Burgess Thomson Lawyers

Buying A Business

Business & Commercial

Need expert legal advice to purchase a business?

Purchasing a business is a pivotal step that requires meticulous legal guidance to ensure that every aspect of the transaction is comprehensively addressed. The team at Burgess Thomson are experts in all types of business transactions, providing unparalleled legal advice and support for those embarking on the journey of buying a business.

Our seasoned business purchase lawyers are well-versed in navigating the complexities of acquiring various types of businesses, from hospitality venues like motels and restaurants to retail and financial enterprises.


How Burgess Thomson Can Help with Buying a Business

Assessing Opportunities: Our legal team possesses the acumen to evaluate the merits of a potential business purchase, providing due diligence that delves into the heart of the business’s operations, financial health, and legal standings. We partner with our clients to uncover the latent value and risks, ensuring that you make an informed decision.

Negotiating Terms: The cornerstone of a successful business purchase is the negotiation of terms that align with your strategic goals. At Burgess Thomson, we leverage our legal expertise to advocate on your behalf, crafting terms that protect your interests and facilitate a transaction that aligns with industry standards and regulations.

Drafting and Reviewing Contracts: Contracts are the bedrock of any business transaction. Our business purchase lawyers meticulously draft and review contracts to ensure that they are comprehensive and tailored to your specific circumstances. We scrutinise every clause to safeguard your position and anticipate any future contingencies.

Ensuring Compliance: The acquisition of a business involves a labyrinth of regulatory requirements. Burgess Thomson serves as your guide through this complexity, ensuring that your business acquisition adheres to all legal mandates, including licensing and permits, providing a seamless transition of ownership.

Risk Management: Identifying and managing potential risks is integral to the acquisition process. Our proactive approach to risk management involves detailed analysis and strategic planning to mitigate these risks, ensuring that your investment is secure.

Arrange a consultation with our Small Business Lawyers for sensible small business-focused legal advice.

Why Choose Burgess Thomson for Advice on Purchasing a Business

  • Experienced Legal Professionals: Our team is composed of seasoned lawyers who specialise in the realm of business acquisitions, offering you the benefit of years of legal expertise.
  • Client-Centric Approach: We prioritise your needs and objectives, offering personalised legal strategies that are tailored to your unique business purchase scenario.
  • Comprehensive Due Diligence: Burgess Thomson is thorough in conducting due diligence to ensure you have a clear picture of the business you are acquiring.
  • Strategic Negotiation Skills: Our lawyers are adept at negotiating terms that align with your interests and ensure a favourable outcome.
  • Robust Contractual Documents: We produce and review legal documents with a meticulous eye, ensuring that every contract protects your interests to the fullest extent.
  • Regulatory Compliance Assurance: Our legal counsel ensures that your business purchase complies with all relevant regulations, avoiding potential legal pitfalls.
  • Risk Mitigation Strategies: We identify risks and offer comprehensive strategies to mitigate them, protecting your investment and providing peace of mind.
  • Transparent Communication: Throughout the purchasing process, we maintain open lines of communication, ensuring you are well-informed and confident in your decisions.


In choosing Burgess Thomson, you are partnering with a law firm that is deeply committed to your success in buying a business. Our legal guidance is grounded in a profound understanding of business law, a commitment to excellence, and a dedication to achieving the best possible outcome for our clients. Whether you are stepping into the business world for the first time or expanding your existing portfolio, Burgess Thomson is the trusted advisor you need to navigate the complex process of business acquisition.

Contact us or request a quote to learn more about how our skilled team in Newcastle can help with advice on purchasing a business.


As with any business transaction, the parties involved are inherently motivated by self-interest. One consequence of this motivation is the possibility that the seller of a business may mislead you. It is critical that information is not taken at face value, you must make enquiries and be satisfied that the information provided to you is a fair representation of the business. The best way to do this is to conduct due diligence.

Due diligence involves, you, the purchaser, reviewing and verifying the information provided to you about the business. One common example is financial due diligence, where you analyse the businesses financial statements, assets, operating costs and other factors that could impact the financial viability of a business. The questions you must consider include:

  • Can the business operate to make a profit year on year?
  • What condition are the assets in?
  • Are the assets owned by the business, are they leased, subject to licences etc?
  • Who are your competitors and what is your competitive advantage?
  • Will I need to hire any new employees?
  • What stock or inventory is included in the purchase?

Due diligence often occurs before signing an agreement to purchase the property, but alternatively can be done in a due diligence period agreed to by the parties whereby the agreement could be terminated if you were not satisfied with the business after conducting your due diligence. Broadly, the process can involve some or all of the following steps:

  • Your acting solicitor or accountant requests authority to inspect certain documents or physical premises, or assets.
  • Authority is granted and the documents or access to the premises or assets are provided.
  • The documents, premises, assets or otherwise are reviewed.
  • If any further information is required, it is requested by your acting solicitor or accountant.
  • The further information is obtained and reviewed.
  • The due diligence report is prepared.
  • On the basis of the due diligence report, you decide whether to go ahead with the purchase

If the seller of a business is concerned about the confidentiality of any information provided to you and is reluctant to provide it due to fear of the information becoming public, the following options may be considered:

  • The parties agree to enter a confidentiality agreement; or
  • A special condition is added to the Contract stipulating the confidentiality requirements to be imposed on the purchaser.

If any information is still not provided to you, this may be all the information you need to decide whether to proceed with the purchase.

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