Becoming a business owner is a significant decision. You can no longer rely on the safety of a fixed salary, may have to work well over the average hours of 9-to-5, and must take on more legal and financial liabilities.…
You have built a successful business but the time has come to sell and move on to a new venture. You know the operating side of your business well, but you may not be as confident when you need to…
A heads of agreement (HOA) is the document which summarises the key commercial terms of a leasing transaction. It is usually the first document you will sign before receiving the lease. As a national tenant, there are two key considerations…
At the date of this article, there are uncertain times ahead for all businesses. The COVID-19 pandemic is a once in a 100-year health crisis that is impacting the Australian and world-wide economy. If you are selling a business and…
If you have grown your business to the point where you are thinking about selling your franchise network, it can be a very exciting time. All that hard effort is – hopefully – about to pay off. The question is:…
A heads of agreement is the agreement that you enter into before the final contract. It is used widely within the construction industry for large projects between contractors and principals. If you are a contractor, it is a good idea…
When selling a business, it is essential to document the key commercial terms of the agreement before a sale of business agreement (SOBA) is prepared. Documenting the critical commercial terms will allow for a smoother and more efficient sale process.…
An agreement to agree occurs where parties decide that certain commercial arrangements should be decided at a later date. For example, this may include the amount of rent paid in a commercial lease or the number of goods a distributor…
A memorandum of understanding (MOU), also referred to as a letter of intent, heads of agreement or term sheet, can be an extremely useful commercial tool. Parties use MOUs to quickly and inexpensively set out the commercial terms of a…
When looking for premises to lease for your business, you and the landlord may sign a preliminary document called a letter of offer. It is also referred to as a heads of agreement and covers the key commercial terms of the lease.…
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