Business Purchase Agreement - Shares

Business Purchase Agreement - Shares

Pricing: $72

Delivery Timeline: Next Day

A business purchase agreement is a contract made during the transfer of the ownership of a business from the business owner to the purchaser. The purchase agreement can be made to transfer either the assets of a business or the shares of a company. Lawyak creates business purchase agreements as a legally enforceable contract to ensure that both the buyer and the seller shall abide by their promises and confirm the terms and conditions of the agreement made.

 

A business purchase agreement is also known as:

  1. Business Transfer Agreement

  2. Business Sales Agreement

  3. Business Purchase Contract

  4. Business Takeover Agreement

  5. Agreement to Sell Business

 

What Information Does a Business Purchase Agreement Include?

  1. The terms of the sale that is being conducted

  2. The assets that need to be included for transfer (e.g. equipment, inventory, number of shares)

  3. The assets that are excluded from the sale (e.g. bank balances, accounts receivable)

  4. The mode of payment

  5. The warranties and optional clauses to protect both the buyer and the seller

 

What are the Requirements of a Business Purchase Agreement?

A business purchase agreement will essentially cover the following details:

  1. The Business: Description of the company, asset, or the stock that is being transferred.

  2. The Closing Date: The dates when the purchaser will make the payments and the seller will deliver the asset.

  3. The Confidentiality Clause: Both the buyer and the seller must confirm to not share the business transfer details.

  4. The Non-Competition Clause: The seller promises the condition to not compete with the business.

  5. The Non-Solicitation Clause: The seller promises to not hire any former employees after the sale.

  6. The Parties: Specifying the details of the seller and the buyer

  7. The Purchase Price: The payment amount of the transfer along with any deposits or financing.

  8. The Representations of Warranties: Each party needs the statements of the facts or terms of the business, asset, and authority’s entry on the transaction.

 

When You Need the Business Purchase Agreement?

Whether you are the buyer or the seller of a business asset, all the transaction details must be confirmed and documented in the business purchase agreement. This legal agreement prevents both the buyer and the seller from disputing when:

  1. The business owner might require the power to sell the business asset.

  2. The business or the company lacks the needed license, permits, and authorizations to operate.

  3. The financial statements haven’t been examined through a certified public accountant.

  4. The accounts receivable may be subject to counterclaims.

  5. The obligations or liabilities need to be paid.

  6. The dividends are unexpectedly paid or set aside.

  7. The salaries and benefits to employees of a company are unexpectedly increased.

  8. The existing condition of the company doesn’t match the purchaser’s understanding of the place.

 

Why Lawyak?

  1. Personalized legal documents and services for your business’ needs.

  2. Business owners will receive their Business Purchase Agreements faster and efficiently.

  3. Our experienced lawyers are well-versed with the constantly changing array of laws and regulations in all sectors. This ensures that all your legal processes adhere to the latest laws.

  4. Client’s problems are closely understood and confusions, questions, and disputes regarding the business purchase and share transfer agreements are quickly resolved.

  5. Requested legal documents and services can be accessed directly from your desktop or smartphone.

 

To obtain business purchase agreements quickly without any hassles, contact Lawyak.

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©2018 by Lawyak. Website & Marketing By Rapid Boost Marketing

Address: Prowse Chowne LLP

#1300 Phipps-McKinnon Bldg.

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Canada T5J 3G2

Phone No:     866-881-2462

Fax:                  780 439 0475

Email:             contact@lawyak.com

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