Business and Commercial

Parker Law QLD offers expert advice on preparing and reviewing crucial business documents, such as terms of trade and service agreements. Terms of trade are essential for managing credit transactions, allowing businesses to incorporate clauses for interest on overdue accounts, administration fees, and more. Service agreements vary, and it's vital to seek legal and insurance advice to avoid potential risks and indemnity clauses that could lead to financial loss.

Buying or selling a business involves numerous complexities, from releasing security over the business to transferring service agreements, rental agreements, and employee contracts. It also includes dealing with various transfers, such as phone numbers, websites, business licenses, and leases for premises. Parker Law QLD provides crucial legal advice to navigate these intricacies, ensuring fair and reasonable contracts, preventing deal disruptions, and minimising legal fees for both buyers and sellers.

Navigating the sale or purchase of commercial or industrial property in QLD involves intricate legal considerations due to the extensive legislation in place. Parker Law QLD, with substantial experience in such transactions, guides clients through the process, providing clear information and assistance in decision-making. Recognising the critical importance of timing, the firm prioritises matters to swiftly secure signed contracts and ensure the realisation of agreed-upon sale terms.

Parker Law QLD offers comprehensive legal assistance for franchisees, providing practical advice for those buying, selling, or operating a franchise. The firm can offer structuring advice in collaboration with accountants to ensure proper setup from the beginning, potentially avoiding future restructurings with significant transfer duty implications. Clients can choose the level of legal advice, from verbal consultations to detailed written letters, and receive timely assistance on various franchise-related matters, including renewing agreements, dispute resolution, and understanding franchisor obligations.

Parker Law QLD has extensive experience representing landlords and tenants in the complex area of property law, particularly under the Retail Shop Leases Act. For landlords, the firm assists in lease preparation, ensuring compliance with relevant regulations, and offers options for commercial tenancy agreements. When representing tenants, Parker Law QLD provides a clear understanding of lease terms, tailored advice, and emphasises the importance of seeking guidance in the face of potential insolvency issues, offering affordable options for legal assistance.

Management Rights refer to the business of residing in and caretaking a unit or townhouse complex while running a business from home. It differs from hotels or motels, as the units are typically owned by various individuals within a complex. The management rights owner earns income through a Body Corporate Salary, a commission from acting as a letting agent for unit owners, and additional sources such as repairs, maintenance, cleaning charges, and tour bookings. Special qualifications, including obtaining a Resident Letting Agent’s Licence, are necessary to operate the letting business legally. The sale or purchase of management rights involves complexities, requiring consent from the body corporate and extensive due diligence, where Parker Law QLD can provide expertise for sellers and buyers.

When selling a business owned by a company, parties may opt for a share sale, involving the buyer purchasing shares in the company instead of the business directly. Pros include potential transfer duty exemptions and tax savings for the seller, with no need to change business bank account details. However, cons involve potential challenges with third-party consents, inheriting the company's history, and the need for extensive warranties in the sale agreement, requiring careful consideration and due diligence by both parties. Parker Law QLD offers expertise in crafting effective share sale agreements at a fair price.

Parker Law QLD offers assistance in navigating legal considerations when starting a business, providing practical advice for a smooth process. Choosing the right business structure, whether a company, trust, or a combination, is crucial for legal, taxation, and financial purposes. Opting for the correct structure from the beginning helps avoid future restructuring complexities, potential transfer duty, and the need for third-party consents, ensuring a seamless start to your business journey.