Business Separation Agreement Template

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Business Separation Agreement Template

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Business Separation Agreement Template (1)
Between:
[Name of Company A]
[Company A’s ID]
[Company A’s Address]
[Company A’s Phone]
[Company A’s Email]
And:
[Name of Company B]
[Company B’s ID]
[Company B’s Address]
Introduction:
This Business Separation Agreement is made on [Date] to formally document the separation of both parties from their joint business operations established on [Start Date of Partnership].
Clause 1: Purpose of Separation
The purpose of this separation is to delineate the responsibilities, rights, and assets of each party as they dissolve their partnership.
Clause 2: Distribution of Assets
All assets shall be evaluated and distributed according to the agreed percentages: [Specify asset distribution details].
Clause 3: Liabilities and Debts
Each party agrees to assume liability for debts incurred during the partnership as follows: [Specify liability details].
Clause 4: Confidentiality Agreement
Both parties agree to maintain the confidentiality of proprietary information related to the business after separation.
Clause 5: Non-Compete Clause
Both parties agree to a non-compete clause prohibiting them from engaging in similar business ventures for [Specify duration] within [Specify region].
Clause 6: Dispute Resolution
Any disputes arising from this agreement shall be settled through mediation before resorting to litigation.
Signed in [City], [Date].
Sincerely,
[Signature of Company A Representative]
[Name of Company A Representative]
[Signature of Company B Representative]
[Name of Company B Representative]
Business Separation Agreement Template (2)
Between:
[Name of Company A]
[Company A’s ID]
[Company A’s Address]
[Company A’s Phone]
[Company A’s Email]
And:
[Name of Company B]
[Company B’s ID]
[Company B’s Address]
Introduction:
This agreement outlines the terms of separation between [Company A and Company B], effective from [Effective Date].
Clause 1: Responsibilities Post-Separation
Each party is responsible for their own operations, as well as settling any overlapping obligations: [Specify details].
Clause 2: Final Accounting Settlement
Final accounting of the partnership will be completed within [Specify time frame], and all financial matters will be concluded as per [Specify terms].
Clause 3: Intellectual Property Rights
Intellectual property developed during the partnership shall be allocated as follows: [Specify allocation].
Clause 4: Indemnification
Each party agrees to indemnify the other against any claims arising from actions taken during the partnership.
Clause 5: Governing Law
This agreement shall be governed by the laws of [Specify Jurisdiction].
Clause 6: Acknowledgment of Severance
Both parties acknowledge that they have carefully considered their rights and obligations and voluntarily enter into this agreement.
Signed in [City], [Date].
Sincerely,
[Signature of Company A Representative]
[Name of Company A Representative]
[Signature of Company B Representative]
[Name of Company B Representative]

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Please complete the form below to create the Business Separation Agreement Template. All fields must be filled out to ensure a clear and complete agreement. We provide examples to guide you through each step.

Business Separation Agreement Template

1. Company Information


2. Owner Information


3. Separation Details

4. Division of Assets

5. Liabilities and Debt Responsibilities

6. Non-Compete Clause

7. Confidentiality Terms

8. Dispute Resolution

9. Signatures and Acceptance

10. Declaration and Signatures



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Business Separation Agreement Template

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Business Separation Agreement Template