FAQ
What if the assets being sold include intellectual property like trademarks or patents?
These templates include sections for assigning IP rights, but consult a business attorney to ensure compliance with registration requirements. Clearly list each asset’s details (e.g., patent numbers, trademark filings) and specify whether the buyer assumes all associated liabilities or infringement risks.
How do we handle contingencies, like the buyer securing financing or the seller obtaining necessary permits?
Most templates include contingency clauses with deadlines, but specify milestones tied to financing approvals or permit issuance. For example, set a 30-day financing contingency with a right to terminate if the buyer’s loan falls through, or require seller permits to be valid for 60 days post-signing.
Are there templates that address employee transitions, such as hiring former staff or non-compete agreements?
Yes, several templates include sections for employee transfers, non-solicitation clauses, and training obligations. Specify whether key employees are included in the sale or subject to retention agreements, and outline any restrictions on the seller from competing in the same market for a set period.
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