What issues may I face with business/company sales?
If you are looking at selling, there are a number of matters you need to consider. Example of some are: which employees are being kept, which ones will be made redundant. Are there any long service leave entitlements that you need to consider, do you have any employees currently on long term leave that you need to think about.
How can you plan to minimise any issues from business or company sales?
The best thing to do is to know what you want from the sale/purchase. It is always a good idea to speak to a lawyer so you can understand any legal requirements you may have with the sale.
How can you plan to minimise any issues from business or company sales?
The best thing to do is to know what you want from the sale/purchase. It is always a good idea to speak to a lawyer so you can understand any legal requirements you may have with the sale.
How do our employment lawyers help you?
We can assist you in a variety of ways. We can provide advice before you purchase a company, after you purchase a company, before you sell a company or after you sell a company. Our advice would vary and we would always recommend that our clients contact us before they do something, but we understand sometimes that is not possible. We can also assist with negotiating terms for business/company sales if you are still in the early stages.
Frequently Asked Questions
I need to sell my business in 6 months, what do I need to keep in mind when it comes to my employees?
You should get, among other things, all your employee records in order, make sure that you have a good idea as to your liabilities in relation to your employees.
I recently bought a business but I do not want to carry over the employees, do I need to or can I let all of them go?
It depends on what is in the agreement when you purchased the business. If you are going to fire everyone because you want your own people then you may have issues with unfair dismissal, general protections or discrimination among other things.
I want to buy a business but I want to negotiate the terms further, how much can I negotiate before I am being unreasonable?
It is probably a good idea to consider this