QWhat legal advice do I need when buying a business?
Buying a business is a significant financial commitment. Before signing anything, you need advice on the structure of the purchase (asset sale vs share sale), due diligence on the business assets and liabilities, review of the business contract, assignment of existing leases and contracts, and advice on restraint of trade clauses. We guide you through every step.
QWhat is due diligence and why does it matter?
Due diligence is the process of investigating a business before you commit to buying it. It involves reviewing financial records, existing contracts, leases, employee entitlements, intellectual property, and any potential liabilities. Proper due diligence can reveal hidden problems and protect you from inheriting someone else's issues.
QDo I need a lawyer to review a commercial lease?
Yes. Commercial leases are complex legal documents that commit you to significant financial obligations — often for 5 years or more. We review all terms, negotiate improvements, and ensure you understand your obligations before signing. This is far less costly than dealing with an unfavourable lease later.
QWhat is the difference between a retail lease and a commercial lease?
Retail leases are governed by the Retail Leases Act 1994 (NSW), which provides specific protections for tenants including disclosure requirements, minimum lease terms, and restrictions on outgoings. Commercial and industrial leases are governed primarily by the lease contract itself. Different rules and protections apply to each.
QCan you help if I have a dispute with a business partner?
Yes. Disputes between business partners or co-directors are unfortunately common. We first try to resolve disputes through negotiation or mediation. If that fails, we can commence court proceedings to protect your interests and enforce your legal rights.
QWhat should be in a shareholder agreement?
A properly drafted shareholder agreement covers share ownership, decision-making procedures, deadlock resolution, what happens if a shareholder wants to sell, restrictions on competition, and what happens if a shareholder dies or becomes incapacitated. Without one, disputes can become very costly to resolve.
QHow do I recover a debt from a client or supplier?
We assist with debt recovery from initial demand letters through to Local Court or District Court proceedings and enforcement of judgments. Early action is important — the older a debt, the harder it is to recover. We handle debt recovery efficiently and cost-effectively.