It is an exciting time, you are wanting to buy a business! You are keen to get started as soon as possible. However, it quickly becomes apparent that there is lots of paperwork to complete, confusing contractual terms to understand and a regulatory framework which is complex. This is when you need a business lawyer.
How can a business lawyer assist you?
- A business lawyer can analyse any proposed contract you plan on entering and provide you with advice as to whether certain terms need to be amended or excluded prior to you signing up.
- A business lawyer can provide advice about how best to structure your purchasing entity: whether that be in a partnership agreement, a proprietary limited company or a trust. By obtaining this advice at the outset, it will provide you with the best structure tax-wise and protection from third parties who may come to sue you.
- A business lawyer can provide assistance in determining whether any assets you are buying are listed on the Personal Property Securities Register (''PPSR''). The last thing you want is for your business to acquire assets only to realise after the fact that another company has a registered interest in certain goods. For more information, refer to our article on the PPSR.
- A business lawyer, should be able to provide you with pragmatic commercial advice rather than just legal advice.
- From the outset, you can establish a business relationship with an experienced business lawyer who can journey with you in the long term and assist with business or legal issues, as may be needed.
How can Sharrock Pitman Legal help you?
At Sharrock Pitman Legal, we are accredited commercial law specialists and so can competently advise you in a timely manner about any business law venture you may have or any issue you may have encountered. You can be assured that we have assisted businesses of all sizes in a wide variety of industries. We are the lawyers for you to turn to for commercial law.
You may not want to incur the short term cost of engaging a business lawyer. However, the short term expense will be worth every cent if it avoids long term problems which might become expensive and time consuming. Think of engaging a lawyer at the outset as an investment. It is much more cost effective to set your business affairs up well, rather than to engage lawyers after something goes wrong.
Call us at Sharrock Pitman Legal 1300 205 506 or complete the form below. We will always be:
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The information contained in this article is intended to be of a general nature only and should not be relied upon as legal advice. Any legal matters should be discussed specifically with one of our lawyers.
Liability limited by a scheme approved under Professional Standards Legislation.
For further information contact
Mitchell is the Managing Principal of our law practice.
He is an Accredited Specialist in Commercial Law (accredited by the Law Institute of Victoria). He also deals with areas of Employment Law, Wills & Estate Planning and Probate. For further information, contact Mitchell on his direct line (03) 8561 3318.