PM Lee & Co has specialised in business acquisitions and sales since its inception.
Unlike real property, the value in a business is largely intangible in the form of goodwill. Also unlike real property a business is a bundle of legal rights and assets which all operate in harmony to produce the business profit.
It follows, that in order to acquire the business as a going concern we must capture all of those parts and ensure that they will continue to operate in harmony under the new ownership.
This takes a great deal of experience and knowledge in property and contract law. Our lawyers are trained in identifying and capturing all of the rights and entitlements you need to run the business, and ensure they are effectively transferred at settlement.
Our services include:
Reviewing the business itself and all important documents including:
- The Lease
- Any franchise or licence
- Any trademark and intellectual property agreements
- Key employee contracts
- Key supply agreements
Until recently there was no central register for business assets and encumbrances. This was meant to be rectified by the Personal Property Securities Register. However the legislation is not well drafted and an extensive knowledge of the laws and how to properly search the register (including all possible entities) is essential. Even then, there can still be problems arising from trust claims, retention of title claims, leases, copyright, and IT issues, that can interfere with apparently good title.
It is our experience and our comprehensive checklist procedures and documentation which ensure you get good title to all of the assets you need to carry on the business.
For those interested, please read on:
Buying a business – Tricks & Traps
Please call Peter Lee or Eugene McAuley on 07 3186 6666 or email firstname.lastname@example.org if you have any enquiries.