Klooger Phillips Lawyers

Level 3, 57 The Esplanade, Maroochydore Queensland 4558 Australia

Website

07 5479 4646

Services

We provide the following services-

  • Advice in relation to business structures (sole trader, partnership, company, trust).
  • Advice and preparation of contractual documentation for the sale of a business.
  • Advice and preparation of contractual documentation for the purchase of a business.
  • Advice on government licensing in relation to operating a business.
  • Preparation of partnership agreements.
  • Preparation of buy and sell agreements.

Business Structure

It is important to establish the appropriate business structure for a particular activity to avoid unnecessary transfer duty and taxation if the business is transferred to a different structure later.It is necessary to consider the following issues:

  • Is the business to be a family business or is the business activity undertaken with
  • others outside the family?
  • Do any family members need to be protected from any future claims or liability arising from the business activity?
  • Who is to own the business?
  • Who is to make decisions in relation to business activities?
  • What is the potential income flow from the business in the future and is it necessary
  • to adopt specific planning strategies?
  • Does the business need a succession plan?

Agreements

There are different forms of agreements setting out the arrangements between business partners.If a company is the business entity then there should be a shareholders agreement. If a partnership structure is adopted then it’s usual to put in place a partnership agreement.Agreements should include provisions relating to the current and future operation of the business, contributions of capital, distribution of income and losses and a succession plan in the event of the death or incapacity of a partner or if one partner desires to sell their equity.

Visited 393 times, 1 Visit today

Add a Review

Rate this by clicking a star below:

Related Listings

logo

07 5443 1566

Suite 5, 32 Aerodrome Road Maroochydore 4558 Australia

Thompson McNichol Lawyers practises in the areas of property, commercial and business law, dispute resolution and estate planning. Read more…

0414 269 463

PO Box 339 Mooloolaba 4557 Queensland Australia

Read more…

gw-hero1

07 5443 4866

Level 3, Cnr The Esplanade & Second Avenue Maroochydore Queensland 4558 Australia

Our background For over 30 years we have built strong relationships with clients for whom we have become legal advisors of first choice. Read more…