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Small Business Sale Contract
"I need a Small Business Sale Contract for selling my Singapore-based coffee shop including all equipment and recipes, with completion planned for March 2025, and I want to include a 2-year non-compete clause for the local area."
1. Parties: Identification and details of the buyer and seller
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 be completed
6. Warranties and Representations: Seller's assurances about the business
7. Governing Law: Specification of Singapore law as governing law
1. Employee Transfer: Terms for transferring employees when staff are included in the business sale
2. Property Assignment: Terms for transferring property when real estate is included in the sale
3. Intellectual Property: Terms for transferring IP rights when the business includes significant IP assets
4. Non-Compete: Restrictions on seller's future business activities when protecting the business's goodwill is crucial
1. Schedule 1: Assets List: Detailed inventory of assets being transferred
2. Schedule 2: Financial Statements: Recent financial statements of the business
3. Schedule 3: Employees: List of employees and their terms of employment
4. Schedule 4: Contracts: List of ongoing contracts and obligations
5. Schedule 5: Intellectual Property: List of IP assets being transferred
6. Schedule 6: Properties: Details of any real estate included in the sale
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