Area of Practice:
Whether you need assistance in the establishment, efficient operation or the winding up of a business, Lexington Law has the proficiency to assist you. You will receive practical commercial advice to aid you in growing the business or making it more efficient and profitable.
We have extensive experience and can assist you with:
Buying and Selling a Business
- Buying and Selling a Business
Whether buying or selling a business, the team at Lexington Law have the experience and knowledge that ensures that you can make well informed decisions during the transaction. When buying a business, we will guide you through the “due diligence” process and review and advise you on the contract for sale of business so that you can feel confident that the proposed transaction meets your requirements before committing to the purchase. If you are satisfied with the agreement, we will facilitate the exchange of contracts and have carriage of the matter through to settlement for you. If you are selling a business we can advise on the negotiation process so that you can negotiate the best possible position. Such negotiations usually include the purchaser seeking warranties that prevent the seller from conducting a similar business during a certain time frame or distance from the business location. Following the negotiations, we will prepare the contract for sale and any associated documents, once accepted by the purchaser, we will facilitate the exchange of contracts and have carriage of the matter for you until settlement.
Establishing a Business
- Establishing a Business
When establishing a new business, it is crucial to setup the business correctly. We will advise you on the available business structures including being a sole trader, partnership or trading under a corporate entity. Your liability exposure may vary under different business structures so it is important that you understand the options that are available to you so that you can make a well-informed decision. We can liaise with your financial advisor to ensure that your selected business structure is best suited to your legal and financial circumstances.
Employment Contracts and Employment Law
- Employment Contracts and Employment Law
An employment contract is an agreement that outlines the rights and responsibilities of the employer and employee during and following the employment. If you are an employer we can provide you with advice on provisions that should be encapsulated into your employment agreements with your employees. We appreciate that each industry is unique and accordingly you may require your employment agreement to be specifically drafted to protect your interests, whilst considering the relevant award and legislation. If you are an employee we can assist you with the interpretation of the employer’s employment agreement and advise you on matters that should be negotiated. Whether you are an employer or an employee, we can provide you with advice on various aspects of the employment relationship including entitlements, disputes and termination of employment. We have experience in all aspects of dispute resolution including litigation.
- Business Contracts
A business contract is a binding relationship between two or more parties. For the contract to be valid and binding it must satisfy certain criteria which are uniform to all contracts, known as the “essential elements”. Although business contracts are a common part of the day to day business of a commercial enterprise, it is crucial that the contracts are prepared correctly to protect your interests to prevent consequences which could be financially damaging. Business contracts can be used to cover a multitude of matters. Whether it relates to a merger and acquisition, service agreement, property and equipment lease, indemnity or non-disclosure agreement or any other commercial relationship, the team at Lexington Law are experienced and can assist you with your matter.
- Corporate Structures
A Corporation is a separate legal entity. This means that at law a Corporation is like a person as it can own property, borrow money, sue and be sued in its own right. A Corporation is owned by its shareholders and controlled by its directors. The Corporation being a separate legal entity can be an advantage to a business owner as it provides the directors of the company with limited liability. This means that your personal assets can be protected by the “veil of incorporation” from claims and liabilities in certain circumstances. We can provide you with detailed advice and liaise with your financial advisor to ensure that establishing a Corporation is best suited for your business. When you have multiple shareholders in a Corporation a Shareholder Agreement is a crucial document. A Shareholder Agreement governs the relationship between the shareholders and the Corporation. It outlines their rights and responsibilities which can include voting rights, dividend entitlements, sale and purchase of shares and dispute resolution.
A partnership is the relationship that exists between persons carrying on a business in common with the view to make a profit. We can advise you on the establishment of a partnership or if a dispute has arisen in an existing partnership. When preparing a Partnership Agreement, it is important to understand that Partners are generally jointly and severally liable to each other unless a limited partnership has been created. All Partners have a fiduciary obligation which means that they must each always act in the best interest of the Partnership. The Agreement should outline the term of the Partnership and the duties that are expected of each Partner. Exit provisions are crucial to ensure that in the event that a Partner seeks to leave the Partnership, all parties concerned understand the rights and obligations that are applicable in the circumstances.
Commercial, Industrial and Retail Leasing
- Commercial, Industrial and Retail Leasing
The team at Lexington Law have considerable experience in the leasing of commercial, industrial and Retail properties. If you are looking to lease a premises, we can review the proposed lease and provide you with advice so that you can make an informed decision on whether it is the right premises for you. We will negotiate the draft documentation, assist with the execution and exchange of the lease and advise you on all related matters. If you are a lessor, based off your instructions we can prepare the draft lease, negotiate all relevant matters with the lessee’s Lawyer, attend to the execution and exchange of the lease and further to attend to the registration with Land and Property Information where required. The correct form of lease needs to be determined to ensure that it is a valid lease. The term of the lease can include options for renewal by the lessee. We will advise you on the different methods that are available for rent increases and who should be liable for other outgoings. Other provisions that can be negotiated and inserted in leases include redevelopment provisions or options for the lessee to purchase the premises.
A Franchise is a right to use a system developed by the Franchisor. Franchises are often a good way for people to enter into business as they can provide a proven system and the use of a Franchise name which usually has goodwill attached. This makes it easier to attract clients to your business. As well there can be considerable savings in advertising and in the sourcing of products from suppliers. A good Franchisor will also provide training and support to its Franchisees. In return the Franchisee pays the Franchisor a fee for the use of the name and the system. Franchise documentation is usually quite complex and involves obligations on the part of both parties. We at Lexington Law can explain your rights and obligations and negotiate amendments that may be required to the documentation.
Real Estate Agency / Rent Roll Sales and Acquisitions
- Real Estate Agency / Rent Roll Sales and Acquisitions
If you are an Estate Agent and considering selling your Agency or selling a part of your Rent Roll we at Lexington Law have the necessary experience to guide you through the process and prepare the necessary documentation. Likewise, if your wanting to acquire an Agency or a Rent Roll we are able to assist you in this process. As two of our lawyers have experience as Real Estate Agents we have a unique perspective and understanding of the industry. In this way we can guide you through the process and ensure that you fully understand your rights and obligations going forward.