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Business sale lawyers

Are you venturing into buying or selling a business? It’s a complex journey, where going solo spells risk. Our team of experienced business sale lawyers can help you navigate this intricate and complex undertaking.

We are more than just legal advisors; we’re your strategic partners. Our team regularly advises on navigating the intricacies of business transactions. From unravelling trade restraints and protecting goodwill to handling valuation of stock and employee entitlements, we have the knowledge to support you in all scales of business mergers and acquisitions.

Our role in such matters is straightforward: to minimise risks, protect your interests, and steer clear of legal pitfalls. With us, your journey to a successful business transaction does not happen by chance – it’s carefully planned and supported.

perth business lawyers supporting buying or selling a business

Streamline your sale, secure your success

Navigating a business sale? Let our business sale lawyers be your guiding force. Here’s how they can make a pivotal difference:

  • Deal structuring: Tailoring the terms of your purchase or sale for maximum benefit. We ensure it’s efficient and favourable to you.
  • Due diligence mastery: Rigorous checks and balances to safeguard your interests in every aspect of the sale.
  • Legal clarity: Demystifying legal jargon. We provide clear, concise guidance through complex legal terrain.
  • Risk reduction: We proactively identify and mitigate risks, protecting your investment and future.
  • Negotiation prowess: We leverage our negotiation skills for terms that align with your goals.
  • Seamless transactions: Smooth, efficient transaction processes, saving you time and stress.

We’ll guide you through critical transitions

The sale or purchase of a business is a pivotal moment. Our experienced business sale lawyers can steer you through with unmatched knowledge and commitment to your success.

Our team can:

  • Review business broker heads of agreement and selling agreements
  • Undertake due diligence
  • Negotiate with potential purchasers and sellers
  • Advise on securing finance
  • Prepare non-disclosure and confidentiality agreements
  • Structure the sale – whether sale of assets or sale of shares
  • Advise on appropriate business structuring
  • Draft, negotiate and review contracts
  • Advise on restraints of trade
  • Arrange and negotiate transfer or assignment of leases
  • Arrange and negotiate transfer or assignment of contracts and licences
  • Discharge and registration of PPSA and PPSR security interests and guarantees
  • Assist with ongoing advice after settlement

Our client testimonials

From individuals to families, from startups to large corporates, professional groups to charitable foundations - we've stood beside a diverse range of clients helping them best navigate their legal journeys. Here’s what just some of them have to say.

Review for Morgan Solomon

Morgan Solomon

"What we appreciated most about working with Morgan Solomon was his extraordinary ability to absorb and process information on his feet and cut through peripheral issues. A good lawyer needs to remain calm, collected and outcome focussed throughout a tough negotiation. Morgan ticked all of these boxes, and more. He’s also a wonderful guy and really easy to work with."
The privacy of our clients is important to us, but should you wish, we’re more than happy to provide client first names behind each of the testimonials upon request.
Review for Brandon Hetherington

Brandon Hetherington

"Brandon and the team and SHL were excellent to deal with. Their advice was clear and articulated in a manner that I could understand. They worked to some critical deadlines that I had which was very important. I would highly recommend and will certainly use their services again in the future. I would like to recommend Brandon Hetherington, Brandon has been amazing. Without his professionalism I probably would of going crazy. He explained everything in layman terms, which was great. Thanks once again, if you need a lawyer this is the place to go."
The privacy of our clients is important to us, but should you wish, we’re more than happy to provide client first names behind each of the testimonials upon request.
Review for Morgan Solomon

Morgan Solomon

"This firm is friendly, helpful and accessible - from the first person that answers the phone, they make you feel welcome and at ease. I had a consultation with Morgan Solomon and cannot recommend him highly enough. His early advice, for which I am incredibly grateful, has most likely saved me from a lengthy and expensive legal battle and many sleepless nights worrying about my situation. Morgan is not only an expert in his field, he is excellent at explaining applicable laws and the pros and cons of different courses of action to his clients. Thank you, Morgan, and everyone at Solomon Hollett Lawyers."
The privacy of our clients is important to us, but should you wish, we’re more than happy to provide client first names behind each of the testimonials upon request.
Review for Andrew Bower

