What Should I Think About Before Buying A Business?

What Should I Think About Before Buying A Business?

From a legal point of view there are a lot of things to consider when you’re buying a new business. For starters, you need to make sure that the contract of sale is in order and that you’re getting everything that you’re expecting to get.

Similarly, you need to make sure that everything is as it appears on the surface so that you don’t run into problems when you take over the business. An experienced commercial lawyer will be able to help you with everything you need to know when you’re buying your first business and I’d definitely recommend speaking to one.

With this in mind, I’ve put together a short list of the legal considerations you should keep in mind before you buy any new business:

Make Sure Any Building Contracts Are Transferable

If you’re buying a physical business which runs from a specific location, you need to make sure that the premises are included in the sale. Speak with the vendor about this, inspect the sales documents, and consult your commercial lawyer to make sure that everything is above board.

On the other hand, if the premises are leased then you need to speak with the owner to make sure that they’re happy to transfer the lease into your name. Usually they will be, but it’s important to double check.

5 Things to Be Aware of When Signing a Franchise Agreement

5 Things to Be Aware of When Signing a Franchise Agreement

Entering into a franchise agreement can be very exciting, especially if you’re hoping to build a strong business that you can call your own. However, franchise agreements are also fraught with danger if you don’t understand them, which means that you should always speak to a commercial lawyer before signing anything.

If you don’t understand the fine-print of your agreement then you could run into trouble in the future. We’ve therefore put together a short list of the top 5 things to be aware of when signing a franchise agreement.

As always, this shouldn’t be taken as professional advice, but rather as information to guide you in the right direction.

  1. Be aware of any rules for operating

Different franchises have different operation rules that you will have to follow. Make sure that you’re familiar with any operating rules that your franchise has put into place, including things like operating hours, pay rates, software usage and the exact goods and services that you can sell.

  1. Understand termination policies

It’s extremely important to understand termination clauses from both parties’ points of view. I’d recommend speaking to your lawyer about this, as you don’t want to get it wrong.

If you don’t understand termination policies then you might find your contract terminated unexpectedly. On the other side of the equation, you might find that you can’t escape from your contract even when you want to.

Legal Considerations When Building An Amazon Business

Legal Considerations When Building An Amazon Business

Amazon is quickly becoming one of the world’s leading online marketplaces, with millions of people throughout the world selling there every day. However, it’s important to realise that starting an Amazon business isn’t as simple as listing a few products and starting to sell.

Instead, there are numerous legal considerations that you need to take into account when you’re building your first Amazon business. Failing to do so could leave you open to a range of penalties in the future.

I’d recommend speaking with your local commercial lawyer to make sure that you’re doing everything you have to. To help you get started I’ve put together a list of the most important things to consider in this article:

Be Wary Of Copyright Infringements

Copyright is something that you absolutely have to be aware of when you’re selling online. Pretty much every aspect of your online store is subject to copyright restrictions, and you will need to pay careful attention to make sure that you’re not breaking any laws.

In particular, be careful what you sell. Make sure that you’re not selling things like artwork reproductions or anything else that could fall under copyright law.