Business
Make it easy
So you can devote your time to your business
Whether you are setting up a new business, planning to buy or sell a business or looking for advice on a commercial agreement, the team at Novum Law Group can guide you through the process. We aim to make it as easy as possible so you have more time to devote to your business.
Our expertise
Business Formation & Structuring
If you are starting a new business or looking to restructure, we can assist you with selecting and setting up the most appropriate structure. These can include sole trader, partnership, joint venture, company, trust or franchise. We can assist you with:
- Advice on appropriate business structure
- Registering a company
- Registering an ABN and tax file number (TFN)
- Business name registration
- Searches on availability of company and business names
- Trademarks and domain names
- Partnership Agreements
- Shareholder Agreements
Buying or Selling a Business
We ensure that the contract is appropriate for your business and that all relevant steps are taken to ensure that all business assets are transferred. We can assist you with:
- Contract for Sale of the business
- Negotiations between buyers, purchasers, and brokers
- Transfer of ownership of assets
- Due Diligence
- Specific assets to be transferred such as a liquor licence
- Confidentiality agreements
- Relevant warranties and restraint clauses
- Transferring or assigning a retail or commercial lease
- Franchise agreement advice and review
- Business Contract review and negotiation
Commercial or Industrial Property
You can rely on us for expert advice for your commercial and industrial property needs, including buying, selling, leasing and resolving disputes. We can assist you with:
- Sale and purchase of commercial and industrial property
- Retail and commercial leasing for landlords or tenants
- Due diligence and regulatory compliance related to retail and commercial leasing
- Registering securities on the Personal Properties Securities Register (PPSR)
- Advice on covenants, easements, licences and encroachments
- Advice related to liquor licences when selling, buying or leasing property
Finance & Tax
We draft, review and advise on loan agreements, guarantees or mortgages to ensure that the agreement is appropriate for you and you understand the risks and obligations. We can assist with:
- Loan Agreements
- Guarantee and Indemnity
- Mortgages
- Obtain advice in relation to GST, Capital Gains Tax and Land Tax
General commercial
Business Formation & Structuring
If you are starting a new business or looking to restructure, we can assist you with selecting and setting up the most appropriate structure. These can include sole trader, partnership, joint venture, company, trust or franchise. We can assist you with:
- Advice on appropriate business structure
- Registering a company
- Registering an ABN and tax file number (TFN)
- Business name registration
- Searches on availability of company and business names
- Trademarks and domain names
- Partnership Agreements
- Shareholder Agreements
Buying or Selling a Business
We ensure that the contract is appropriate for your business and that all relevant steps are taken to ensure that all business assets are transferred. We can assist you with:
- Contract for Sale of the business
- Negotiations between buyers, purchasers, and brokers
- Transfer of ownership of assets
- Due Diligence
- Specific assets to be transferred such as a liquor licence
- Confidentiality agreements
- Relevant warranties and restraint clauses
- Transferring or assigning a retail or commercial lease
- Franchise agreement advice and review
- Business Contract review and negotiation
Commercial or Industrial Property
You can rely on us for expert advice for your commercial and industrial property needs, including buying, selling, leasing and resolving disputes. We can assist you with:
- Sale and purchase of commercial and industrial property
- Retail and commercial leasing for landlords or tenants
- Due diligence and regulatory compliance related to retail and commercial leasing
- Registering securities on the Personal Properties Securities Register (PPSR)
- Advice on covenants, easements, licences and encroachments
- Advice related to liquor licences when selling, buying or leasing property
Finance & Tax
We draft, review and advise on loan agreements, guarantees or mortgages to ensure that the agreement is appropriate for you and you understand the risks and obligations. We can assist with:
- Loan Agreements
- Guarantee and Indemnity
- Mortgages
- Obtain advice in relation to GST, Capital Gains Tax and Land Tax
General commercial
FAQ's
Some of the key considerations include the financial health of the business, existing contracts, and any legal obligations. It is also important to consider the licenses, permits, and regulatory compliance required to run the business and to check for undisclosed disputes or liabilities. Seeking financial, taxation and legal advice and undertaking exhaustive enquiries and due diligence will help you identify potential pitfalls and develop strategies to mitigate risks.
Valuing a business involves assessing its assets, financial performance, and market potential. You should consult a business valuer or broker who can provide insights to ensure a fair and accurate valuation and therefore ensure the price set for the business is right.
What business structure you choose, whether it’s a sole trader, partnership, company, or trust, has legal and financial implications including risk and asset protection, tax ramifications and cost of tax compliance. Accordingly, it is important to understand what the pros and cons are of each structure type and choose the right one for your circle.
It is often advisable to select an experienced business broker who can assist you to market and negotiate the terms of sale. You must get a lawyer to prepare a comprehensive sale of business contract that complies with relevant regulations and that protects your interest. The sale of business contract must deal with various matters such as a transfer of the lease (if any), employee obligations and provide for a smooth transfer of the business assets to the new owner such as plant and equipment, equipment leases, business name, material contracts and licences.
You must have a clear and well-drafted partnership or business agreement. These should be negotiated and drafted to protect your interests, outline responsibilities of the parties, and set out dispute resolution mechanisms should disputes arise during the transaction.
Compliance with local laws, licenses, and permits relevant to the business you are looking to operate is essential. These will differ depending on the business you are operating or looking to buy. Seeking guidance on regulatory requirements ensures that your business operates legally, avoiding penalties and disruptions.
