Why is the Apportionment between Goodwill and Equipment relevant in a Sale of Business?
Why is the Apportionment between Goodwill and Equipment relevant in a Sale of Business? If your sale of business includes the transfer of both
Don’t gamble with your future. Get the right advice, maximise your chances of business success and reduce the potential of a foreseeable risk costing you more than you can afford to lose.
Business Law and Company Law are 2 broad areas of law that cover legal issues and transactions relevant to businesses (including business owners) and companies (including directors and shareholders).
Whilst a company may carry on a business, a business may also be carried on by a sole trader, partnership or a trust. Similarly, shares in a company, real property and other investments may be owned by one or more individuals, trusts or companies.
It is important to ensure that the correct structures and shareholding are set up when the business is established as changes to ownership structures may have stamp duty and capital gains tax implications.
Once ideal structures are in place the focus for most businesses moves to the maximising business success and avoiding foreseeable problems. Risk assessment and business protection strategies, therefore, underpin most aspects of business and company law. Contract law also has a huge role to play in this regard.
Finally, business and company law is concerned with the planning for the realisation of the value of an owner’s interest in the business or company by sale and succession planning.
If a business or venture does not turn out as planned and becomes insolvent, options to restructure the insolvent business or company may be available to enable the survival of the underlying business.
In summary, Business Law and Company Law is broadly associated with:
See “How We Help“ for specific examples of how we assist clients with Business & Company Law matters.
Unmanaged risks leave you exposed and reduce business value when it’s time to sell. Protect your business and maximise your chances of business success today.
Our experienced Newcastle Business Lawyers and Company Lawyers take a proactive approach to assisting small business and corporate clients. Because we specialise in Commercial Litigation we can offer expert insight into how problems can arise and what can be done to avoid or minimise the consequences of them.
We are constantly on the lookout for ways that we can benefit your business or eliminate or reduce risks and protect assets with our legal advice.
Our Security of Payment Guide helps Developers, Contractors, Subcontractors, Suppliers and Consultants in the building industry gain a better understanding of how the security of payment regime works and when and why to seek our professional help. The guide is written in plain English and is easy to understand.
Why is the Apportionment between Goodwill and Equipment relevant in a Sale of Business? If your sale of business includes the transfer of both
How to Sell your Business with Confidence Engage Professionals to Fast Track your Sale Once you have made the decision to sell your business, you
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The JobKeeper Payment Explained On 8 April 2020, the Federal Government passed the Coronavirus Economic Response Package 2020 which authorised the introduction of the widely
Building Services Contractor sells controlling interested to Private Equity company in complex $15 million deal. Roberts Legal was appointed to act on behalf of medium
Software developer sells intellectual property to public company in $6 million once in a lifetime deal. Roberts Legal was initially sought out by a software
Clients cash in on once in a lifetime sale of business after trading for only three years. The clients were directors of a company that
Health Professionals incorporate company and purchase business while enjoying a family holiday. The clients were health professionals purchasing their first practice. The clients were due
Private Equity deal goes sour after years of trading. Complex misleading and deceptive conduct case settled before Court action necessary. The clients were the sole
Restitution to the rescue; $390,000.00 (96%) recovery within 2 months for Accounting practice with no Fee Agreement. The client, an Accounting practice, had performed work
Christmas Injunction leads to commercial windfall for young inventor who had shared Confidential Information with a relative under an Agreement they had prepared years earlier.
IT Service provider enforces fixed term contract with customer repudiating the contract. Garnishee Order leads to payment in full. The client provided an IT support
Long term shopping centre owners set to enjoy retirement. One of Roberts Legal’s longest standing clients were the owners of a multi-suite shopping complex with
Finally I have found a law firm who me and my family will be using for many years to come. I would highly recommend Roberts legal to anyone who needs a good legal team and are worth every dollar.
“Sam and the team at Roberts legal assisted me in 2019 with a very complex business case. They are leagues ahead of any other law firm I have used in the past. Their attention to detail and professional prompt response to every item raised was a real stand out. The team keep you fully informed at all times in simple to understand language highlighting pros and cons of every decision that needs to be made. Finally I have found a law firm who me and my family will be using for many years to come. I would highly recommend Roberts legal to anyone who needs a good legal team and are worth every dollar.”
Paul C
I certainly would recommend Sam and the Roberts Legal team for this kind of work and would be pleased to speak with any prospective clients about the time we worked together.
Midac Technologies Pty Limited (“Midac”) started up in 1981 in Sydney and pioneered early “smart building” direct digital control technology. In 1994 Midac made an early start developing online software and solutions. The then Dungog based business was instrumental in encouraging and assisting many organizations to make their online debut, including large corporate entities like Boral and James Hardie. From about 1995 Midac focused on developing solutions for the tourism and real estate sectors and developed early online or “cloud based” applications.
