When should I seek legal advice for my business?
Seek legal advice when starting a business, entering significant contracts, buying or selling a business, facing employment disputes, dealing with unpaid debts, or experiencing partnership disputes. Early advice prevents problems from escalating and is more cost-effective than addressing serious disputes later.
What’s the difference between asset sale and share sale?
Asset sales involve purchasing specific business assets and assuming nominated liabilities, providing greater control over which liabilities you assume. Share sales involve acquiring the company including all assets and liabilities, requiring more extensive due diligence. Your lawyer and accountant should work together to structure transactions optimally.
Do I need a partnership agreement if I’m in business with family?
Yes, absolutely. Family partnerships often fail without proper documentation because assumptions about contributions, profits, and decision-making differ between partners. Partnership agreements document roles, capital contributions, profit sharing, decision-making, exit strategies, and dispute resolution, preventing family disputes that can destroy both business and personal relationships.
What are my obligations when employing staff?
Key obligations include paying at least minimum award rates, providing leave entitlements, paying superannuation, providing payslips, ensuring workplace health and safety, preventing discrimination and harassment, withholding PAYG tax, and carrying WorkCover insurance. Non-compliance can result in significant penalties.
How can I protect my business name and brand?
Business name registration with ASIC doesn’t provide exclusive rights. Trademark registration provides exclusive rights to use your trademark for specified goods/services across Australia.
What happens if I can’t pay my business debts?
Options depend on business structure. Sole traders have personal liability for all debts. Companies have limited liability (except for personal guarantees), with options including voluntary administration, DOCA, or liquidation. Directors must avoid insolvent trading. Early advice provides more options and potentially avoids personal liability exposure.
For over a century, Walsh & Blair Lawyers has been supporting local businesses throughout the Riverina region. We understand the unique challenges facing businesses in regional NSW and provide legal services tailored to the local business environment.
Understanding Regional Business Realities
Operating a business in Wagga Wagga presents specific considerations:
- Agricultural Businesses: Seasonal cash flow, farm partnerships, water rights, rural transactions
- Hospitality and Tourism: Liquor licensing, commercial leases, casual workforce management
- Professional Services: Partnership agreements, practice sales, employment contracts
- Retail Operations: Commercial leases, employment law, supplier contracts
Local Business Networks
Our long-standing presence means established relationships with local accountants, business brokers, banking providers, insurance brokers, and business advisors. We work collaboratively with your other advisors to provide coordinated support.
Accessible Local Legal Services
Unlike city firms, we provide in-person meetings at Wagga Wagga, Cootamundra, or Tumbarumba offices are understanding of local challenges, provide a responsive service, and long-term relationships supporting your business throughout its lifecycle.
Over a Century of Business Law Experience
Our business law solicitors bring comprehensive business knowledge handling all aspects from startup advice to complex transactions. We provide practical commercial advice aligned with business realities, prompt responsive service when decisions can’t wait, clear communication in plain language, and cost-effective solutions with transparent pricing.
Building Long-Term Business Relationships
The best business lawyer relationships are long-term partnerships. When we understand your business, industry, and objectives, we provide better advice tailored to your specific circumstances. Many clients have worked with us throughout their entire business journey, from initial startup through growth phases to eventual exit or succession.