Purchase of Business by Employee as Going Concern

Sell your business to an employee with this downloadable Agreement for Purchase of Business as Going Concern.

• The transaction will take place upon the winding up of current business operations by the present owner.
• The agreement terminates the employee's employment, and establishes an agency relationship between the employee as buyer and the owner as seller with respect to ongoing contracts and obligations of the business.
• The buyer, as agent for the seller, will pay the outstanding liabilities and will perform any required warranty or service work under existing contracts with clients.

The Agreement for Purchase of Business as Going Concern is a great succession planning tool if you have no family members able or willing to take over the business.