Simple Business Sale Agreement Template for Ireland

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Key Requirements PROMPT example:

Simple Business Sale Agreement

"I need a Simple Business Sale Agreement for selling my small retail business in Dublin, with a completion date of March 15, 2025, excluding the premises lease but including all inventory and equipment."

Document background
The Simple Business Sale Agreement is a fundamental legal document used in Irish business transactions for the transfer of business ownership from one party to another. It is particularly suitable for straightforward business sales where the transaction structure is relatively uncomplicated and the business being sold is a going concern. This agreement, governed by Irish law, typically includes provisions for the sale of business assets, transfer of employees, assignment of contracts, and handling of liabilities. It incorporates essential elements required under the Companies Act 2014 and other relevant Irish legislation, making it suitable for small to medium-sized business transactions. The document is designed to provide adequate protection for both parties while maintaining clarity and practicality in its terms and conditions.
Suggested Sections

1. Parties: Identifies and defines the Seller and Buyer with full legal names and registered addresses

2. Background: Describes the business being sold and confirms the Seller's intention to sell and Buyer's intention to purchase

3. Definitions: Defines key terms used throughout the agreement

4. Sale and Purchase: Core terms of the transaction, including what is being sold and the basic agreement to sell

5. Purchase Price: States the agreed purchase price and payment terms

6. Completion: Details of when, where and how the sale will be completed

7. Seller's Warranties: Standard warranties about the business, its assets, and operations

8. Buyer's Warranties: Basic warranties from the buyer, including capacity to enter the agreement and financial ability

9. Handover: Process for transferring business operations, assets, and documentation

10. Confidentiality: Obligations regarding confidential information before and after completion

11. Announcements: Agreement on how and when the sale will be communicated to stakeholders

12. Governing Law: Confirms Irish law as governing law and jurisdiction

Optional Sections

1. Employee Provisions: Required when employees are being transferred with the business, covering TUPE regulations

2. Intellectual Property: Needed when the business owns significant IP assets requiring specific transfer provisions

3. Property Assignment: Required when the sale includes transfer of real property

4. Post-Completion Obligations: Used when there are specific actions required after completion

5. Non-Compete Provisions: Added when restricting the seller's future business activities

6. Earn-Out Provisions: Included when part of the purchase price is contingent on future performance

7. Debt Collection: Required when specific arrangements are needed for collecting pre-completion debts

8. Tax Covenants: Added for complex transactions with specific tax implications

Suggested Schedules

1. Schedule 1 - Business Assets: Detailed list of all assets included in the sale

2. Schedule 2 - Excluded Assets: List of assets specifically excluded from the sale

3. Schedule 3 - Employees: Details of all employees and their employment terms

4. Schedule 4 - Intellectual Property: List of all IP rights, registrations, and applications

5. Schedule 5 - Properties: Details of any real property included in the sale

6. Schedule 6 - Contracts: List of business contracts being transferred

7. Schedule 7 - Warranties: Detailed warranties given by the seller

8. Appendix A - Completion Obligations: Checklist of actions required at completion

9. Appendix B - Form of Transfer Documents: Templates for any required transfer documentation

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

Relevant Industries

Retail

Manufacturing

Professional Services

Technology

Hospitality

Construction

Healthcare

Transportation

Real Estate

Education

Food and Beverage

Agriculture

Entertainment

Automotive

Consulting

Relevant Teams

Legal

Finance

Corporate Development

Mergers & Acquisitions

Executive Leadership

Operations

Compliance

Risk Management

Business Development

Commercial

Relevant Roles

Chief Executive Officer

Managing Director

Business Owner

Corporate Lawyer

Legal Counsel

Chief Financial Officer

Finance Director

Business Development Manager

Commercial Director

Operations Manager

Company Secretary

Compliance Officer

Risk Manager

Mergers & Acquisitions Manager

Transaction Advisory Manager

Industries
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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