Starting your own business takes significant investment in time, energy and finance. It makes only good commercial sense to ensure that investment is fully protected across the complete lifecycle of your business, from startup to handing over the keys to your successor.
Slater & Gordon’s business structuring and succession services take in the complete legal and financial picture of your business, working closely with your financial advisor to achieve integrated outcomes tailored to meet your needs, not just in the immediate future but also in the long term.
Slater & Gordon can help with:
- Business purchase and sale
- Partnership agreements
- Asset management and protection
- Business creation, exit and succession planning
Business purchase and sale
Nobody wants to buy a lemon. Equally, giving yourself the best chance to achieve top market price is just reward for the sweat and investment it takes to create and build your own business. Long before the ink is signed on the contract, Slater & Gordon will ensure that you are well prepared to maximise the returns on your investments through structured exit planning.
We’ll cover off on all the issues associated with the purchase or sale, from searches and inspections to due diligence, restraint of trade, fair market value and preparing sales documents.
We’ll also liaise with accountants and agents, review financial statements, assist with negotiations and special conditions of sale, and make sure that you’re not contractually bound to unfavourable terms and conditions.
Partnership agreements
It takes more than a handshake to establish a solid partnership agreement. A well-drafted partnership agreement is an important step to not only ensure that friendships and goodwill remain intact but that all parties are appropriately rewarded for their part in the business.
Slater & Gordon will make sure that all the relevant issues are on the table, up front and early, so that everyone is aware of their future obligations and responsibilities. We can advise on matters such as partner equity, roles and authority, profit entitlements, asset distribution on dissolution, capital withdrawal, retirement or death arrangements and dispute resolution.
Asset management and protection
Nobody can predict the future. But good asset management and protection adds up to peace of mind not just on a day-to-day basis, but also in the event that unforeseen circumstances strike your business.
Slater & Gordon can help to ensure that you have every element of asset management and protection for your business covered off.
We’ll establish financial structures such as trusts to ensure tax-effective distribution of profits and that business assets are shielded from the risk of litigation in separate trading entities. We can advise and assist you to implement systems and documentation to protect your assets, from trade mark registration through to obtaining security to protect unpaid debts.
Business creation, exit and succession planning
Good planning is fundamental to business success and smooth sailing, not just when starting out but also in preparation for succession and the inevitable day you hand over the keys to your business to somebody else.
Though it’s likely to be the last thing you think of when starting out, planning for the day you leave your business is just as important as the effort that goes into creating it. Slater & Gordon can help to ensure that the right structures are in place to manage risk and protect the future capital potential of your business.
Whether you’re planning to pass the business on to family, or sell up and retire, we’ll ensure that all the legal and financial implications have been addressed well in advance and that your hard-earned asset is fully protected for the long term and free of last-minute surprises, for you and your successors.