Andrew Bower

"Andrew Bower represented me in a very messy business partnership dispute. Andrew’s professional conduct, court mannerisms and high quality of work was amazing! His knowledge of the legal system and attention to detail gave me peace of mind every step of the way. The last 12 months have been a stressful legal roller coater ride and in December Andrew put a successful end to that chapter. I would highly recommend Andrew and I cannot thank him enough. Andrew Bower from Solomon Hollett law firm is an extremely professional, knowledgeable, pro active lawyer that owns the client's problem, and do everything possible to help the client succeed with great care, loyalty, passion and dedication. Strongly recommended. Andrew's professional advice and guidance has saved our business thousands and a lot of heartache. Highly recommend Andrew and Solomon Hollett Lawyers."
The privacy of our clients is important to us, but should you wish, we’re more than happy to provide client first names behind each of the testimonials upon request.
Review for Craig Hollett

Craig Hollett

"I recently employed Craig Hollett when my partner required defence in a complex criminal matter. From the outset of this very difficult journey, Craig’s professional and approachable manner put me at ease. Navigating foreign legal processes was incredibly unnerving, but Craig’s extensive knowledge and patient explanation made the experience far less daunting. Craig was always available to me when I required advice and guidance, which made me feel as though there was someone I could trust in the midst of a great deal of turbulence. Although he was kind and reassuring, Craig was straight down the line and made sure I was fully aware of all possible outcomes, even when it was not what I wanted to hear. The compassion and genuine concern he showed was extraordinary, as was his unwavering performance in court. With Craig’s guidance, we were able to obtain the best outcome we could expect, and I will be forever grateful to him. I could not be more pleased with the service that Craig provided and would not hesitate to recommend him."
The privacy of our clients is important to us, but should you wish, we’re more than happy to provide client first names behind each of the testimonials upon request.

Discover the Solomon
Hollett difference

Personalised legal solutions

We understand what you’re facing. Your situation is unique and no doubt nuanced so we tailor our legal strategies to align perfectly with your personal circumstances, guiding you with compassion and precision every step of the way.

Comprehensive legal knowledge

Rest assured that you're in very capable and experienced hands. Our extensive expertise across diverse legal arenas ensures that we're equipped to guide you through your most pressing legal challenges and opportunities, from estate planning and administration to inheritance disputes, commercial law to business disputes.

Client-centric approach

Your peace of mind matters to us. We prioritise clear communication and steadfast support, focusing on securing outcomes that restore your calm and confidence.

Proven track record

Count on us to stand by you. Renowned for our commitment to excellence and a legacy of success, we're here to protect and enhance your interests with proven strategies that work.

Accessible and timely legal services

We're here when you need us. With responsive service and flexible scheduling, we make sure you receive legal guidance promptly, accommodating your needs and easing your stress during critical times.

Transparent and up front

We're up front about the cost of what we do so you know what you are committing to. We’re also focused on the proportion of the fees to the value of the matter - so the return on your investment is easy to ascertain from the get go.

Commercial disputes and how we can help

Book your free 15 min consultation

Discussing your situation over the phone is often the best way to start, and we’re pleased to offer all new and existing clients a free 15 minute phone consultation for every new matter. It’s a great opportunity to let us know more about the assistance you’re looking for, clarify your situation and walk you through how best we can help and what’s involved.

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Contact us now to discuss your case

Discussing your situation over the phone is often the best way to start. Contact us directly to let us know more about the assistance you’re looking for, clarify your situation and walk through how best we can help and what’s involved.

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Frequently
asked
questions

Can’t find what you are looking for?

What should I consider when buying or selling a business?

