Trust a GLG Legal business sale lawyer

Your business sale lawyers in Brisbane

Appointing a commercial solicitor early in the negotiation and prior to entering into a business contract is advantageous.

At GLG Legal, we can help our clients understand the transferral of assets, such as property, equipment and naming rights, and identify all liabilities, such as leases and creditors, employee entitlements, shareholders' arrangements and more. We also ensure that any intellectual property (such as business names or logos) is dealt with accordingly during the sale process.

Apart from the initial decision to sell, putting together a business sale contract is the most important part of the entire process. There are important steps to undertake before the sale; these include (but are not limited to) reviewing your existing business contracts and agreements. Did you know that creating a pack of documents for potential buyers can also simplify the process and increase the chances of a sale?

A GLG Legal business sale lawyer can assist with business sale contracts, Confidentiality Agreements, and Offer and Acceptance forms – all to provide buyers with greater confidence in your business.

Consideration to have prior to selling a business

The process of business selling requires you to assess and evaluate multiple elements. Business owners who plan on ‘how’ and ‘when’ they want to sell their business often gain the most benefits when selling.

These business owners will often implement strategic plans that ensure their business is in the best condition to earn more profits. By implementing strategies and acting upon legal guidance and the advice of accountancy experts, you will be able to mould your business into one that is more attractive for buyers in the market. As one of Brisbane’s top commercial law firms, we are more than capable of assisting you with these services.

Learn more about selling your business.

Such strategic plans that enable the business purchase to become more attractive to potential buyers may include but are not limited to:

- Creating and marketing a unique product
- Having a strong online presence
- Having a reputation for high-quality goods and services
- Developing plans for business growth
- Having contracts in place with distributors and clients
- Signing short- or long-term leases – depending on your industry and what is considered preferable.

What can you do if you do not want to sell your business?

Selling your business may not always be in your best interests due to a downturn in the market or if your business is not performing as well as it had previously. Some business owners with a strong attachment to their business also might prefer to remain involved in the existing business to some extent.

Our experienced business sale lawyers are able to advise you on the alternative options that are available (if you do not wish to sell), including:

- Restructuring
- Refinancing
- Selling business assets
- Mergers
- Becoming a public company
- Developing exit strategies

What happens when a purchaser wishes to conduct due diligence investigations on your business?

During business purchases, the purchaser will most likely conduct due diligence investigations on your business under the advice of their commercial lawyers.

Prior to the commencement of the investigations, the period of time and what investigations the purchaser will be conducting will be outlined in a Letter of Intent. The due diligence process enables the purchaser of your business to assess whether your business is worthwhile to the purchaser. They will often request access to business records and documents regarding the finance, assets, and operations of your business. As the purchaser will be seeing confidential information about your business, it is important to seek advice from a lawyer who will be able to assist in the drafting of a non-disclosure agreement. This will prevent the purchaser from disclosing information they come across in their investigations to your competitors.

What legal documents are required in a business sale and purchase?

Depending on the size of your business, how it is structured, and how you wish to sell the business – these all impact what legal documents you will require when selling your business.

As many businesses rely upon oral agreements, it is important to ensure that such business sale agreements are drawn up into legal documentation prior to selling your business, as this will provide certainty to the purchaser that such arrangements exist.

Our lawyers at GLG Legal are experts in business sales. We can assist you with preparation of the following legal documents (that you may require include but are not limited to):

– Franchise agreements;
– Employment contracts;
– Leasing arrangements (including leases and sub-leases of both equipment and business premises;
– Contracts with clients and distributors;
– The sale agreement.

Secure your business sale

Partner with GLG Legal’s vast experience as business sale lawyers in Brisbane to navigate every step of your sale with confidence. From due diligence and contracts to special conditions and strategic guidance, we ensure your business is in the best position for a successful transaction.

Valued and trusted by our clients

I worked with Yuna as a first home buyer and have been incredibly happy with the support throughout the purchase process.
Communication has been prompt and comprehensive, with Yuna responding to all of my many questions.
The pricing is affordable and Yuna was very transparent regarding costing from the start. I would definitely recommend GLG legal.

Kiara

Mylee was brilliant as always. Easy stress free transition. Can’t recommend enough!

Nishka Refausse

I highly recommend Mylee On and her team, particularly Linda at the front desk with her assistance regards documentation. They went out of their way to assist. Thanks

Michael Saliba

Highly responsive, quick to act when required, and knowledgeable advice. Thank you Sarah and team.

Paul Sheridan

I found the whole team very efficient at returning phone calls and helping me purchase a commercial premises. They are very well priced and will definitely use again. Highly recommend as they are a pleasure to deal with.

Cyrus Dickie

Great company to deal with, prompt, reliable and efficient.

Stuart Brown

Best solicitors in the business fast efficient and very easy to get along with 100% recommend to everyone.

Corey Bliss

Right from the start, I found Mylee to be very professional, friendly and was always willing to assist with the many questions that I had along the way. Would definitely recommend GLG Legal as a company to help with all your needs.

Marie Atkins

Always Great service and outstanding staff to work with.

Tomas Soner

Outstanding communication.
Cost effective service.
Professionally handled by all employees.

John Coughlan

Mylee was efficient and got the job done with no hassles. She identified a few items I never would've picked up and saved me money too. Highly recommend.

Dat Tran

Very prompt, detail and showed unparalleled care towards us as clients

Morgan Tatterson

This is the second time I have used GLG Legal, and again I found them to be very professional, efficient, friendly, cost effective, and easy to work with. I recommend their services.

Rob Pfeffer

Cathy is an amazing lawyer and really knowledgeable regarding Wills, powers of attorney and succession planning. Highly recommend their service.

Stephen Sulewski

Cathy is amazing, it's rare to meet such a knowledgeable, helpful and kind person, it was a delight. I will definitely be dealing with her again for years to come.

Alex Chernov

GLG acted in a timely manner during the whole process. Any time I had a question, it was answered quickly and helped me make any decisions. The whole process from start to finish, including all the forms, was made easier due to their service. I would definitely use them again.

Ros Ward

Fantastic service! Patient and happy to give detailed explanations and advice. Prompt replies to all emails and telephone calls. More than happy to recommend.

Patricia Hannington

I have recently used GLG Legal for all of our off the plan sales legal requirements. Everything went extremely well and they were always available within short notice to discuss and address any of my queries or concerns.

I highly recommend GLG Legal and would definitely use them again for future projects. Also a special shout out to Roslyn for all of her amazing and hard work along the way!

Malamene

A lovely professional team. We were treated with kindness and care.

Lynne Reid

Exceptional service provided. Went above and beyond my expectations. Highly recommend.

Nicole Jayde

I had a very positive experience with GLG legal. My business sale took many twists and turns and extensions but my solicitor at GLG Legal handled it all professionally and efficiently, keeping me informed along the way and being available when I needed.

Sue Watt

The GLG team are highly professional and super efficient.

Anthony McPhee

GLG Legal provided excellent support and helped solve a complex property settlement. Further ideas were created and detailed explanation given when required to clarify my concerns. Their extensive experience and knowledge of property law in Brisbane was highly evident and gave me added confidence throughout the entire process. Thank you.

Dean Boatman

The team at GLG are excellent. Very professional, knowledgeable and thorough. Roslyn easily simplifies the process and outlines the timeframe required for each step of commercial property.
Highly recommend GLG

Joey Hollis