in someone’s lifetime;
A bequest as part of a Will;
While very effective at protecting you or your family’s assets against risks such as litigation, trusts are complex, confusing and governed by strict rules. This can be a help or a hindrance depending on the circumstances. We have seen our fair share of trusts which failed to achieve their purpose due to drafting errors. Transferring effective control of a trust ordinarily requires a number of deeds regarding the appointer and trustee, as well as a great deal of care. Whether your concern is a family trust, discretionary trust or unit trust, we can give you the right advice and help you make the changes you need.
Partnership or Shareholders Agreement
In Australia people are free to enter into business together quickly and easily. Unfortunately, these partnerships and companies can often produce problems between the persons involved, especially if the business is successful. The best way to avoid such outcomes and to protect your own interests is to have an agreement in writing. We can draw up an agreement for whatever form your business takes, whether it be a Partnership, Joint venture, Start-up, Company or Trust. A properly drawn up shareholder’s agreement and appropriate constitution can avoid many disagreements.
If your questions still have not been answered, just fill out the form below and we will get back to you as soon as we can. Alternatively, make an appointment and we will be happy to discuss your particular circumstances.