How you buy or sell a business may have significant legal and tax implications. Typically, a purchase or sale usually involves a transfer of business assets and its existing operations, or transfer of the shares of the company operating the business.

We recommend both buyers and sellers consider the following matters before agreeing to buy or sell a business:

  • Warranties and liabilities: what warranties and liabilities are attached to the proposed transaction? Is the seller solvent? Does the seller have the appropriate legal right, title and interest to sell the assets? Is the seller in breach of any liabilities? Will the seller continue to operate the business in an appropriate manner between signing the contract of sale and completion of the sale?
  • Restraints: How will the goodwill and customer base be protected? How will existing supplier networks be preserved? Is the seller willing to give the undertakings that the seller requires? How long will any restraints apply? Are the restraints reasonable in the circumstances? What happens to the employees and their accrued entitlements?
  • Security interests: Do any third-party security interests need to be altered or discharged? Does the vendor need to take their own security over the business to ensure they are paid any portion of the purchase price they are financing (often called vendor finance); if so, what sort of security is appropriate?
  • Approvals and consent: Are any approvals or consents to the proposed sale required? Is an existing contract or licence key to the viability of the business? Can the benefits or burdens of that contract be assigned? Is regulatory approval required? Are there any licences that need to be transferred? Can an existing licence be assigned, or is a new licence required?
  • Pre-conditions: Are there any pre-conditions to completion that must occur, or are desirable and should be negotiated?
  • Guarantees: Has the seller and/or its director(s) given personal guarantees that need to be discharged? These are often given to not only to financiers, but also trade account suppliers.

There are so many possible unique considerations for selling or buying a business and it is vital good legal advice is taken as early as possible in the sale or purchase, and preferably before a deal is even struck.

How can a lawyer assist in the business sale process?

Our business sale lawyers can:

  • Advise on legal matters
  • Prepare and review essential documents
  • Negotiate sale terms
  • Ensure all activities adhere to appropriate standards

Their role is pivotal in structuring the deal to align with acceptable legal standards and client interests.

What is due diligence, and why is it important in a business sale?

Due diligence is a thorough investigation and evaluation of a business’s financial, legal, and operational state. It’s critical to understand the true value of the business and to identify any hidden liabilities or risks that could affect the sale. While we can’t help with financial due diligence or business valuations, we are more than happy to assist with legal due diligence.

How are business valuations and sale prices determined?

Business valuations are based on a careful analysis of the business’s financial records, market position, physical and intangible assets, and projections of future earnings. It will usually involve financial experts and appraisers to ensure a fair and accurate valuation.

What are the common pitfalls in selling a business and how can they be avoided?

When clients come to us with an issue or business dispute, we usually see the same common issues. Generally, insufficient due diligence or ineffective contract negotiations are often to blame and can lead to unfavourable sale terms or unforeseen liabilities.

The risk of such issues and disputes can be minimised with proper preparation, strategic planning, and delivering knowledgeable legal and financial advice before a deal is concluded.

How do I handle contracts and negotiations during a business sale?

Effective contract management and negotiation require a deep understanding of the business’s value, strategic use of legal terms, and a clear negotiation strategy to protect your interests and achieve favourable terms. These are all things we can help with.

What are the tax implications of selling my business?

The tax impact of a business sale can be complex, involving capital gains tax, income tax implications, and other tax liabilities. Professional tax advice is essential to understand and plan for these implications.

How long does the process of selling a business typically take?

The time frame for a business sale can vary widely, depending on its size, the complexity of the transaction, market conditions, and the efficiency of the negotiation and due diligence process. Ultimately, the parties are free to negotiate whatever time frames they wish to agree.

What is the role of confidentiality in business sales?

Maintaining confidentiality is crucial to protect sensitive information about the business, its operations, and its financials. We understand how important this confidentiality is and protect your information at all costs.

Can you represent me in disputes arising from a business sale?

Yes, we can. If a dispute arises, such as disagreements over the terms of the sale, breaches of contract, or issues related to warranties and representations made during the sale process.