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The 5 most important legal tips when entering into the purchase or formation of a business

  1. Your business needs to be structured correctly from the outset by ensuring you, your accountant and your lawyer are all on the same page about what structure is appropriate for your business, to minimise personal risk and to set the business up on the best footing for future growth and success. Your structure must be documented clearly and correctly prior to the purchase or formation of the business.
  2. If you have business partners, then a written Shareholders Agreement, Buy-Sell Agreement or Partnership Agreement (depending on your structure) is essential. This ensures everyone is clear about their respective rights and obligations in the operation of the business and also potential exit-arrangements for the future.
  3. Registering a trade mark over your business’ name, logo and slogans will give you rights against competitors who try to use something identical or similar and will also add value to your brand. The more you do to protect your intellectual property at the earliest possible stage, the more protection you will get.
  4. Having a well drafted set of Trading Terms and Conditions for use with your customers/clients that are tailored to your business will make it clear when you will be paid, the ways you can secure payment and the rights you have if you are not paid on time. In addition, such Terms and Conditions can be relied on if any disputes/misunderstanding with customers/clients arise. Furthermore, such Terms and Conditions are required to address obligations on businesses such as dealing with customers’/clients’ personal data, privacy policies, refund and cancellation policies, what jurisdiction will deal with any disputes, etc.
  5. Your business will generally have numerous Contracts (both written and verbal) in place with suppliers of goods and services. These should always be in writing and either be drafted by your lawyer, or otherwise carefully reviewed by your lawyer before signing. Ongoing supply Contracts need to reflect the terms you have agreed to (and are expecting) in order to minimise disputes arising in the future. Normally such Contracts are heavily weighted towards the supplier. However they can, and should be where possible, negotiated to be more beneficial towards your business.

Salerno Law specialise in Commercial and Business Law and are able to provide first class, prompt and efficient advice to business owners throughout Australia.

We are here to help. Speak to us today.

 

By Luke McKavanagh

Luke is part of Salerno Law’s commercial and business law team. His days involve providing advice on a wide variety of commercial issues that arise in operating small to medium businesses, where he assists clients who are growing their business or wanting to protect what they’ve established.

 

DISCLAIMER: This article is only meant to give you general information and should not be relied on as legal advice. Speak to one of our lawyers for more information.

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Litigation and dispute resolution

Litigation within the agribusiness sector refers to legal disputes and court actions that arise in connection with agricultural operations. These cases often require in-depth understanding of both the legal system and the unique regulatory landscape of agriculture. Our firm has extensive experience with the full gamut of legal disputes such as:

The key areas that we can assist with include:

  • Contractual Issues: Disagreements often arise from contracts involving supply chains, land leases, share farming, agistment arrangements, partnerships, joint ventures, and various other commercial agreements typical in the agricultural industry.
  • Land Access and Compensation: Conflicts may occur over access to land for activities like mining, gas exploration, or infrastructure development, often involving compensation claims for landowners.
  • Workplace Disputes: Litigation may stem from matters such as wrongful termination, employment agreement breaches, or occupational health and safety concerns on farms or in agribusiness operations.
  • Environmental and Biosecurity: Disputes may be triggered by non-compliance with environmental regulations, pollution events, water contamination, animal and plant health including pest and disease control measures or debates surrounding water usage and rights.
  • Intellectual Property Rights: Conflicts might arise over ownership or use of agricultural intellectual property such as plant variety rights, trademarks, and other proprietary innovations.
  • Farm Succession and Inheritance: Disputes over the division of farming assets, family trusts, or the interpretation of wills often lead to litigation in the context of generational farm transfers.

Rural property acquisitions and sales

The purchase or sale of rural land involves a broad spectrum of legal considerations that require careful attention. Key issues often include legal access to the property, the existence of easements, water rights and entitlements, land zoning regulations, potential land contamination, and the impact of native title, mining interests, and cultural heritage protections. It is also essential to assess the tax implications of the transaction, particularly in relation to Goods and Services Tax (GST) and Capital Gains Tax (CGT).

Salerno Law has extensive experience navigating the complexities of rural property matters at local, national, and international levels. We provide comprehensive support throughout the entire transaction process—from initial due diligence and review of contractual documentation to stakeholder engagement and final settlement. Our goal is to ensure that every legal aspect is addressed thoroughly and efficiently, safeguarding your interests every step of the way.

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