December 2023 – Jonathan Harris & Michael Agiotis
If you are about to sell your dental practice, there are many things to put in order:
Restraint of Trade Clauses
Check the restraint of trade clauses in your employment or contractor agreements, so the risks to the practice of a key person leaving is minimised.
Old Security Interests
We spend a lot of time discharging old finance security interests granted years before. These were created to secure funding for fit-outs or dental equipment. Check the Personal Property Securities Register (PPSR) to see whether any security interests still exist over your assets.
Strata Issues
If your practice occupies a strata suite, have you confirmed that you have strata approval to capture and store hygienic waste? Where do you store your gas cylinders? Where are your air-conditioning condensers located?
Trading Name
Is your trading name registered?
These issues might appear minor, but they take time and cost money to sort out when you are selling your practice.