Law Tram simplifies the due diligence process when buying a business by connecting you with licensed Australian lawyers who can assess risks, review documents and explain your legal position. This fully online and obligation-free service ensures you receive clear guidance before making any decisions.
Legal due diligence is the process of investigating a business before you buy it. It helps you uncover risks, hidden debts, compliance problems, or other issues that may affect the value of the business or your ability to run it.
Skipping due diligence or relying solely on the seller’s information can lead to serious financial consequences. You may end up with tax debts, staff entitlements, or legal liabilities you didn’t expect.
Law Tram connects you with lawyers who can carry out proper legal due diligence and explain what to look for before you commit to any purchase.
Start by completing our secure online questionnaire. This step allows you to provide essential details about the business you are looking to purchase and your concerns about the deal.
Law Tram’s advanced technology generates a confidential legal summary of your situation while keeping your personal and commercial details private.
Your confidential legal summary is shared with our network of vetted lawyers who review your case to determine how they can assist.
If a lawyer believes they can help, they will initiate a chat with you through the Law Tram platform. Your contact details remain private unless you choose to share them.
You are under no pressure to retain any lawyer unless you are confident in their ability to assist. Law Tram empowers you to make informed decisions.
This page provides general legal information only. It is not legal advice and should not be relied on as such. Buying a business without legal due diligence can carry serious financial and legal risks. You should seek advice from an Australian Legal Practitioner before signing a contract or committing funds.
1. Note: “Free service” refers only to Law Tram’s platform and process, not the legal advice itself.
Law Tram offers a secure, efficient and supportive way to connect with lawyers who understand business due diligence. Whether you are assessing financials, reviewing contracts or investigating risks, our platform helps you access tailored legal advice before you commit.
Start your free, confidential online consultation today.
Take the first step toward buying a business with clarity and peace of mind.
It is the legal investigation of a business before buying it. It involves checking contracts, ownership, compliance, legal risks and other details that affect the transaction.
Yes. Financial due diligence focuses on profit and performance, while legal due diligence checks contracts, obligations, risks and ownership.
It should be done before signing the contract or paying a deposit. In some cases, it may occur during a conditional period in the contract.
That’s a red flag. A lawyer can help you request documents formally or advise if the deal should be reconsidered.
Brokers may help with the sale process, but only a lawyer can give legal advice and protect your legal interests.
A lawyer may check the business sale contract, leases, supplier agreements, licences, employment records, intellectual property, litigation history and any regulatory requirements that affect the business.
Timeframes vary, but most small business purchases require one to three weeks depending on how quickly documents are provided and how complex the business is.
Yes. Identifying risks or missing information can give you grounds to renegotiate price, request warranties or adjust the contract before you proceed.
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