Business & Commercial Law
Owning and running a business can be rewarding and you will likely face many challenges and opportunities along the way. Obtaining sound legal advice to ensure you and your business are best positioned to face any legal issues that arise is critical. Our experienced commercial law team can help with a range of business matters including:
- Creating business structures
- Business succession planning
- Buying and selling a business
- Commercial property transactions
- Commercial and retail leasing
- Liquor licensing
- Franchise disputes
- Consultancy agreements
- Debt recovery
- Dispute resolution, negotiation and mediation
- Court representation
Helping you Choose a Business Structure
We can help you choose a business structure that best suits your personal circumstances and your business needs. This will generally take into consideration the size and type of business, your plans for future growth and an assessment of the associated personal risks.
Sole traders can set up and run a business using an Australian Business Number (ABN). You can apply for an ABN through the Australian Taxation Office. While this is an easy structure to set up, it is important to understand that a sole proprietor is legally and financially responsible for all aspects of the business and does not benefit from some of the protections that a registered company may offer.
A proprietary limited company can be registered with the Australian Securities and Investments Commission. Once formed, the company has its own separate legal identity, may enter contracts in its own name, and can provide some level of protection from personal liability for its directors and shareholders.
A partnership may be suitable when more than one person becomes involved in and contributes to the endeavours of a business venture. A downside is that all partners will usually be jointly and severally liable for debts incurred through the partnership and there is the potential for conflict between partners. A partnership agreement is essential to govern how the partnership operates, arrangements for profit sharing, termination, retirement, handling disputes, or sale of the business, etc.
Trusts can assist with asset protection and may provide tailored solutions when it comes to income tax and capital gains. Trusts are complex however and must be compliant and properly managed to ensure they deliver the anticipated outcomes.
Buying or Selling a Business?
If you are thinking about buying or selling a business, we recommend obtaining independent legal advice. You will need to ensure that the agreed terms and conditions are properly documented in the contract and that any incidental agreements required for running the business (for example, commercial leases or service agreements) are suitable and transferrable to the new owner.
It can be beneficial to consult your accountant during a business sale and purchase transaction to ensure that the financial aspects are also covered. Your professional team can help structure the transaction to provide an optimum outcome and to protect your interests.
Commercial and Retail Leases
If your business occupies commercial premises, chances are you will need to enter into a commercial or retail lease. When you have found the right premises for your business the letting agent will usually provide a letter of offer or intention for you to sign. Do not sign or pay any deposit unless the offer clearly states that it is subject to a solicitor’s approval of the lease with a full refund of the deposit if the lease does not go ahead.
Similarly, if you own commercial or retail premises that you rent to somebody running a business, you will want a carefully drafted lease to protect your investment. If the premises is deemed ‘retail’ under retail leasing legislation the arrangements will be governed by specific laws, and you must comply with certain disclosure obligations.
A hassle-free lease contains all relevant terms and conditions and clearly identifies the parties’ respective rights and responsibilities. Leases for commercial premises are usually prepared by the landlord’s solicitor and the legal costs for preparing a retail shop lease are paid by the landlord. Typically, in all other cases the lease preparation costs are paid by the tenant.
We can help with:
- Acting for Small Business Owners as Tenants
- Negotiating Lease Agreements and Finalising Lease Documents
- Retail Shop Leases and Disclosure Statements
- Retail Shop Lease Mediation and Tribunal Representation
Business and Commercial Contracts
Debt Recovery
Regular cashflow is essential for your business, but chasing unpaid debts is a major time and money waster for owners and managers.
There are different strategies to use to recover an unpaid debt and the type of legal action taken may depend on the debtor entity (whether an individual or company), the amount owed, the capacity for the debtor to pay, and whether the debt is disputed.
We can help you determine the most appropriate and cost-effective solution to recover your outstanding debts and, in many cases, repayment of your legal costs. We can also help draft your terms of trade and to implement credit control practices to help your business minimise bad debt and improve cashflow.
New Zealand Solicitors in Queensland
As lawyers admitted to practice in both Australia and New Zealand, Harrigan Lawyers can assist you with Trans-Tasman legal advice. We can help if you:
- need a New Zealand solicitor in Queensland
- would prefer to appear by audio or video link for certain court proceedings in New Zealand
- need to have a person located in New Zealand to give evidence in certain Australian proceedings
- require an Australian Court or New Zealand Court judgment to be recognised in the other country
- are starting a business in New Zealand
If you need assistance, contact [email protected] or call 07 3733 1542 for expert legal advice.