Commercial, Company and Business Lawyers Adelaide
Furthermore, our solicitors have networks with experts in particular aspects of commercial and company law, accounting matters and requirements of taxation law.
You may be someone operating in Adelaide as a sole trader, experienced business owner, startup entrepreneur and everything inbetween, in the business of law – our commercial and company lawyers will be able to assist you.
Commercial and Company law is not the area of every solicitor. Scammell & Co. has solicitors with decades of accumulated knowledge and experience in this area.
Scammell & Co. have 6 offices located throughout South Australia including Adelaide CBD, Port Adelaide, Walkerville, Gawler, Renmark and Tanunda. Call or email us today to speak with a lawyer about your matter, or to book an appointment at an office convenient to you.
FAQs Click on the questions below to reveal the answer.
What are some of the traps people should look for when buying or selling businesses?
- Unnecessary tax liabilities created.
- Inappropriate lease terms which can make it difficult to resell the business.
- When buying a business – possibly more so in the case of smaller family businesses – checking that the wages costs shown for the business are not understated. For example, sometimes in a family business, run by a husband and wife, the wife may be attending each day, and putting in a full day, but no wages are paid and thus the cost of that person’s input is not showing as a cost in the Profit & Loss Statement.
- Danger of being sued through inadvertently failing to comply with regulations.
- Dangers arising from purchasing a non-performing business because of a failure to make adequate investigation.
When running a small business, extending credit to customers can present problems...
- Preventing bad debts.
- Assessing a reasonable amount of credit.
- Obtaining director’s guarantees from customers.
- Arranging a contract to retain ownership of the goods until payment is received in full.
A. There are many different answers, according to the nature of the business.
Solicitors at Scammell & Co. have advised a wide range of businesses on the abovementioned issues and more.
The short answer is contact Scammell & Co. to arrange a discussion. The first half hour of your first meeting will be free, so you can get some specific advice at no cost to you.
What kind of business structure is best when setting up a new business or changing an existing business?
For example, in certain situations a partnership may be preferable to a company, or vice versa.
Often tax and risk considerations apply when choosing which business structure is suitable for you.
How can business owners protect their business assets as well as their personal assets?
There cannot be absolute protection of assets in every situation but there are measures that can be taken to minimize exposure of assets to creditors’ claims.
Should I, when selling a business, provide Vendor finance?
A further example of risk associated with Vendor finance – the new owner may decide, after occupying the business for a period of time, that he / she was mislead about the value of the business and paid too much. it. He / she may then perhaps refuse to pay the balance of the purchase price.
A Vendor who provides finance to a Purchaser is always taking a risk – even if he has good security.
Free legal advice.
235 St Vincent Street,
South Australia 5015
(08) 8447 4466
107 Walkerville Tce,
South Australia 5081
(08) 8342 0300