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Business Transfer Letter Template for Ireland

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Key Requirements PROMPT example:

Business Transfer Letter

"I need a Business Transfer Letter for the sale of my Dublin-based software development company to a larger tech corporation, with completion planned for March 2025, including transfer of 15 employees and various software licenses."

Document background
A Business Transfer Letter is a crucial document in Irish corporate transactions, used when one entity transfers ownership of a business to another. This document is particularly relevant when parties have already agreed to the principal terms of the transfer and need to formalize the arrangement in writing. The letter serves as an official record of the transfer terms, incorporating essential elements such as asset details, consideration, employee transfers, and any specific conditions. Under Irish law, it must comply with various regulations including the Companies Act 2014, European Communities (Protection of Employees on Transfer of Undertakings) Regulations 2003, and relevant tax legislation. While more streamlined than a full business transfer agreement, it provides a clear framework for the transaction and can serve as a basis for more detailed documentation if required.
Suggested Sections

1. Sender's Details: Full business name, address, and contact information of the transferring party

2. Date: Date of the letter

3. Recipient's Details: Full business name, address, and contact information of the receiving party

4. Subject Line: Clear indication that this is regarding a business transfer

5. Opening Statement: Formal introduction and reference to any previous discussions or agreements

6. Business Description: Clear identification of the business being transferred, including trading name, registration details, and location

7. Transfer Terms: Key terms of the transfer including the effective date and general scope

8. Consideration: Details of the agreed purchase price or other consideration

9. Key Assets: Overview of main assets included in the transfer

10. Employee Matters: Confirmation of employee transfer arrangements under TUPE regulations

11. Closing Statement: Request for acknowledgment and acceptance of the terms

12. Signature Block: Space for signatures of both parties

Optional Sections

1. Conditions Precedent: Any conditions that must be met before the transfer becomes effective, include if there are specific prerequisites

2. Intellectual Property: Specific mentions of IP transfer, include if the business has significant IP assets

3. Ongoing Obligations: Any post-transfer obligations or transitional arrangements, include if there are continuing responsibilities

4. Tax Matters: Specific tax considerations or arrangements, include if there are special tax implications

5. Regulatory Approvals: Reference to required regulatory approvals, include if the transfer requires specific regulatory clearance

6. Confidentiality: Confidentiality obligations, include if sensitive information is being discussed

Suggested Schedules

1. Asset Schedule: Detailed list of all assets included in the transfer

2. Employee Schedule: List of transferring employees and their key employment terms

3. Contracts Schedule: List of contracts being transferred

4. Liabilities Schedule: List of any liabilities being transferred or explicitly excluded

5. Due Diligence Summary: Summary of key findings from due diligence process

6. Payment Terms Schedule: Detailed breakdown of payment terms if complex consideration is involved

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions



























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Relevant Industries

Retail

Manufacturing

Professional Services

Technology

Healthcare

Hospitality

Financial Services

Real Estate

Construction

Transportation and Logistics

Education

Media and Entertainment

Agriculture

Energy

Telecommunications

Relevant Teams

Legal

Finance

Corporate Development

Human Resources

Operations

Compliance

Risk Management

Tax

Strategic Planning

Business Development

Executive Leadership

Company Secretariat

Relevant Roles

Chief Executive Officer

Managing Director

Chief Financial Officer

Corporate Lawyer

Legal Counsel

Business Development Manager

Mergers & Acquisitions Director

Company Secretary

Finance Director

Operations Director

Human Resources Director

Tax Director

Commercial Director

Risk Manager

Compliance Officer

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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