What is a Heads of Agreement and are they legally binding?
This is a follow-up to our previous article – Capital Gains Tax: Timing is everything for a seller What is a Heads of Agreement? A Heads of Agreement, properly...
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Purchasing a Business: Important Things You Need to Know
1 – Undertake Due Diligence As a purchaser of a business, you should conduct an initial assessment of the business to satisfy yourself that it is a viable purchase....
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Do you need a shareholders agreement?
A company’s internal management will be governed by a combination of: the Corporations Act 2001; and the company’s Constitution, if it has one; and the company’s Shareholders’ Agreement, if...
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5 things prospective franchisees should consider when reviewing a Franchise Disclosure Document
1 – Knowledge & Experience Does the franchisor have the knowledge and experience required? You are essentially paying to leverage the franchisor’s knowledge and experience so this is crucial....
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Franchise Disclosure Documents: Everything You Need to Know
The franchising industry in Australia is regulated by the Franchising Code of Conduct. Part 2 of the Franchising Code contains provisions that make it mandatory for all franchisors to...
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The most important provision of a shareholders’ agreement is the exit provision
There can be no doubt that if you are a shareholder and a party to a shareholders agreement, written or verbal, that one day you will exit the shareholders...
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Sell My Business – Always have your business ready for sale!
How do I sell my business? Is your business read for sale? Probably all business owners have some sort of plan as to how they want to retire from...
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Points to consider when selling your business
1. See your advisors early Many vendors leave their run far too late when it comes to involving their professional advisors in the sale process. Your business lawyer can...
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What types of deadlock clauses are used in Shareholder Agreements?
What types of deadlock clauses are used in Shareholder Agreements? A deadlock clause is a provision to resolve a situation where there is a major disagreement (or ‘deadlock’) between...
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Effective Exclusion Clauses in Commercial Contracts: 2 Lessons for Business Owners
A recent decision in the case of LA Rosa v Nudrill WASCA 18 serves as a reminder to all business owners that exclusion clauses in contracts are not...
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