Question: Do I need a lawyer when buying a business?Answer:
Absolutely! Buying a business is a big committment and there can be many legal and financial traps that you can easily find yourself in without legal guidance. A business lawyer will walk you through the purchase process, help you conduct due diligence, organise finances and advise you on your contractual rights and obligations. The sale of business contract is a standard form contract, but the seller may have drafted the agreement to their best interests and not yours. A small business lawyer will need to carefully review the sale of business contract and make sure that you are fully aware of what you are agreeing to.