Author: Nicholas Galle
When you’re investing time, effort, and money into buying a business, you want to make sure your new acquisition is safe from any moves by the previous owner. One way to do this is through a solid ‘restraint of trade’ clause in your sale of business contract or alternatively through a separate restraint deed. This clause is all about protecting you by preventing or limiting the seller from getting involved in, owning, or operating a competing business. Essentially, it stops the seller from running a similar business within a certain area for a set period. A good restraint of trade…
In Australia, the ownership of pharmacies is governed by specific regulations and guidelines aimed at ensuring quality healthcare services and accessibility to medications for all. Understanding the various pharmacy ownership structures is essential for pharmacists looking to establish or acquire a pharmacy business. This article aims to provide an overview of the different ownership models available. 1. Sole Proprietorship: A sole proprietorship is the simplest form of pharmacy ownership wherein a single individual owns and operates the pharmacy. The proprietor is fully responsible for the business’s liabilities and profits. This ownership structure provides the owner with complete autonomy and control…
Pharmacy Location Rules (PLRs) are a vital element of pharmacy operations in Australia, shaping the accessibility and competition within the healthcare sector. Comprehending the essence of these rules is essential for both current and prospective pharmacy owners. In this concise article, we will explore the significance of Pharmacy Location Rules and their implications for pharmacies across the nation. Foundation of Pharmacy Location Rules At their core, Pharmacy Location Rules are government regulations designed to ensure equitable access to essential pharmaceutical services. They form part of the broader framework of the Community Pharmacy Agreements, governing pharmacy services and government funding in…