A restraint of trade (also known as a restrictive covenant) is a clause that seeks to restrict a party from engaging in a particular form of business or commercial activity. The underlying purpose is to protect a party’s business from …
Legal Guide to Buying a Commercial Property
The purchase of a commercial property will usually require a more detailed investigation into the contract terms, the title and planning information, and the lease terms than may be the case for the purchase of a residential property. A competent …
Buying a Franchised Business
Franchising is a business model whereby the franchisor grants to the franchisee the right to operate a business utilising a trade name and business system. The franchisor usually exercises a high degree of control over the franchisee through established management, …
Assigning a Retail Lease
I was recently involved in a small business transaction where a landlord’s managing agent sought to impose a 4.4% “Transfer fee” on a tenant in connection with the assignment of a retail lease. The “Transfer fee” was calculated as a percentage …
Small Sales, Big Risks for Business Brokers
The failure of a vendor or a vendor’s agent to comply with the disclosure requirements under the Estate Agents Act 1980 (Act) when selling a small business in Victoria can result in penalties, lost sales and potential claims by disgruntled …
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