Company and Commercial Lawyers – Adelaide
Providing the South Australian business community with professional, efficient and cost-effective legal services.
At Scammell & Co. we provide practical legal advice and solutions on all aspects of Comapny and Commercial Law.
We advise both public and private companies, from sole traders to small, medium and large enterprises, on a broad range of business matters. Our legal services include:
- Commercial Transactions
- Contracts for Sale / Purchase of a Business
- Lease Agreements
- Employment Contracts
- Trusts and Business Structures
- Taxation and Revenue Law
- Debt Recovery and Credit Management
- Liquor Licensing
- Commercial Litigation
- Notary Public (International Documents)
- Succession Planning for Family Businesses
- Estate Planning including Wills, Testamentary Trusts, Power of Attorney and Advance Care Directives
Our professional and efficient Company and Commercial Law team combine comprehensive knowledge with decades of practical experience which gives us the leading edge in assisting South Australian businesses.
Scammell & Co. have 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.