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EXPLANATORY NOTES FOR THE SALE OF INTELLECTUAL PROPERTY AGREEMENT (FOR SALE WITHIN THE REPUBLIC OF SOUTH AFRICA)
Do not use this agreement if the Purchaser is NOT a South African entity, as certain foreign exchange and Reserve Bank requirements kick in. Please contact a legal practitioner to draft a bespoke agreement in this regard, or wait for a precedent to be made available for sale on this site.
This is a robust agreement that has been drafted for entities (companies, trusts, close corporations, partnerships and natural persons) that are selling their intellectual property businesses assets. This agreement is a form of a SALE OF BUSINESS ASSETS AGREEMENT.
NOTE: this is an agreement for the sale of business assets and NOT for the sale of a business as such.
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PLEASE NOTE this agreement must be used in conjunction either with the unilaterally-applicable confidentiality undertaking that the seller may require of the purchaser, or the bi-laterally applicable confidentiality agreement that both parties may require of each other; both of the latter legal documents are available on this site and their conclusion is a condition of the sale agreement. Please ensure that the necessary confidentiality document is purchased and executed PRIOR to the conclusion of the agreement. Please also ensure that the necessary individual confidentiality undertaking is purchased.
IT IS NECESSARY to ensure that the relevant confidentiality arrangements are in place, especially if the transaction does not go through. All necessary confidentiality undertakings (both corporate and individual), as well as confidentiality agreements, are available for sale on this site at nominal prices.
This SALE OF INTELLECTUAL PROPERTY agreement:
This SALE OF INTELLECTUAL PROPERTY agreement contains the following clauses:
Please read carefully through the agreement and fill in all missing details; in preparing a signature document, please have regard to all the notes we have placed hereon to assist you with the conclusion of a professional, legally binding agreement.