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HOW IT WORKS
How it works
If you've found someone to buy your business, or you've agreed to buy someone else's company, a Sale of Business Asset Worksheet helps you both get organized before you sign a Purchase Agreement. Create your Business Asset Worksheet to get off on the right foot before you finalize the sale.
When you're negotiating the terms of the sale of a business, a Sale of Business Asset Worksheet can help you outline all of the important details. It helps you understand the possible terms that might then be included in a formal legal document—the Business Purchase Agreement—that comes next. A Sale of Business Assets Worksheet helps determine the value of the assets, and what specifically will be considered assets. Any or all of the assets can be selected for purchase. Other terms of the sale are outlined in the Worksheet, too, like the anticipated closing date, non-compete clause, whether a letter of intent shall be used and what terms will be included, assumption of liabilities, and more. The use of a Sale of Business Assets Worksheet allows both buyer and seller an upfront, clear understanding of the terms of the sale, to help you put the right terms in a formal document. Note that this Worksheet helps with the sale of a business that's an individual asset: it's not for selling corporate stock, ownership units, or partnership interests.
Other names for this document: Sale of Commercial Assets Worksheet, Business Asset Sale Worksheet
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