How to Conduct a Business Sale Transaction

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Depending on the legal form of the business: individual entrepreneur or LLC, different documents will be required for sale.

Let's consider what documents an individual entrepreneur needs to prepare. For an individual entrepreneur, selling a business means transferring a set of tangible and intangible assets. The necessary documents include:

A sales contract listing all assets
An inventory report describing tangible assets, including equipment and goods
Agreement for the transfer of exclusive rights for intangible kuwait telegram mobile phone number list assets, such as rights to a website or a trademark
Receipt for receipt of money
Tripartite agreements with partners that transfer rights and obligations to the new owner
For the owner or co-founder of an LLC, selling a business is easier if the assets are registered on the balance sheet of the organization. Here, one document is sufficient - a purchase and sale agreement certified by a notary.

In both situations, it is recommended to arrange in advance:

A letter of intent confirming the parties' readiness to enter into a transaction
Confidentiality Agreement to Protect Seller from Fraudsters
A buyer's refusal to accept these agreements may indicate that he is interested in confidential information rather than in acquiring the business.