Business sale agreement: Internet-based; no stock or physical assets
Comprehensive internet business sale agreement with all
standard provisions as well as guidance notes
About this document
These are agreements for the sale of any type of business by either a limited liability partnership, a company, a by one or more individuals. Net Lawman also host agreements for sale of a company, with or without a business.
First, we cover matters common to most or all of the agreements, then we look at each document in turn.
Who will use these documents?
Any individual or company selling or buying a business or enterprise of any sort. It is usual for the Buyer to provide the sale agreement. However, Sellers can gain an advantage by obtaining the agreement first and making preliminary edits in your favour.
Application
and features
Suits any type of trade or business
Extensive use of warranties to encourage full disclosure by the seller Note: warranties have been used only so far as appropriate to the subject matter of the sale
Designed for the deal to be completed on the same day, not at some future time
Purchase price apportioned among the assets to simplify tax planning
Comprehensive list of matters to be done before completion and documents to be handed to the buyer
Full account taken (for Internet businesses) of intellectual property issues such as domain name transfers and web site hosting
Provisions to inhibit the seller setting up in competition
Terms to cover transfer of leasehold and freehold property (if applicable)
Choose from up to 90 individual warranties where required
Contents
Terms of the agreement for sale and list of subject matter of sale
Provision of purchase price, when and how it is to be paid
Practical steps required to complete the transaction
Dealing with counting and hand over of stocks
Responsibility for creditors and debtors
Seller’s warranties
Seller’s future activities
Mediation of a dispute before court action
Other legal issues to negotiate and account for
Word
Count (approximate):
Document: 4720
words
Explanatory notes:
1585
words
Draftsman
This document is drawn and maintained by Net Lawman. It is real law in plain English.
