Rely on our M&A expertise
Business succession is something every entrepreneur will eventually have to deal with. A well-prepared handover makes it easier to ensure the company’s continued success even after it has been sold.
Often, the company is handed down to family members or employees. If that is not possible, other successors must be found—in which case, selling the company is a good alternative.
As attorneys, we have extensive expertise in the field of M&A.
Whether you’re a small or medium-sized business (SMB), a startup, a family-owned business, or a growing company, we’ll help you plan ahead, develop a strategic approach, and successfully sell your business.
Our Services Related to Succession Planning
Consultation & Initial Meeting
Business Sales & Succession
Acquisitions & Takeovers
Due diligence audits
Contracts
Negotiations
What You Can Count On From Us
In-house support
We are familiar with your case and will provide you with personal, direct support every step of the way at our law firm. We take the time to address your concerns and create a solid foundation during the uncertain process of selling.
Specialization
We specialize in key areas of law relevant to the sale of a business (corporate, contract, and business law). This combination of expertise allows us to provide you with optimal support in the purchase and sale of a business.
Customized Strategies
Every purchase and sale is different: the requirements, the potential buyers, and the company’s goals. We’ll work with you to develop a customized strategy—without pressure, without empty promises, and with legal certainty.
What our clients say
Competent advice at eye level. Pleasant atmosphere and easily accessible office location. In the course of the free annual consultation, we were able to evaluate the upcoming milestones for our company in a constructive and practical manner.
Mr. Schaunig did a wonderful job of introducing us to the possible approaches. Competence, openness and the necessary portion of humor are always on board. – Thank you very much!
BW Badtraum & Wohnraum GmbH
I would like to thank Mr. Schaunig for his excellent support in the purchase of my property. From the initial consultation to the final contract processing, I felt that I was well looked after. His professional expertise in real estate law, his clear communication and his forward thinking gave me a lot of security in a complex purchase process.
I particularly appreciate his calm, structured manner and his willingness to respond to individual questions and concerns. You immediately notice that he works with a lot of experience and care. I am very grateful for the professional support and can recommend Mr. Schaunig without reservation.
Robert Trojan
A true professional with heart! From the very first conversation, I felt that I was in good hands. The advice was transparent, honest and very focused. Every wish was taken seriously and implemented in the best possible way. If you are looking for a reliable, friendly and extremely competent lawyer, Mr. Schaunig is the right person for you.
NEXTGEN Media
5 Steps to Selling Your Business
1. Initial Consultation
We analyze your company’s current situation and assess its goals and sales opportunities. You’ll receive initial ideas for a potential M&A strategy as well as legal advice. We’ll take the time to answer your questions. This initial consultation is non-binding and free of charge.
2. Strategy & Due Diligence
Now we move on to detailed preparation and the development of a customized strategy. We also conduct due diligence for both sellers and buyers, during which we examine, among other things, the opportunities and risks from an economic, legal, and tax perspective.
3. Negotiations
We prepare for negotiations with prospective buyers. In addition, we are happy to handle the negotiations ourselves, conduct discussions, and present the offer. We assess how reputable the potential buyer is and whether you truly wish to sell your business to that prospective buyer.
4. Contracts
We draft and/or review purchase and assignment agreements for you. In doing so, we prioritize clarity and legal protection—so that you don’t run into any problems later on.
5. Handover
Last but not least, we’ll also support you through the final handover of your business. We’ll resolve any remaining issues, prepare the necessary documents, and be there for you every step of the way.
Always with you
At every single step of the business sale process, we prioritize confidentiality, discretion, and legal certainty. As attorneys, we answer your questions and ensure that your sale is legally sound.
Types of Sales
When it comes to business succession through a sale, there are two types of sales.
Both types of business sales require different considerations in terms of preparation and strategy.
As attorneys, we offer a range of services to assist you with the sale and purchase of businesses. We’re happy to assist you in Austria and throughout Europe!
3 Mistakes You Should Avoid
If you want to sell your company, you’re facing a major challenge.
1. Anonymity at Any Cost
Sometimes it makes sense to keep the sale of the company under wraps for an extended period. However, sometimes this can also fuel uncertainty. This is especially true if you’re nearing retirement and your employees, customers, and suppliers are already wondering what the future holds for the company.
Communicating your plans (relatively) early on can provide greater certainty: As an employee, will I keep my job? As a supplier, will the company remain my client? Is there going to be a takeover, or will the company close?
2. Employees do not contribute to the company’s value
Your employees also play a role in the sale of the company, its valuation, and succession planning. Perhaps not every single one, with their individual character and personality, but rather the very fact that there are employees at all.
After all, an existing customer base or high-quality services can only be maintained or delivered if there are employees available to handle these tasks. Unless the buyer brings a large number of their own employees with them, they will therefore also consider this factor.
So, to prevent employees from resigning as a precautionary measure—which would cause the company’s value to decline—you should go back to Point 1: Communicate early and openly that you want to sell the company, what the future holds, and so on. This will help you avoid uncertainty and allow you to provide your employees with a concrete plan for the future of the company and their jobs.
Something to keep in mind in this context: If you own a GmbH, the employment contracts were entered into with the GmbH—not with you as the employer. The GmbH continues to exist following a succession—and therefore, the employment contract remains unchanged. However, even in the case of sole proprietorships and partnerships, termination based on a takeover or transfer is not valid.
3. Do not have contracts reviewed
In sales contracts, even seemingly innocuous wording can make a big difference. If signed without careful consideration, a sales contract can therefore quickly lead to misunderstandings and disputes later on.
As attorneys with extensive knowledge and expertise in contract law in Austria, we review your contract sentence by sentence or draft a legally sound contract from scratch.
FAQ – Frequently Asked Questions About Selling a Business
What are the different forms of succession?
Business succession can take many forms: a transfer within the family or to employees, a merger with other companies in the industry, the involvement of third parties, or, finally, the sale of the company.
How long does it take to sell a company?
Anyone looking to sell a business should plan on at least one year for the entire process (from the initial consultation to the final sale). However, this is only a rough estimate. For some companies, the search for a successor alone can take a year or more, depending on the industry or the company’s location.
How does the sale of a company work?
At our law firm, we follow this process: initial consultation and advice, developing a strategy, preparing for and conducting negotiations, reviewing and drafting contracts, and providing support during the final closing. Important: We are primarily your partner for legal matters, contracts, and negotiations. However, we do not perform business valuations.
How do I find a buyer?
Finding the right buyer isn’t always easy. An important first step, therefore, is a personalized consultation to determine who the appropriate target group is for the acquisition and whether a transfer within the family or the involvement of third parties might be a viable option.
At our law firm, we provide professional and personalized advice—so that you can make the decision that’s right for you.
How can a lawyer specializing in M&A help me?
As lawyers based in Austria, we guide you through the entire sales process, assist you in drafting contracts, and support you during sales negotiations. This ensures you have the necessary legal safeguards in place to avoid problems, ambiguities, and disputes from the very beginning.
Are there any mistakes I should avoid when selling?
In addition to common mistakes such as planning too late or submitting incomplete documentation, there are other factors you should consider:
For some companies, discretion during the sales process is essential. For others, it may make sense to inform employees, suppliers, and others earlier on. It’s important to consider during the preparation phase what the right approach is for your specific situation.
You should also keep in mind that your employees and their contributions add value to the company. Make sure to communicate clearly to avoid (preemptive) terminations.
Finally, you should have a lawyer thoroughly review contracts before you sign them or send them to a contracting party. This will help you avoid legal pitfalls right from the start.
Arnulf Schaunig –
Law firm Vienna
Your direct contact
Your direct contact