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Business Law relates to the entire lifecycle from starting, running, growing to selling a business. Turner Hopkins has significant experience ensuring our clients receive sound commercial and practical advice to assist them in all legal matters relating to their business.

Our Business Law Services

Buying a Business

Deciding to buy a business is something that should not be taken lightly. It is essential that you get the advice you need to ensure you are making the right decision. Whether you are buying a small home franchise business or multimillion-dollar manufacturing business we have the expertise to help you get through each stage.

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Selling a Business

The process of selling a business starts long before a Sale and Purchase Agreement is signed. Anyone contemplating selling their business in the not too distant future should take steps to ready their business for sale. If you are looking at selling a business get in touch with us as soon as possible. We can assist you to understand what you need to do to get your business ready for sale and guide you as painlessly as possible through the process.

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Business structures

It is critical to choose the right business structure for your commercial requirements, as the structure will impact on many aspects such as start up costs, taxation matters, applicable tax rates and your legal obligations.  Limited Liability Companies are by far the most common vehicle operating in New Zealand for small to medium enterprises. They are cost effective to incorporate and provide a significant degree of limitation of liability in respect of business creditors.

Limited Liability Companies have a default set of governance rules that are embodied in the Companies Act 1993.

Business risk

It has become more prevalent in recent times to carefully assess business risks and from a borrower's perspective limit the risk to the immediate assets. Proprietors are no longer willing to simply offer guarantees with supporting collateral securities over houses, investment properties and other similar assets. It has become more commonplace to provide a limitation of collateral securities to a specified sum that is only necessary to fulfil the lender's funding criteria.

We also advise clients that it is important, where a family trust or other entity is called upon, to offer security securing a trading entities funding. The family trust should receive security from the company as consideration for the securities it is offering.

Shareholder disputes

When embarking on any commercial enterprise it is important for the parties to turn their mind to the potential for disputes in the future and agree upon a fair and cost effective method for dealing with these disputes.  Mediation through a formal and qualified mediator has become significantly more popular over the last ten years. It offers the advantages of speed, privacy and cost effectiveness.

There are other options including arbitration and litigation. We have at Turner Hopkins, experience in mediation, arbitration and formal litigation should you be required to embark on any of these processes.

Due diligence

This is an issue which must be considered carefully from both the vendor and purchaser's perspective. We believe it is appropriate to form a team of professionals to assist a vendor or purchaser throughout the due diligence period of a transaction to ensure comprehensive advice is obtained on all aspects of a transaction; including assets values, trading history, resource management issues, leasing issues, marketing and competition.

Financial structure

Turner Hopkins has in depth knowledge around financial structures, funding and finance. This is a complex area that we are only too happy to assist. There are both benefits, and, in some case disadvantages depending on the structure used which should be understood from the outset.

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