The Small Business Sale Agreement is a crucial document used when transferring ownership of a small business in the United States. It's particularly relevant for transactions involving businesses with annual revenues typically under $5 million. This agreement covers all aspects of the sale, including asset transfer, employee transitions, intellectual property rights, and ongoing obligations. It must comply with both federal regulations and state-specific business transfer laws. The document is essential for protecting both parties' interests and ensuring a smooth ownership transition. It's commonly used in situations ranging from retirement sales to strategic acquisitions.
Small Business Sale Agreement for the United States
Create a bespoke document in minutes, or upload and review your own.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Get your first 2 documents free
Your data doesn't train Genie's AI
You keep IP ownership of your information
Key Requirements PROMPT example:
Small Business Sale Agreement
"I need a Small Business Sale Agreement for selling my family-owned restaurant in California, including all kitchen equipment and recipes, with a planned closing date of March 15, 2025, and I want to include a 2-year non-compete clause for the local area."
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let ¶¶Òõ¶ÌÊÓƵ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identification and details of the buyer and seller
2. Background: Context of the sale and brief description of the business
3. Definitions: Key terms used throughout the agreement
4. Purchase Price and Payment Terms: Details of consideration and payment structure
5. Assets/Shares Being Sold: Specific description of what is being transferred
6. Closing Conditions: Requirements that must be met before sale completion
7. Representations and Warranties: Statements of fact and assurances from both parties
8. Covenants: Ongoing promises and obligations of the parties
9. Indemnification: Protection against losses and liabilities
10. Termination: Circumstances under which the agreement can be terminated
11. General Provisions: Miscellaneous legal provisions including governing law, notices, and amendments
1. Employee Matters: Terms regarding staff transition and employment arrangements - used when employees are being transferred with the business
2. Intellectual Property: Terms regarding IP transfer and protection - used when the business owns significant IP assets
3. Real Estate: Terms regarding property transfer - used when real estate is included in the sale
4. Environmental Matters: Environmental compliance and liabilities - used when the business has potential environmental impacts
5. Non-Competition: Restrictions on seller's future business activities - used when protecting the business's competitive position is crucial
1. Schedule A - Asset Schedule: Detailed list of all assets included in the sale
2. Schedule B - Inventory List: Current inventory being transferred
3. Schedule C - Equipment List: Detailed list of equipment included in sale
4. Schedule D - Contracts Schedule: List of contracts being assigned/transferred
5. Schedule E - Employee Schedule: List of employees and their key terms of employment
6. Schedule F - Intellectual Property Schedule: List of all IP assets being transferred
7. Schedule G - Due Diligence Checklist: Comprehensive list of documents reviewed
8. Schedule H - Assumed Liabilities: Detailed list of liabilities being assumed by the buyer
Authors
Relevant legal definitions
Clauses
Relevant Industries
Relevant Teams
Relevant Roles
Find the exact document you need
Administrative Assistant Confidentiality Agreement
A U.S.-compliant confidentiality agreement protecting sensitive information accessed by administrative assistants during their employment.
find out more
Small Business Sale Agreement
A U.S.-governed agreement for the sale and transfer of ownership of a small business, detailing terms, conditions, and obligations of both buyer and seller.
find out more
Private Real Estate Sale Contract
A U.S.-governed legal agreement documenting the private sale and transfer of real estate property between parties.
find out more
Company Sales Agreement
A U.S.-governed legal agreement documenting the terms and conditions for the sale and purchase of a business entity.
find out more
³Ò±ð²Ô¾±±ð’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)