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Small Business Transfer Agreement

Small Business Transfer Agreement Template for Ireland

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Key Requirements PROMPT example:

Small Business Transfer Agreement

"I need a Small Business Transfer Agreement for the sale of my Dublin-based coffee shop chain with three locations, including provisions for transferring lease agreements and protecting our unique coffee roasting processes, with completion planned for March 2025."

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Document background
The Small Business Transfer Agreement is a vital legal document used in Ireland when transferring ownership of a small to medium-sized enterprise from one party to another. It is particularly relevant for business sales where the transaction involves the transfer of assets, employees, contracts, and operational responsibilities rather than just share transfers. This agreement is designed to comply with Irish legislation, including the Companies Act 2014, Transfer of Undertakings regulations, and relevant tax laws. It provides comprehensive coverage of all aspects of the business transfer, including purchase price mechanisms, warranties, employee provisions, and post-completion obligations. The document is structured to protect both parties' interests while ensuring a smooth transition of business ownership.
Suggested Sections

1. Parties: Identification of the seller and buyer, including full legal names, registration numbers, and registered addresses

2. Background: Context of the transaction, brief description of the business, and purpose of the agreement

3. Definitions: Definitions of key terms used throughout the agreement

4. Sale and Purchase: Core terms of the transaction, including what is being sold and purchased

5. Purchase Price: Details of the consideration, payment terms, and any adjustments

6. Completion: Timing and mechanics of completion, including conditions precedent

7. Seller's Warranties: Standard warranties regarding business ownership, operations, and disclosed information

8. Buyer's Warranties: Basic warranties from the buyer regarding capacity and authority to enter into the agreement

9. Employee Matters: Treatment of employees and TUPE regulations

10. Business Assets: Detailed description of assets included in the sale

11. Liabilities: Assignment and assumption of liabilities

12. Post-Completion Obligations: Ongoing obligations after completion

13. Confidentiality: Confidentiality obligations of all parties

14. Governing Law and Jurisdiction: Confirmation of Irish law and jurisdiction

Optional Sections

1. Intellectual Property: Detailed section for businesses with significant IP assets

2. Property Matters: Required when business premises are owned rather than leased

3. Environmental Matters: Necessary for businesses with environmental impacts or obligations

4. Data Protection: Expanded section for businesses processing significant personal data

5. Non-Competition: Restrictions on seller's future business activities

6. Earn-out Provisions: For deals involving performance-based additional payments

7. Tax Covenant: Detailed tax provisions for more complex transactions

8. Third Party Consents: When key contracts or licenses require consent for transfer

Suggested Schedules

1. Schedule 1 - Business Assets: Detailed inventory of all tangible and intangible assets

2. Schedule 2 - Excluded Assets: List of assets explicitly excluded from the sale

3. Schedule 3 - Employees: List of transferring employees and their key terms

4. Schedule 4 - Properties: Details of business premises and property rights

5. Schedule 5 - Contracts: List of business contracts being transferred

6. Schedule 6 - Intellectual Property: Details of all IP rights included in the sale

7. Schedule 7 - Warranties: Full list of seller's warranties

8. Schedule 8 - Completion Requirements: Detailed list of completion deliverables

9. Appendix 1 - Completion Accounts: Pro forma completion accounts and adjustment mechanisms

10. Appendix 2 - Data Room Index: Index of due diligence materials provided

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions

















































Clauses



































Relevant Industries

Retail

Hospitality

Professional Services

Manufacturing

Technology

Healthcare

Construction

Food and Beverage

Automotive

Education

Real Estate

Agriculture

Transport and Logistics

Creative Industries

Relevant Teams

Legal

Finance

Human Resources

Operations

Corporate Development

Tax

Compliance

Executive Leadership

Business Development

Company Secretariat

Relevant Roles

Business Owner

Managing Director

Chief Executive Officer

Chief Financial Officer

Commercial Director

Business Development Manager

Corporate Lawyer

Legal Counsel

Finance Director

Company Secretary

Operations Manager

HR Director

Tax Manager

Business Broker

M&A Advisor

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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