Business Law / Leases
At Nicholas George Lawyers our solicitors are well equipped to deal with a range of business law matters including the sale and purchase of businesses, preparing both commercial and retail leases for landlords and reading and advising prospective tenants on Leases and negotiating amendments to Leases on behalf of tenants. We are also able to draft employment contracts and consultancy agreements and provide advice on employee contracts and employee rights and entitlements.
When purchasing a business there are many factors to consider including thoroughly assessing any lease which is already pre-existing. This will normally form part of the sale of business agreement. It is also important to have appropriately drafted clauses in the agreement to ensure that a purchaser is not exposing themselves to any pre-existing liabilities of the business including any employee entitlements that the previous owner is liable for. Caution therefore needs to be taken that these are not passed on with the sale of the business. Other matters to consider include taxation issues such as whether the sale is the sale of a “going concern” and is therefore GST free or whether GST must be added to the purchase price. Stamp duty and Capital Gains tax are other taxes which require advice and consideration.