Business Purchases And Sales

Professional advice and assistance is important when you are either buying a business or selling your own business. We work together with your accountant and business broker to ensure your transaction is successful.

Granville Law Group Lawyers Can Provide The Advice You Need When You Are Selling Or Buying A Business

A business purchase or sale is either a share transaction or an asset transaction. A few points to consider are:

  • A share sale is generally more beneficial to a seller due to the possibility of Tax Planning, for example, use of a lifetime capital gain exemption, and
  • An asset sale is generally preferred by a buyer due to reduced liability exposure that results from buying company assets as opposed to acquiring a corporation itself, thus, all of its obligations and liabilities.

Our lawyers will work with your accountant to discuss and recommend the most advantageous option for your business acquisition or sale. This is often determined by balancing ongoing financing requirements, liability concerns and tax consequences of the transaction.

Granville Law Group Is Experienced In Performing The Necessary Due Diligence And Preparing The Documentation Required To Protect Your Interests.

In addition to the business' bank loans and the security held by the bank for those loans, a buyer must consider a selling business' trade liabilities, accounts payable and its statutory obligations and liabilities to various levels of government: municipal, provincial and federal. These government liabilities are to various government agencies such as:

  • Canada Revenue Agency for Income Tax, GST and Payroll Deductions
  • WorkSafe BC
  • BC Provincial Sales Tax
  • Employment Standards

Discuss Your Matter With Our Legal Team

Contact us at 604-757-9385 or arrange a meeting using our online form to discuss your anticipated business purchase or sale. We will advise you on your particular situation and the legal costs to complete your transaction.