Business Sales & Acquisitions
Legal advice for buying or selling a business in Victoria. Orange Legal Group handles due diligence, contracts, business structures and settlement.
Frequently Asked Questions
- What is the difference between an asset sale and a share sale?
- In an asset sale, the buyer acquires specific assets of the business but not the company itself. In a share sale, the buyer acquires the shares in the company including all its liabilities and obligations. The structure has significant tax, liability and practical implications for both parties.
- Do I need a lawyer to buy a business?
- Yes. A business purchase is one of the most significant financial transactions most people undertake. A lawyer will review the contract, identify risk in vendor disclosure, advise on structure and protect your interests throughout the transaction.
- What is a restraint of trade clause?
- A restraint of trade clause prevents the seller from competing with the business for a specified period and within a specified area after completion. The enforceability of restraints depends on the reasonableness of the restrictions.
- What due diligence should I do before buying a business?
- Due diligence typically covers financial records, key contracts, leases, IP, employees, regulatory compliance and tax obligations. The scope depends on the business type and transaction size. We advise on the appropriate scope for each transaction.
- How long does a business sale take?
- A straightforward business sale typically takes 4–8 weeks from execution of heads of agreement to settlement. Complex transactions, due diligence periods or regulatory approvals can extend the timeline significantly.