Bruce Scott Muller Law are experts in Commercial Law. We have expertise across a broad range of business matters. We can help you set up in business, help you ensure that you are compliant, draft or review and advise on a range of contractual matters, and provide advice that supports your decision-making.
Among the first few decisions that you will need to make when going into business is “what structure will best suit what it is that I want to do?”
There are very good reasons for choosing to trade in your own name, form a company, go into partnership or a joint venture. With your goal in mind, we can help you choose and set up the structure that will best serve your interests.
Buying a Business or Buying Shares in a Business
There are a number of things to investigate when considering the purchase of an existing business. Just a few of them are- “does the agreement correctly include all of the assets? Is the price fairly spread across the plant and equipment, goodwill and stock? Is the lease in order and how many rights of renewal are there?”
When purchasing shares in a company owning an existing business, as opposed to just buying the business, generally, you take on all existing liability, including anything that has not risen to the surface yet. For either kind of purchase, a good investigation of the matter is required.
There is a long list of compliance and consumer protection regulations covering everything from the appropriate licences for your business, staff and vehicles, through to Fair Trading, Consumer Guarantees and Privacy. We can help guide you through the processes of being and staying compliant.
In conducting your business, you will need to enter into contracts for the supply or sale of goods or services. You will likely need to enter into a lease of premises or equipment.
As the business grows it may acquire, merge, or be acquired by another business. We have expertise in each of these areas to assist you through the process.
Through the Personal Property Securities Act 1999, your lender may require you to grant a charge over the assets of your business, or just a certain asset such as a machine or a vehicle. The charge is registered on the Personal Property Securities Register. It is like a mortgage over your movables.
A franchise can be your own business that enjoys the rights to use a well-recognised brand name to promote the sale of your goods or services.
Buying a franchised business has more to it in terms of continuing obligations than most other business purchases. It is important that you are fully aware of the continuing obligations.
If your clients or customers are not paying your account, either because they can’t pay or can pay but choose not to, we can help you decide how best to proceed to obtain payment or an arrangement for payment.
Selling a Business
From a legal perspective, getting your business ready for sale includes ensuring that all of your contractual obligations are properly documented and up to date. That your tangible and intangible assets are all listed in full and you know how much stock you have on hand when asked.
You should anticipate that a prospective purchaser will ask to see your lease, any employment agreements and probably your key supplier contracts and contracts for you to supply goods or services to your customer.
Any hand-shake deal in place with you that is not documented, may be seen as likely to disappear when you do document it and that could weaken your asking price.
Contact Bruce Scott Muller Law For Commercial Law Services in Auckland
For friendly and professional advice from an experienced lawyer get in touch with Bruce Scott Muller Law to arrange a consultation and to discuss your requirements. Give us a call now, or send us a message and we will get back to you as soon as possible.
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Bruce Scott Muller Law
One of the oldest established law firms in Auckland's Eastern Suburbs. Located in Ellerslie, and serving a wide area including Pakuranga, Manukau, East Tamaki, Mount Wellington, Mangere, Ellerslie, Remuera and beyond.
A law firm that's big enough to meet your legal requirements, but small enough to care!
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