Legal Requirements When Buying a Business in Australia

When buying a business in Australia, there are several legal requirements that must be carefully followed to ensure a smooth and secure transaction. First, conduct thorough due diligence to review financial records, contracts, licenses, leases, and any existing debts or liabilities. You must also comply with business registration rules, including transferring the Australian Business Number (ABN) and any necessary permits. Employment laws need to be observed if the business has staff, including paying entitlements and honoring workplace agreements. It is also important to review intellectual property, trademarks, and any ongoing legal obligations. Consulting a qualified lawyer or accountant helps ensure all legal requirements are met and protects your investment.

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