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Business Sale Broker Agreement

Business Sale Broker Agreement Template for United States

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Key Requirements PROMPT example:

Business Sale Broker Agreement

"I need a Business Sale Broker Agreement for my manufacturing company in Texas, with an exclusive 12-month term starting March 1, 2025, and a commission structure that includes both success fee and monthly retainer components."

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Document background
The Business Sale Broker Agreement serves as the foundational document for engaging professional assistance in selling a business in the United States. This agreement becomes necessary when business owners seek expert help in valuing, marketing, and selling their business while ensuring compliance with federal and state regulations. It typically includes detailed provisions for broker compensation, scope of services, confidentiality requirements, and duration of representation. The document must comply with state-specific licensing requirements and federal securities laws, particularly when the transaction involves the sale of business securities.
Suggested Sections

1. Parties: Identification of the broker and the business owner/seller

2. Background: Context of the agreement and brief description of the business being sold

3. Definitions: Key terms used throughout the agreement including relevant securities and broker-related terminology

4. Scope of Services: Detailed description of broker's services and responsibilities, including regulatory compliance obligations

5. Commission Structure: Fee arrangements, payment terms, and conditions for earning commission

6. Term and Termination: Duration of agreement and termination provisions

7. Confidentiality: Protection of sensitive business information and compliance with privacy laws

8. Representations and Warranties: Statements regarding broker licenses, qualifications, and compliance with applicable laws

9. Governing Law: Specification of applicable state law and regulatory framework

Optional Sections

1. Tail Period: Post-termination period where broker remains entitled to commission for ongoing negotiations

2. Exclusivity: Terms of exclusive representation and any territorial restrictions

3. Marketing Authorization: Specific permissions and restrictions for marketing the business

4. Due Diligence Support: Broker's role in facilitating due diligence process

5. Non-Circumvention: Provisions preventing direct dealings between seller and potential buyers identified by broker

Suggested Schedules

1. Commission Schedule: Detailed breakdown of commission calculations and scenarios

2. Services Schedule: Detailed list of specific services to be provided by the broker

3. Marketing Plan: Detailed marketing strategy and activities

4. Authorized Representatives: List of authorized persons who can act on behalf of each party

5. Compliance Schedule: List of applicable regulatory requirements and compliance procedures

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
Industries

Federal Securities Laws: Includes Securities Exchange Act of 1934, Securities Act of 1933, and SEC broker-dealer registration requirements for transactions involving securities

State-Specific Broker Laws: Encompasses state real estate broker licensing requirements, business broker licensing requirements (varying by state), and state securities regulations

Employment and Independent Contractor Laws: Covers Fair Labor Standards Act, IRS guidelines for independent contractor classification, and state-specific employment laws

Contract Laws: Includes state-specific contract laws, Statute of Frauds requirements, and Uniform Commercial Code (UCC) provisions

Professional Regulations: Covers state-specific business broker regulations, professional ethics requirements, and fiduciary duty obligations

Privacy Laws: Encompasses confidentiality requirements, non-disclosure agreements, and data protection regulations

Consumer Protection Laws: Includes Federal Trade Commission regulations and state consumer protection statutes

Anti-Fraud Provisions: Covers state and federal anti-fraud statutes and disclosure requirements

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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