A Business Purchase Agreement is a legal contract upon which sellers are supposed to transfer business to buyers according to the terms and conditions specified in the document. The agreement should include the list of assets that are going to be purchased by the buyer. Along with the rights to the business, it can include accounts, real estate, equipment, etc.
This kind of agreement documents the whole process of transferring a business to a buyer, that's why it's necessary to include all of the important items in the contract. Specifying the details is the key to a deal where all parties will be satisfied with the result.
You can download our Business Purchase Agreement template through the link below or create your own document with our online form-builder.
A Business Asset Purchase Agreement should be used by individuals who are looking to transfer the ownership of their business. If an individual wants to make an offer and buy the rights to a business, they should consider using it as well. The agreement can help both sides obtain necessary data about each of them and the business itself, as well as legally bind them to follow any obligations they have stated in the document. Not having the agreement might end up with bad results for both sides, such as unknown liabilities or a lack of rights to make the deal.
When making a "Purchase of Business" Agreement, the filer should follow a certain structure in order not to miss important items that can affect the whole deal. The necessary sections include the following:
Purchasing a business is a complex process. Under a Business Purchase Agreement, a buyer can purchase a company's assets or shares. Assets include items like the premises, contracts, machinery, etc. In this case, a buyer is entering into an agreement with the company itself. Buying shares means that an individual will purchase not only assets but liabilities as well, from a shareholder - a person who holds a title of ownership of a share in a business. Therefore, the contract will be signed between a buyer and a shareholder.
Haven't found the form you are looking for? Check out these similar templates: