[NZ] Buying a Business 101: Negotiating For Success | LegalVision

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When buying a business, it’s essential to understand the process to reduce your risks and set the stage for a successful transition. This includes negotiating the terms of the sale and purchase agreement and finalising the settlement.

To help you successfully purchase a business, Nina Vanderlaan (Senior Associate) and Rebecca Smith (Associate) discuss:

key steps in the purchase process;
when to sign a Heads of Agreement;
the purpose of due diligence and other conditions;
how to protect yourself from future risks; and
common pitfalls to avoid during the process and after completion.

About Nina Vanderlaan
Nina is a Senior Associate in LegalVision’s Corporate and Commercial team. With her mix of private practice and in-house experience, Nina can provide LegalVision’s startup, SME, and enterprise clients with high-quality, pragmatic advice on a range of general corporate and commercial matters.

About Rebecca Smith
Rebecca is an Associate in LegalVision’s Corporate and Commercial team and also assists the New Zealand team with Leasing. She can assist in a number of commercial transactions, including business sales and purchases, and provide advice around business structuring and asset protection.

Visit legalvision.co.nz or call 0800 005 570 to get in touch with our team.

00:00 Intro
01:35 Types of Business Purchases
03:45 NDA
05:30 Preparing for Negotiation and Effective Strategies
09:16 Negotiating the Terms of the Sale
10:58 Documenting the Agreement - Term Sheet
13:59 Documenting the Agreement - Agreement for Sale and Purchase of a Business
19:45 What is Due Diligence and Why Do It?
23:20 Due Diligence and Negotiations
26:03 Protecting Yourself from Future Risks
27:46 Settlement
30:05 Common Pitfalls After Completion
30:44 Tips for Avoiding Pitfalls
34:30 Q&A

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The information provided in this video is for general informational purposes only and does not constitute legal advice. While we aim to provide accurate and up-to-date content, laws and regulations may vary, and the information may not apply to your specific circumstances. We encourage you to contact us for a free consultation so we can provide advice specific to your circumstances.