For further advice and help with your business purchase, contact: http://glennduker.com.au/, for lawyer and solicitor. His experience in business law and transactions will help you through these tricks and traps – or even prevent an expensive mistake.
Avoiding Liability Hangover
in Business Sale & Purchase
with Glenn Duker
Buying a business, just like buying a home, can be a very emotive experience. A
buyer can find themselves swept up in exciting dreams of the future, but the
purchase of the business is just the beginning - there’s a lot of hard work ahead
before those dreams can be realised.
There’s also a lot of work to be done prior to and during the purchase process. Much
of this is concerned with contracts and paperwork. Even if you’re buying a small
business, there’s a LOT of paperwork involved, and as the saying goes, the devil is
in the details. If due diligence isn’t taken before you sign the contract, you could find
your business dreams turning into a nightmare.
It’s absolutely essential that you have a reliable and qualified professional to help
you through this process. This is where the experience of Glenn Duker, lawyer and
solicitor, comes to the fore. Contracts for these transactions can be complicated, and
there are bits and pieces that lawyers are trained to think about that might not even
occur to you.
One such thing, for example, is an indemnity from the seller which defends you
from being sued or penalised because of something they did (or didn’t do) before
you took over the business. Likewise, they should get the same from you.
Or, if the seller is a corporation or LLC, there is another way to avoid possible
liabilities. In this case, you can form a separate company of your own to buy the
assets rather than the business itself.
For further advice and help with your business purchase, contact:
http://glennduker.com.au/, for lawyer and solicitor.
His experience in business law and transactions will help you through these
tricks and traps – or even prevent an expensive mistake.