Products tagged with 'sale of business assets'

Set the terms for payment of royalties on intellectual property with this contract template for Canadian businesses.

• This agreement covers royalties accruing on intellectual property that was developed by the seller, which is being transferred to a purchaser as part of a transfer of business assets.
• The intellectual property will continue to be used by the purchaser in connection with the business operations, and royalties will continue to accrue.
• The purchaser agrees to pay the seller an ongoing royalty for a specified number of years following the closing of the purchase and sale transaction.
• The royalty will be calculated based on the customer base and non-exempted gross earnings of the business.
• This Royalty Agreement refers to the laws of Canada. It can be used in any Canadian province or territory. A French language version may be required in Quebec.

Sell the assets of a franchise business to a new franchisee with this Asset Purchase Agreement for Canadian franchises.

• The purchaser will purchase the assets of the franchise business, including inventory, parts and any equity the vendor has in the leased equipment.
• The purchaser will assume the responsibilities of a franchisee under the main Franchise Agreement with the franchisor.
• The purchaser is not obligated to assume or perform any obligation of the vendor except for the equipment leases which the purchaser has accepted prior to closing.
• The purchaser will assume the premises lease from the vendor.
• The purchase price is (i) cost less depreciation for inventory for inventory and (ii) actual cost for parts.
• The Asset Purchase Agreement is governed by Canadian laws. It does not contain references to specific provincial franchising laws and regulations and can be modified for use in most provinces and territories of Canada except for Quebec.

This standard form USA Asset Purchase Agreement includes a set of schedules and documentation you need to transfer the assets of the business from the seller to the buyer. The package contains:

1. Asset Purchase Agreement setting out the terms and conditions of the purchase and sale;
2. Schedule of Definitions used in the Agreement;
3. Representations and warranties of the seller regarding the corporate status of the business, contractual obligations, taxes, financial statements, condition of the assets, and other material items;
4. Miscellaneous standard contract provisions, including a bulk sales law compliance provision;
5. Non-Competition Agreement to be signed by the seller.

You can customize and tailor the USA Asset Purchase Agreement template to fit the specific conditions of your transaction. This digital download can be used for brokered and non-brokered sales.

Succession planning is vital to the survival of small businesses. This Sole Proprietorship Buy-Sell Agreement can help ensure the continuity of yours.

• The Agreement is between the owner of a sole proprietorship and an employee who wants to purchase the business when the owner dies, as both parties want the business to continue to exist.
• On the death of the proprietor, the executor or administrator of the estate will sell the business to the employee.
• The employee will finance the purchase through proceeds of a life insurance policy on the life of the proprietor.
• The purchase will include all real property, accounts receivable and other assets of the business.
• The parties will jointly determine the value of the business at the end of each fiscal year.
• This is a generic legal contract template which does not contain specific references to the laws of any country and can be used in most common law jurisdictions.

Transfer depreciable property as part of the sale of a business in Canada with this Property Transfer Agreement.

• The parties agree that the property is being transferred at fair market value.
• The purchaser agrees to issue shares in its capital stock to the seller and assume any outstanding encumbrances on the property as payment of the purchase price.
• The parties agree to make a joint Section 85(1) election under the Income Tax Act (Canada).
• The parties mutually indemnify each other with respect to the transfer.
• The agreement sets out the manner of arriving at an agreed amount for depreciable property subject to subsection 85(5.1) of the Act, and eligible capital property subject to subsection 248(1).
• The parties intend that the purchase price for the assets be an amount equal to the fair market value of the assets at the date of the agreement.
• This template is available in MS Word format, and is fully editable to fit your circumstances.
• This legal document is governed by Canadian tax laws.

Selling shares or assets of a Canadian business? Provide the purchaser with this Affidavit of Residency of Vendor.

• The Affidavit is made under section 116 of the Income Tax Act (Canada).
• The Affidavit must be sworn by either the vendor (if an individual) or a corporate officer (if the shares being transferred are owned by a company).
• The vendor attests that it is not a non-resident of Canada, as that term is defined in the Income Tax Act.
• This free form is provided in MS Word format. Easy to download, print and fill in.
• Intended for use only in Canada.