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Business Sales Agreement Contract
"I need a Business Sales Agreement Contract for the sale of my manufacturing company with 50 employees, including machinery assets worth £2.5M and intellectual property rights, with completion planned for March 2025."
1. Parties: Identification and details of the seller and buyer
2. Background: Context of the sale and brief description of the business
3. Definitions: Key terms used throughout the agreement
4. Sale and Purchase: Core terms of the transaction including price and payment terms
5. Completion: Details of when and how the sale will complete
6. Warranties: Seller's assurances about the business
7. Indemnities: Protection against specific identified risks
1. Employee Provisions: TUPE implications and employee transfer terms - use when employees are being transferred
2. Intellectual Property: Transfer of IP rights - use when significant IP assets are involved
3. Post-Completion Obligations: Ongoing commitments after sale - use when there are continuing obligations
4. Non-Compete Provisions: Restrictions on seller's future activities - use when protecting goodwill is crucial
1. Asset Register: Detailed list of assets being transferred
2. Property Schedule: Details of any property included in the sale
3. Employee Information: List of transferring employees and their terms
4. Intellectual Property Schedule: Details of IP rights being transferred
5. Contracts Schedule: List of contracts being assigned or novated
6. Warranties Schedule: Detailed warranties given by the seller
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