Business Sale Agreements, quick & stress-free.

A Business Sale Agreement is a legally binding document that outlines the terms and conditions of selling a business. This agreement is negotiated between the seller and the purchaser and covers important aspects of the sale, including the purchase price, how any disputes will be resolved, and which assets (such as property, stock, or intellectual property) are included as part of the sale.

Typically, the seller (along with their legal team) prepares the Business Sale Agreement to ensure all essential details are captured and both parties are protected. A well-drafted agreement helps avoid misunderstandings and ensures the sale process is smooth and compliant with legal requirements.

For more information, you can read further here.

A Business Sale Agreement isn’t just a formality—it’s the backbone of your deal. It lays out all the key terms, like the purchase price, the assets included in the sale, and any other details the parties have agreed upon. Without this document, misunderstandings or disputes can arise, which can delay or even derail the sale.

If you’re the buyer, a solid Business Sale Agreement ensures you’re getting everything you’ve agreed to—assets, stock, intellectual property—along with proper warranties from the seller. It gives you peace of mind that there are no hidden surprises.

For sellers, it’s equally vital. You want to ensure the agreement clearly states what you’re selling and the warranties you’re providing, while also protecting you from any ongoing liabilities after the sale. Having legal guidance helps you navigate these complexities and avoid any potential pitfalls down the track.

Before completing the sale of a business, it’s crucial to seek advice from a lawyer. A lawyer can help ensure that you fully understand all the terms of the Business Sale Agreement and that your rights are protected throughout the transaction. This legal advice ensures that both you and the other parties involved are well-informed about the implications of the agreement, particularly in relation to employees, property, and any ongoing liabilities.

In addition to legal advice, here are some key steps required before finalising the sale:

• Due Diligence: Conducting a thorough investigation of the business being sold, including its financials, assets, liabilities, and contracts, to ensure there are no hidden issues.
• Employee Considerations: Reviewing how the sale will impact employees, including their contracts, entitlements, and whether their employment will be transferred to the new owner.
• Transfer of Assets: Ensuring that all relevant assets (such as property, stock, and intellectual property) are clearly documented and transferred as part of the sale.
• Settling Outstanding Debts: Confirming that any outstanding debts, taxes, or liabilities are addressed before the sale is completed.
• Regulatory Compliance: Making sure the business sale complies with any regulatory or industry-specific requirements.

Completing these steps will help ensure that the sale process is smooth and legally sound, protecting both parties involved in the transaction.

While a template might seem like a convenient option, it’s often too generic to account for the specific needs of your business, especially if it operates in a niche industry. Every business sale is unique, with varying assets, liabilities, and obligations that need to be carefully addressed in the agreement. A one-size-fits-all template can overlook important details, which may lead to costly disputes or complications later on.

By working with a lawyer to tailor a Business Sale Agreement to your specific situation, you can ensure that all critical aspects—such as warranties, asset transfers, and liabilities—are properly addressed. This personalised approach helps avoid potential legal pitfalls and ensures that nothing important is missed, giving you peace of mind throughout the sale process.

Our fixed-fee Business Sale Agreement packages start at $1500 + GST. This includes a Business Sale Agreeement drafted to meet your specific requirements, phone consultations with an expert Sprintlaw lawyer and a complimentary amendment to the final draft we provide to you.