Ready to buy your dream business?
Before you dive in headfirst, there are important steps you should take to protect your interests. A Business Purchase Agreement is a must-have to clearly define the terms of your agreement in black and white. You need to make sure both parties are on the same page and there are no inconsistencies which could throw a spanner in the works further down the track!
What You Get
How do I know what is included in the purchase?
A Business Purchase Agreement covers everything that is included in the purchase of a business. This includes the purchase price, the full list of assets which are included, intellectual property and other important inclusions. The contract will also cover relevant warranties, a restraint clause, training after handover, existing leases and/or liabilities.
Basically, anything relevant to the purchase of the business should be covered by the contract. If it’s not in the contract, bad luck!
Frequently Asked Questions
A Business Purchase Agreement is a legal contract which sets out the terms of sale. The contract is used to transfer the assets of the business from the seller to the buyer for an agreed purchase price.
The Business Purchase Agreement covers all of the important conditions of the purchase, including things like stock, training, employees, superannuation, contracts, and equipment. It also includes warranties and guarantees, restraint, confidentiality, and dispute resolution.
Every situation is different, which is why you need expert advice from a commercial lawyer. We’re small business specialists, so you know you’re in safe hands with us.
We’ll consider your unique situation and let you know if we think this is right for your business.
Our head office is at Inspire Cowork – a coworking space in Sydney – but we also support flexible work for our team. Our lawyers can work from anywhere.
We use technology to come to you, wherever you’re located around Australia. Many of our clients work from home or at coworking spaces, just like us.
We communicate with our clients via phone, email and Zoom – whatever works best for you. There’s no need to meet face to face, but if you’re ever in the area you’re welcome to drop in!