Business Structures and Asset Protection

CLO Lawyers will work with you and your accountant to advise on the structure best suited to your situation having regard to the advantages and disadvantages of each structure, and your tax position, personal legal liability and availability of capital.

Importantly, we will advise you about asset protection techniques to protect your assets from creditor claims.

There are four main business structures commonly used by small business in Australia:
  • Sole Proprietor :

    Owned and run by an individual
  • Partnership:

    Arrangement of people to cooperate but not as a separate legal entity
  • Company:

    Body corporate which is a separate legal entity from its shareholders
  • Trust:

    Holding assets for the benefit of one or more persons.

Setting Up a Business

CLO Lawyers can tell you what you need to know when starting your own business. We will provide you with guidance on a range of matters including the importance of choosing a recognisable business name, deciding on the right location, funding options, business structure choice, insurance issues and the basis for engaging workers in the business.

Buying an Existing Business

When buying a business, serious negotiations usually commence with an agreement in principle that is followed by your solicitor conducting due diligence.

As part of the due diligence process, CLO Lawyers will examine the business in detail to ensure that it is not overvalued and there are no unexpected surprises after settlement. This process includes checking business records such as licences, permits and registrations, plans and operations, financials, meeting minutes and intellectual property of the business.

Do not sign a contract without first seeking legal advice, or, if you feel you want to seal the deal, make sure the contract is subject to your solicitor’s approval with a full refund of the deposit if the purchase does not go ahead.

Selling Your Business

CLO Lawyers can help you manage the countless variables associated with a business sale, providing valuable pre-sale advice to help you map out the best plan and timing for the sale.

CLO Lawyers will get you sale ready. Amongst other necessary transactions, we will prepare and review the Contract for the Sale of Business, assist with negotiations where required and arrange for the transfer of applicable leases, intellectual property and business names.

Commercial Conveyancing

Whether you are new to commercial property or a seasoned investor, the buying and selling process can be fraught with risk and expense unless you’ve received the right advice before signing any contract. You need the services of an experienced business lawyer who asks the right questions, understands your business goals, and can negotiate through potential opportunities and legal challenges. CLO Lawyers have the foresight and experience to identify issues before they arise and the knowledge to offer effective solutions to solve them.

The CLO Lawyers business law and commercial property team has significant experience in rural property transactions (including water rights), commercial property (hotels and motels), subdivisions, and both retail and industrial property.

With CLO Lawyers you’ll be in safe hands and get the right advice on buying and selling commercial property.

Leasing

There are many things to consider before entering into a lease agreement for commercial property in Toowoomba.

The lease

The lease document is a contract outlining the terms of possessing a property for a specified time at an agreed fee. There are some differences depending on the type of business, where you are located and the length of tenancy. Confusion often revolves around rent increase and renewal clauses, therefore a legal requirement exists for your solicitor to explain the lease to you.

For your protection and to minimise litigation and disputes, have CLO Solicitors thoroughly check the lease before you sign.

Terms of the lease

The terms of a lease are negotiable so it is important that you have your solicitor review the lease to be sure the terms are fair. Consider the following:
  • Duration of the lease and right to renew or end the lease before it expires
  • Formula for calculating and reviewing the rent
  • Rights to end the lease if the premises are damaged or destroyed
  • Limitations to your ability to transfer or assign the lease if you decide to sell, and the expense of doing so (transferring a lease may still leave you with some liability for the rent)
  • Responsibility to pay for rates and taxes, outgoings, such as garbage, air conditioning, marketing (signage) and all the additions, improvements, and fixtures made during the lease
  • Types of insurance required, who will pay for it and who obtains it.

Retail shopping centre leases

If you are renting premises where five or more shops are in one title, terms for retail business leases apply. The Retail Shop Leases Act 1994 restricts terms, such as rules for opening hours and products that can and cannot be sold. It may also impose promotion and advertising costs on lessees.

We Listen. We Deliver.

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Be in safe hands with commercial property leasing.

Contact Us

Be in safe hands with commercial property leasing.

Contact Us

Be in safe hands with commercial property leasing.
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