SA Selling of business, not the business name

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Fery39

Member
1 March 2020
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Is it possible to sell a business but not the business name?
the business has a physical location.
thanks.
 

Rob Legat - SBPL

Lawyer
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16 February 2017
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Gold Coast, Queensland
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Yes, but it has its complications. The business name is only a part of the business assets - there‘s stock, lease arrangements, staff, customer lists, trade connections, licences and so on. You’ll also need some advice as to whether GST will apply on the sale, as it may no longer be considered a going concern.
 
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Fery39

Member
1 March 2020
2
0
1
Yes, but it has its complications. The business name is only a part of the business assets - there‘s stock, lease arrangements, staff, customer lists, trade connections, licences and so on. You’ll also need some advice as to whether GST will apply on the sale, as it may no longer be considered a going concern.
Thank you. Will seek advice on the GST for the sale.
 

Palmkarl

Member
3 November 2020
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Florida Palm Coast
Yeah, of course, it is possible and it is not as hard as you think, but better to contact a lawyer to help you with such a question. I had a business some years ago, and after I sold it, I had some trials with the new owner, because when I sold my business, I kept the name of the company for myself, and there were also signed some long-term contracts with different companies like uscompanieslist.com and others. So, my client wanted to terminate the contract, but it was impossible before the limitation period and he sued me for that. Well, in the end, I won the case, but still. Use a lawyer, believe me, you won't regret it.