A business separation agreement is a written contract that outlines the terms and conditions of a business partnership or ownership dissolution. It is essential to have a well-drafted separation agreement in place to protect the interests of all parties involved.
Rust Belt Business Law has extensive knowledge in drafting separation agreements for businesses of all sizes. Our attorneys can help you to:
- Identify the key issues that need to be addressed in the agreement
- Negotiate the terms of the agreement on your behalf
- Draft a clear and concise agreement that is legally binding
Here are some of the critical issues that a business separation agreement should typically address:
- Division of assets and liabilities: The agreement should specify how the business's assets and liabilities will be divided among the parties. This may include real estate, inventory, equipment, and debts.
- Customer and supplier relationships: The agreement should address how the business's customer and supplier relationships will be transitioned to the new owners.
- Non-compete and confidentiality provisions: The agreement may include non-compete and confidentiality provisions to protect the business's interests.
- Intellectual property ownership: The agreement should specify who will own the business's intellectual property, such as trademarks, copyrights, and patents.
- Dispute resolution: The agreement should include a dispute resolution provision to outline how any disputes arising out of the agreement will be resolved.
Rust Belt Business Law can help you address all these issues and more when drafting your separation agreement. We will work with you to ensure that your interests are protected and that the arrangement is fair and reasonable.
Contact us today for a free consultation to discuss your business separation agreement needs.
