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Sales Agreement

Written by: Start Your Business

Article Overview: The sales agreement is the key document in buying the business assets or stock of a corporation. It is important to make sure the agreement is accurate and contains all the terms of the purchase. It would be a good idea to have an attorney review this document. It is in this agreement that you should define everything that you intent to purchase of the business, assets, customer lists, intellectual property, and goodwill.

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Sales Agreement

Sales Agreement

The sales agreement is the key document in buying the business assets or stock of a corporation. It is important to make sure the agreement is accurate and contains all the terms of the purchase. It would be a good idea to have an attorney review this document. It is in this agreement that you should define everything that you intent to purchase of the business, assets, customer lists, intellectual property, and goodwill.

The following is a checklist of items that should be addressed in the agreement:

* Names of Seller, Buyer, and Business
* Background information
* Assets being sold
* Purchase price and Allocation of Assets
* Covenant Not to Compete
* Any adjustments to be made
* The Terms of the Agreement and payment terms
* List of inventory included in the sale
* Compliance with the Bulk Sales laws of the state
* Any representation and warranties of the seller
* Any representation and warranties of the buyer
* Determination as to the access to any business information
* Determination as to the running of the business prior to closing
* Contingencies
* Possibilities of having the seller continue as a consultant
* Fees, including brokers fees
* Date of closing

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About the Author: Start Your Business
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Starting a business requires you to complete a number of steps and make some key decisions. Though part of your overall plan, you’ll need to select a location, decide on a business structure, and obtain the necessary licenses and permits. In addition, determining which financing options will meet your short-term needs and long-term goals is crucial. Within this section, we’ll provide information on these topics along with guidance on buying an existing business, copyright and trademark issues, and getting support from an outside expert.

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Re: Online Sales and Marketing vs Traditional Re: Online Sales and Marketing vs Traditional - [quote="ltrahan":31w9r2iz]Hi Evan, I am noticing that many of the posts in the Sales/Marketing section deal with online marketing, SEM and and SEO and Affiliates. I was wondering if it might be a good idea to separate that section into two; 1) Online Sales and Marketing; 2) Traditional Sales and Marketing[/quote:31w9r2iz] I second the request...
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