You have possibly spent years constructing and investing in the business, establishing relationships with your client base and constructing your reputation. After all this selling a business is a very big and tough decision but if you have decided to sell your business then it’s time to move on. You must make sure that all things are done correctly, you get a decent price and the sale goes trouble-free.
At this point, Business sale agreement gets its importance. Having a complete and legally correct Business sale agreement makes the transition in ownership process smooth. Not having a proper business sale agreement can put you in adverse situation if things turn sour. Generally, seller provides the Business sale agreement and you can create it personally or hire a lawyer for it. It is advisable to consult a lawyer as the buyer will also get the sale agreement checked by his lawyer and may need some changes so, it is better to leave it to the professionals.
Hence to get the professional advice, that you can rely on, contact our trained and skillful lawyers, we are just a call or email away.
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Business Sale Agreements require to be customized according to the needs of the seller. Some points that must be present in a sale contract are:
- Mentioning the parties – the seller and the buyer
- Clear explanation of the business to be sold
- Purchase price must be presented according to components like equipment, stock, IP and value of contract.
- Clear explanation of payment terms.
- Finance – the purchase is subject to 3rd party finance
- Type of intellectual property involved in the sale
- Clients contract included in sale
- Are you selling the businesses, or the assets that the business owns, or the actual company that runs the business?
- Your participation in the business after the sale.
Benefits of the agreement for you:
- Clearly price and fixed time for payment.
- Taking care of your good employees by securing them at a respectable position in the business with the new owner.
- Ensuring that any restrictions enforced on you are not troublesome and at the same time reduce any current liabilities.
If you want a proper sale agreement, contact us at Commercial Lawyers Perth. Our Commercial Business lawyer Perth can help you to design an agreement with keeping all your needs in mind.