By 2012 the Midac owners were ready to take a break from their business of some 30 years. By that time their online holiday rentals bookings management and reservation system, “YesBookit” was respected as the leader in the industry, providing an online application to booking agents around Australia, and some overseas. YesBookit also connected with and distributed an online bookable accommodation product to most leading accommodation portals; including Wotif, Home Away, Take a Break, Rent a Home and Stayz (a Fairfax Media division).
For a small business sale, the process was relatively complex and involved the sale of the business, intellectual property, transfer of staff, application and hosting servers, online application client service relationships and a myriad of provider contracts.
“Initially we thought Sydney Solicitors would be the way to go, but we found the answer just down the road in Newcastle. Roberts Legal did a fantastic job with the entire process.
They expertly assisted us with every stage from, the preparation of an Information Memorandum, consideration of Expressions of Interest, negotiation of an Exclusivity Agreement, purchaser due diligence, the novation of key provider contracts and licences and the execution and performance at an exhaustive Business Sale Agreement including post-completion Fixed Term Consulting Agreements.
I certainly would recommend Sam and the Roberts Legal team for this kind of work and would be pleased to speak with any prospective clients about the time we worked together.”
Yours sincerely
Kevin Johnson-Bade
Sam has an in depth knowledge in commercial areas of the law which is invaluable to us as accountants.
“I have just started working with Sam and find he has an in depth knowledge in commercial areas of the law which is invaluable to us as accountants. I would recommend Sam to any of my business clients.”
Richard McArtney, Bentley’s Accountants Newcastle Pty Ltd
Sam has an ability to achieve a great result for his client without becoming confrontational with the transactional parties.
“Sam is personable whilst remaining extremely professional. He has an ability to achieve a great result for his client without becoming confrontational with the transactional parties. He focuses clearly on what is needed to finalise the matter in an effective and efficient manner.
It is a pleasure to work with Sam.”
Lindsey Karathanassis, Linkara Capital
As a direct result of Samuel’s advice and negotiating skills my businesses have performed at a higher than expected level.
“I have undertaken 3 separate franchise ventures and on each occasion I asked Samuel Roberts to provide his expert legal opinion and advice regarding the franchise documentation, the business being conducted and various leasing arrangements and finance options.
Samuel displayed a great depth of knowledge in all of these areas and has been instrumental in securing favourable agreements in negotiations with both franchisors and landlords.
As a direct result of Samuel’s advice and negotiating skills my businesses have performed at a higher than expected level.
Samuel also maintains a high level of communication which has been of particular benefit to me and I would have absolutely no reservation in recommending the services of Roberts Legal to anyone considering entering into any form of Franchise operation”
Darren MacClure, Director,
Dazmak Pty Limited
Sam is extremely knowledgeable about the commercial and legal aspects of generating wealth from business.
“Sam is extremely knowledgeable about the commercial and legal aspects of generating wealth from people’s greatest asset – their business.”
Michael Craddock
Sam took the time to understand our business and worked closely with us to create a contract that was easy for our clients to read and understand while providing us with the required level of legal protection.
“We worked with Sam from Roberts Legal to develop a service level contract for use with our clients. Sam took the time to understand our business and worked closely with us to create a contract that was easy for our clients to read and understand while providing us with the required level of legal protection. I would recommend Sam and the Roberts Legal team to anyone who is after a solicitor who will take the time to understand their needs and requirements or after a solicitor who can talk to them in plain English.”
Tristan Hough, Myrtec
I was very happy with the advice regarding insolvency issues for my company and options for my wife and I in relation to bankruptcy and alternatives.
“I was referred to Sam Roberts for advice due to the dire financial situation my wife and I found ourselves in as a result of the failure of our business and pressure from our Franchisor. I was very happy with the advice regarding insolvency issues for my company and options for my wife and I in relation to bankruptcy and alternatives. Sam was very professional and his advice was practical, clear and easy to understand. I was absolutely satisfied with the level of service and communication.”
Anonymous
Sam and his team were great in helping us set up our business.
“Sam and his team were great in helping us set up our business. They offered practical advice and were very responsive with answering questions and documentation.”
Luan Atkinson
Sam’s asks the right questions to get the process under way in an incredibly efficient manner.
“Sam Roberts and the team at Roberts Legal are the most dynamic and professional law firm that I have worked with. Sam’s asks the right questions to get the process under way in an incredibly efficient manner and they keep you informed, every step of the way. No chasing up required, which is a rarity in professional service outfits. I wouldn’t hesitate to recommend them.”
