I need someone to draw up a contract for the purchase of a business
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Post a project like this2467
£100(approx. $125)
- Posted:
- Proposals: 2
- Remote
- #1635484
- Completed
Description
Experience Level: Expert
General information for the business: Purchase of competitors business
Industry: Technology
Legal topic: Business setup
Description of legal work: Thank you for reading.
We are in the final stages of finalising a deal to purchase one of our competitor's companies. A rough verbal agreement has been made but we are due to meet this week to go through specific's and if everything is good and both parties agree then we would like a contract drawn up.
The business that we are purchasing is a sole trading non-vat registered web agency. I think we are planning to continue running it as a separate company (need to discuss with our accountants) as our current business is a limited liability vat registered business.
A rough outline, TBC:
- The seller will put together a document containing everything that we may need to know about existing clients such as personal information, all services and details, billable amounts/dates and any access to servers.
- The seller will hand over the business, website, clients, servers, software licensing, telephone numbers, domain names etc.
- The seller will provide a specific level of support to us for a period of time after the sale with the option to extend for a fee.
- The other party will not work with any of the clients that are sold to us or act in any way that may cause us to lose these clients.
- If any client contacts the seller directly then the client is to be directed towards contacting us.
- The buyer will pay either a lump sum to the seller and/or monthly fee for a limited time after the purchase.
- The buyer will always speak highly of the seller and will not do anything that could affect the seller's reputation.
I plan to give go-ahead on this contract after my meeting with the seller and it will need turning around within a few days. I understand that there will be some back and forth between us and yourself to finalise the finer points of the contract.
Extra notes:
Industry: Technology
Legal topic: Business setup
Description of legal work: Thank you for reading.
We are in the final stages of finalising a deal to purchase one of our competitor's companies. A rough verbal agreement has been made but we are due to meet this week to go through specific's and if everything is good and both parties agree then we would like a contract drawn up.
The business that we are purchasing is a sole trading non-vat registered web agency. I think we are planning to continue running it as a separate company (need to discuss with our accountants) as our current business is a limited liability vat registered business.
A rough outline, TBC:
- The seller will put together a document containing everything that we may need to know about existing clients such as personal information, all services and details, billable amounts/dates and any access to servers.
- The seller will hand over the business, website, clients, servers, software licensing, telephone numbers, domain names etc.
- The seller will provide a specific level of support to us for a period of time after the sale with the option to extend for a fee.
- The other party will not work with any of the clients that are sold to us or act in any way that may cause us to lose these clients.
- If any client contacts the seller directly then the client is to be directed towards contacting us.
- The buyer will pay either a lump sum to the seller and/or monthly fee for a limited time after the purchase.
- The buyer will always speak highly of the seller and will not do anything that could affect the seller's reputation.
I plan to give go-ahead on this contract after my meeting with the seller and it will need turning around within a few days. I understand that there will be some back and forth between us and yourself to finalise the finer points of the contract.
Extra notes:
WEBFWD LTD
100% (37)Projects Completed
41
Freelancers worked with
39
Projects awarded
31%
Last project
14 Sep 2021
United Kingdom
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