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Intent To Purchase Business Agreement

Intent To Purchase Business Agreement Template for Australia

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Key Requirements PROMPT example:

Intent To Purchase Business Agreement

"I need an Intent to Purchase Business Agreement for acquiring a medium-sized manufacturing business in Melbourne, with a six-month exclusivity period and specific provisions for intellectual property protection during due diligence."

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Document background
The Intent To Purchase Business Agreement is a critical document in Australian business acquisitions, used when a potential buyer wishes to formally express their serious intention to purchase a business while maintaining certain protections and conditions. This document typically follows initial discussions and precedes the final purchase agreement, establishing important preliminary terms such as confidentiality obligations, exclusivity periods, and due diligence procedures. While not all provisions are legally binding, certain elements like confidentiality and exclusivity typically are. The agreement is particularly valuable in the Australian business context where it helps structure the pre-purchase phase and provides a clear framework for moving towards a final transaction, while complying with Australian commercial law requirements.
Suggested Sections

1. Parties: Identification of the potential purchaser and seller, including full legal names, ACN/ABN, and registered addresses

2. Background: Context of the proposed transaction, brief description of the business, and the parties' intentions

3. Definitions: Key terms used throughout the document, including Business, Confidential Information, Due Diligence Period, etc.

4. Intent to Purchase: Clear statement of the purchaser's intention to acquire the business, subject to conditions

5. Proposed Purchase Price: Indicative purchase price or price range, subject to due diligence and final negotiations

6. Due Diligence: Framework for the due diligence process, including timeframes and access to information

7. Confidentiality: Obligations regarding confidential information disclosed during the process

8. Exclusivity: Period during which the seller cannot negotiate with other potential buyers

9. Binding and Non-binding Provisions: Clear identification of which provisions are legally binding and which are not

10. Costs and Expenses: Each party's responsibility for their own costs in the preliminary process

11. Termination: Circumstances under which either party can terminate the intent to purchase process

12. Execution: Signing provisions and execution blocks for all parties

Optional Sections

1. Deposit: Terms of any initial deposit to be paid, used when the seller requires a show of good faith

2. Break Fee: Penalties for breaking exclusivity, used in high-value transactions or competitive sales processes

3. Key Employee Provisions: Preliminary agreements regarding key staff retention, used when specific employees are crucial to the business

4. Regulatory Approvals: Framework for obtaining necessary regulatory approvals, used when the business operates in a regulated industry

5. Environmental Due Diligence: Special provisions for environmental investigations, used for businesses with potential environmental liabilities

6. Intellectual Property: Special provisions regarding IP review and transfer, used when IP is a significant business asset

Suggested Schedules

1. Schedule 1 - Business Description: Detailed description of the business assets, operations, and scope

2. Schedule 2 - Due Diligence Requirements: List of documents and information required for due diligence

3. Schedule 3 - Confidentiality Terms: Detailed confidentiality obligations and permitted uses of information

4. Schedule 4 - Key Business Information: Summary of key business metrics, licenses, permits, and material contracts

5. Appendix A - Proposed Timeline: Indicative timeline for due diligence, negotiations, and completion

6. Appendix B - Required Consents: List of third-party consents needed for the transaction

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions






























Clauses




























Relevant Industries

Retail

Manufacturing

Professional Services

Hospitality

Technology

Healthcare

Construction

Agriculture

Education

Transport and Logistics

Real Estate

Financial Services

Mining and Resources

Media and Entertainment

Relevant Teams

Legal

Finance

Mergers & Acquisitions

Corporate Development

Executive Leadership

Risk Management

Commercial

Business Development

Compliance

Due Diligence

Relevant Roles

Chief Executive Officer

Managing Director

Business Owner

Corporate Lawyer

Legal Counsel

Chief Financial Officer

Business Development Manager

Mergers & Acquisitions Manager

Commercial Director

Business Broker

Finance Director

Company Secretary

Risk Manager

Due Diligence Manager

Investment Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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