Buying a Business: Guide to Negotiating Terms

When you buy a business, negotiating the purchase price is only the beginning. Other key terms to consider include restraint of trade, a training period, and your lease. As you and the vendor will have different priorities, you must protect yourself by ensuring that essential terms are incorporated into your contract. To help you, this guide identifies the crucial terms you should negotiate with the seller to ensure you are legally protected when buying a business. It includes:

• when to undertake negotiations;
• the difference between a Heads of Agreement and Business Purchase Agreement;
• key terms you should negotiate;
• a final checklist; and
• signing the contract.