Stuart Upward, The Right Person
Sam has proven to me he has an in depth knowledge of legal matters, is very approachable and discharges his responsibilities in a timely and professional manner.
“I have used the services of Roberts Legal and in particular Sam Roberts for both myself and for my clients, and continue to do so. Sam has proven to me he has an in depth knowledge of legal matters, is very approachable and discharges his responsibilities in a timely and professional manner.”
Erminio Adoranti, Accountant, Adoranti & Co
Sam and his team have been extremely professional, efficient and courteous.
“We have used Sam Roberts now on a number of occasions for various legal matters – including some very complex issues. On all occasions Sam and his team have been extremely professional, efficient and courteous.”
Brentwood Skin
One of the biggest benefits of using Roberts Legal, as apposed to other firms, is that Sam and his staff are very contactable.
“Sam Roberts has assisted our Company in relation to a range of issues relating to a dispute…When I have a problem or need a legal answer it is important that I can get it quickly. One of the biggest benefits of using Roberts Legal, as apposed to other firms, is that Sam and his staff are very contactable.
We needed full finger on the pulse service and they delivered every time.
“I found the service and constant updates to be very personal, Sam and his team understood that during our tough time we needed full finger on the pulse service and they delivered every time. Since then we have used them on more than on occasion and can only commend them on their fast and friendly service.”
Andrew (Sid) Sinclair – Sid’s Automotive & Offroad
Ned achieved the best possible outcome for us.
“We are absolutely thrilled with the result Roberts Legal achieved for our company! After a long battle over a very large sum of money, Ned achieved the best possible outcome for us. He was incredibly professional, while at the same time extremely patient and easy to talk to. We could not fault our experience with Roberts Legal and would recommend them without hesitation.”
I have worked with many …. you “stand above the rest” in your profession.
It has been a great pleasure working with you as an ultimate professional on this matter. There are very few that can measure up to your professionalism. I have worked with many …. you “stand above the rest” in your profession.
Geoff Page, Chartered & Forensic Accountant
Leonard & Page Pty Limited
No nonsense commercial approach to getting the right result.
“No nonsense commercial approach to getting the right result.”
Bradd Morelli, Jirsch Sutherland & Co
Roberts Legal are professional, provide excellent attention to detail and strive to gain the best results for their clients.
“I would not hesitate to recommend Roberts Legal, they are professional, provide excellent attention to detail and strive to gain the best results for their clients.”
Mark Humphries, Sunbow Roofing
It is surprising to find a law firm that provides such clear and concise guides.
“It is surprising to find a law firm that provides such clear and concise guides to business succession planning and shareholders’ agreements. Having been through the exercise with a number of our accounting practice clients, it is good to have a tool that can be used to assist our clients in forming a clear picture of how they want their business to continue following an unexpected event and how they expect the various shareholders to interact with each other. The Business Succession Planning Guide and Term Sheets enable us provide a clear set of instructions to the team at Roberts Legal.”
Richard McArtney, Bentley Accountants Newcastle Pty Limited
Every co-owned business needs a succession plan and this is an easy and inexpensive way to begin to build one.”
“The business succession planning guide and term sheets (questionnaire) provided by Roberts Legal are useful resources for anyone in a co-owned business. It breaks down the issues in everyday language and allows the business owners to identify and resolve all of the important issues proactively before they become a problem. The simple questionnaire helps business owners to have the awkward conversations with their business partners in an objective way that creates certainty for all the owners. As a Chartered Accountant I often come across situations where a disagreement between co-owners leads to the demise of the business and it’s good to know I can refer my clients to the business succession planning guides provided by Roberts Legal to establish the rules of the game from the start to keep everyone moving in the same direction. Every co-owned business needs a succession plan and this is an easy and inexpensive way to begin to build one.”
Trevor Monaghan, Climax Business Strategies Chartered Accountants
I have used Roberts Legal on a number of different matters all of which have been awarded in my favour.
“Over the past several years I have used Roberts Legal on a number of different matters all of which have been awarded in my favour and I believe this is due to their diligence and their desire to represent their client to the best of their ability.”
Elizabeth Howard
We have already recommended Roberts Legal to other Franchisees with respect to their thoroughness and handling of our franchise renewal.
“We used Roberts Legal for advice in relation to the renewal of our Franchise Agreement. In the past our renewals have been daunting. The service was excellent. We were very confident in their ability to handle our matters. We have already recommended Roberts Legal to other Franchisees with respect to their thoroughness and handling of our franchise renewal.”
Allan & Lorraine Beeby, Donut King Glendale
Without you it would have been impossible to confront these multi-national corporate giants.
“Without you it would have been impossible to confront these multi-national corporate giants.”
Toby Player. Bodyboard King