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Business Bill Of Sale

Business Bill Of Sale Template for Germany

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Key Requirements PROMPT example:

Business Bill Of Sale

"I need a Business Bill of Sale in German law for the transfer of my manufacturing company with 50 employees, including machinery, patents, and customer contracts, with completion planned for March 2025 and an earn-out provision based on the next two years' performance."

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Document background
The Business Bill of Sale is a crucial document used in German business transactions to formalize and execute the transfer of business ownership. It serves as the primary instrument for documenting the terms and conditions of the sale, ensuring compliance with German commercial law, including the BGB and HGB. This document is essential when selling or purchasing an entire business or a significant portion thereof, requiring careful attention to asset transfer, employee rights (particularly under §613a BGB), tax implications, and regulatory requirements. The comprehensive nature of a Business Bill of Sale requires detailed schedules of assets, liabilities, contracts, and other business elements, making it suitable for transactions ranging from small business transfers to complex corporate acquisitions. It must be drafted with particular attention to German legal requirements, including notarization if real estate is involved, and should address specific sector-related regulations where applicable.
Suggested Sections

1. Parties: Identification of the seller and buyer, including full legal names, registration numbers, and registered addresses

2. Background: Context of the sale, brief description of the business, and purpose of the agreement

3. Definitions: Definitions of key terms used throughout the agreement

4. Sale and Purchase: Core terms of the business transfer, including what is being sold and confirmation of the transfer

5. Purchase Price: Detailed breakdown of the purchase price, payment terms, and any adjustments

6. Closing: Conditions precedent, closing mechanics, and timing of the transfer

7. Assets Included in Sale: Comprehensive list of all assets being transferred as part of the business

8. Liabilities: Clear statement of which liabilities are being assumed by the buyer and which remain with the seller

9. Employee Matters: Provisions regarding the transfer of employees under §613a BGB

10. Seller's Warranties: Standard warranties regarding business ownership, assets, and operations

11. Tax Matters: Tax-related provisions and allocations between parties

12. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction for disputes

13. Miscellaneous: Standard boilerplate provisions including severability, entire agreement, and amendments

Optional Sections

1. Real Estate: Required when the business sale includes real property transfer

2. Intellectual Property: Detailed section required when the business owns significant IP assets

3. Environmental Matters: Required for businesses with environmental implications or permits

4. Post-Closing Covenants: Including non-compete and confidentiality provisions if agreed

5. Earn-out Provisions: Required when part of the purchase price is contingent on future performance

6. Data Protection: Detailed BDSG compliance section for businesses with significant personal data processing

7. Permits and Licenses: Required when the business operates under specific regulatory permits

8. Inventory: Detailed provisions for businesses with significant inventory

9. Customer and Supplier Contracts: Required when key contracts need specific transfer provisions

Suggested Schedules

1. Asset Register: Detailed list of all tangible and intangible assets included in the sale

2. Employee List: List of all employees with key employment terms and conditions

3. Financial Statements: Recent financial statements of the business

4. Material Contracts: List and copies of all material contracts being transferred

5. Intellectual Property Register: List of all IP rights owned or licensed by the business

6. Real Estate Details: Details of any real estate included in the sale

7. Permits and Licenses: Copies of all operational permits and licenses

8. Outstanding Liabilities: List of all liabilities being transferred or retained

9. Inventory List: Detailed inventory list if applicable to the business

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Assets
Assumed Liabilities
Business
Business Day
Closing
Closing Date
Confidential Information
Consideration
Contracts
Effective Date
Employees
Encumbrance
Excluded Assets
Excluded Liabilities
Governing Law
Intellectual Property Rights
Inventory
Material Adverse Change
Material Contracts
Permits
Purchase Price
Real Property
Retained Liabilities
Seller's Knowledge
Signing Date
Tangible Assets
Tax
Third Party
Transfer Date
Working Capital
§613a BGB Transfer
Handelsregister
Accounts
Bank Accounts
Business Records
Customer Database
Due Diligence
Equipment
Goodwill
Insurance Policies
Key Employees
Notarial Deed
Operating Assets
Purchase Price Adjustment
Registered IP
Scheduled Contracts
Statutory Books
Trade Secrets
Transaction Documents
Warranties
Clauses
Sale and Purchase
Purchase Price
Payment Terms
Asset Transfer
Liability Assumption
Employee Transfer
Warranties and Representations
Due Diligence
Closing Conditions
Closing Mechanics
Confidentiality
Non-Competition
Intellectual Property
Real Estate
Inventory
Customer Contracts
Supplier Agreements
Tax Matters
Insurance
Environmental Compliance
Data Protection
Regulatory Compliance
Business Records
Post-Closing Obligations
Third Party Consents
Force Majeure
Assignment
Notices
Amendments
Severability
Governing Law
Dispute Resolution
Entire Agreement
Costs and Expenses
Further Assurance
Time of Essence
Succession
Good Faith
Indemnification
Risk Transfer
Integration
Relevant Industries

Retail

Manufacturing

Hospitality

Professional Services

Technology

Construction

Healthcare

Automotive

Food and Beverage

Real Estate

Logistics

Agriculture

Education

Entertainment

Industrial Services

Relevant Teams

Legal

Finance

Human Resources

Operations

Tax

Compliance

Risk Management

Corporate Development

Mergers & Acquisitions

Executive Leadership

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Legal Counsel

Business Development Manager

Mergers & Acquisitions Director

Corporate Attorney

Tax Manager

Human Resources Director

Operations Manager

Finance Director

Business Owner

Managing Director

Compliance Officer

Commercial Director

Risk Manager

Industries
Bürgerliches Gesetzbuch (BGB): German Civil Code - Provides the fundamental framework for all contractual relationships, including sales contracts and transfer of ownership provisions
Handelsgesetzbuch (HGB): German Commercial Code - Contains specific provisions for commercial transactions and business-related contracts
Umwandlungsgesetz (UmwG): Transformation Act - Governs the legal transformation of companies, including mergers and business transfers
Betriebsverfassungsgesetz (BetrVG): Works Constitution Act - Relevant for employee rights and representation during business transfers
Umsatzsteuergesetz (UStG): Value Added Tax Act - Important for tax implications in business sales
Gesetz gegen Wettbewerbsbeschränkungen (GWB): Competition Law - May be relevant if the business sale could affect market competition
Bundesdatenschutzgesetz (BDSG): Federal Data Protection Act - Crucial for handling customer and employee data during business transfer
§ 613a BGB: Specific provision regarding the transfer of employment relationships during business transfers
Grunderwerbsteuergesetz (GrEStG): Real Estate Transfer Tax Act - Applicable if the business sale includes real estate
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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