Commercial and Business Law encompasses the broad legal issues associated with commerce and trade, running a business, consumer transactions and contracts, as well as the formation and management of different business structures and entities, such as companies and trusts.

There are often many steps involved, and many things to consider, when either buying or selling a business. We can help you with:
• Designing and drafting an appropriate Contract for Sale of Business, in consultation with your accountant in order to ensure the best outcome with a view to taxation consequences
• Assisting in negotiations with prospective buyers and sellers
• Reviewing and advising on a Contract for Sale for the purchase of a business
• Advising on Restraint of Trade clauses and the ramifications of breaches
• Verifying ownership of a business and it's constituent
• Effecting the transfer of the business assets, including plant and equipment, book debts, and intellectual property assets
• Reviewing and arranging for assignment of any leases associated with the business (See Leasing for more information)
• Reviewing employment terms of the business' employees, and advising about liability on the part of the client arising from the dismissal or retention of employees
• Ensuring that relevant licenses are effectively transferred to the incoming owners.

Smith Reid are experienced in acting for franchisees, in reviewing franchise disclosures and agreements and acting in respect to all activities in setting up a franchise business.

There are a number of different business structures which you can set up to operate your business. The structure you choose can strongly influence the prospects of success of the business. Some of the available business structures are:
• Sole Trader
• Partnership/Joint Venture
• Company
• Trust

We can help you to understand the differences between each of these structures, the advantages and disadvantages of each, and to ultimately decide, in conjunction with your accountant or financial advisor, which structure is most appropriate for your business. Once a business structure has been decided, we can help to set up that structure, such as by registering your business name, and arranging for the incorporation of the relevant company or establishment of trust.

Contact our office on 9517 1988 to discuss how our Commercial and Business Law services could help you or fill out and submit the following form.