Business Purchase & Sale

Why use a lawyer?

Business purchase & sale is a complex transaction involving various parties, and usually a substantial amount of money. Using a lawyer increases the likelihood that the transaction will be concluded successfully in the manner envisioned by the buyer and the seller. Doing it right pre-empts later issues which the self-represented parties just did not consider.

If you would like to learn more about business purchase & sale transactions, please don’t hesitate to contact us.

Basic Services

  • Preliminary advice on important initial up-front choices
  • Letters of Intent
  • Asset and share purchase agreements
  • Closing documents
  • Vendor, purchaser, landlord, lender interaction

Additional Services

  • Independent Legal Advice
  • Legal advice on asset and share purchase and sale transactions
  • Manage closing process
  • Deal closing and related matters
  • Leases and tenant-related arrangements
  • Deal with lender and funding matters
  • General advice on structuring of the transaction

Frequently Asked Questions on Business Purchase & Sale

What is Independent Legal Advice and why is it important?
Independent Legal Advice (“ILA”) refers to legal advice given by a lawyer who is not involved in the transaction with the client. ILA is usually required by lenders and other sophisticated parties who want to ensure that their clients are fully informed of the content and consequences of a transaction. ILA should be obtained by any person who is self represented and who is involved in a transaction where all, or some, of the parties are represented by the same lawyer.
Do I buy shares or the business assets?
This question must always be considered, and a decision should be made after consultation with your lawyer and accountant. There is an adage that states that purchasers’ prefer to buy assets and vendors’ prefer to sell shares. To see how this applies to your transaction, speak to our commercial lawyers.
When should I get independent legal advice?
Independent Legal Advice must be obtained as early as possible, even before any formal legal steps are started.