The Business Purchase Term Sheet is typically used in the early stages of a business acquisition process when parties have reached preliminary agreement on key terms. It serves as a roadmap for the transaction and subsequent due diligence process, while generally remaining non-binding except for certain provisions such as confidentiality and exclusivity. This document is particularly important in U.S. business transactions as it helps establish clear expectations and parameters before significant legal and due diligence costs are incurred.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identification of buyer and seller entities, including legal names and addresses
2. Background: Brief description of the business being sold and the context of the transaction
3. Definitions: Key terms used throughout the term sheet
4. Transaction Overview: High-level summary of the proposed transaction structure and key terms
5. Purchase Price: Detailed breakdown of consideration, payment terms, and any adjustments
6. Key Assets and Liabilities: Description of major assets and liabilities included in the transaction
7. Closing Conditions: Prerequisites that must be satisfied before the transaction can close
8. Timeline: Expected closing date and key milestone dates
9. Due Diligence: Overview of the due diligence process and requirements
10. Governing Law: Specification of applicable jurisdiction and governing law
1. Earnout Provisions: Details of performance-based additional payments, used when part of purchase price is contingent on future performance
2. Employee Matters: Treatment of employees post-transaction, included when significant workforce is involved
3. Financing Contingency: Conditions related to buyer's financing, included when purchase is dependent on obtaining financing
4. Non-Competition: Terms restricting seller's ability to compete, included when protecting business value is crucial
5. Transition Services: Details of post-closing support services, included when seller's assistance is needed post-closing
1. Schedule A - Asset List: Detailed inventory of assets included in the transaction
2. Schedule B - Excluded Assets: List of specific assets excluded from the transaction
3. Schedule C - Key Contracts: List of material contracts to be assigned or terminated
4. Schedule D - Due Diligence Checklist: Comprehensive list of required documents and information for review
5. Schedule E - Assumed Liabilities: Detailed list of liabilities to be assumed by the buyer
Authors
Relevant legal definitions
Clauses
Relevant Industries
Relevant Teams
Relevant Roles
Find the exact document you need
Private Party Boat Purchase Agreement
A legal agreement for the private sale of watercraft in the United States, outlining terms of sale and transfer of ownership.
find out more
Standard Residential Purchase Agreement
A legally binding agreement for residential property sales in the United States, outlining terms and conditions of the transaction.
find out more
Simple Aircraft Purchase Agreement
A U.S.-governed agreement for the sale and purchase of aircraft, complying with FAA regulations and federal transportation laws.
find out more
Residential Buy Sell Agreement
A legally binding U.S. contract governing the purchase and sale of residential property, compliant with federal and state laws.
find out more
Vacant Land Real Estate Contract
A U.S. legal agreement for the purchase and sale of undeveloped property, governing the terms and conditions of the land transaction.
find out more
Used Motor Vehicle Purchase Contract
A U.S.-governed contract documenting the sale and purchase of a used motor vehicle, including terms of sale and transfer of ownership.
find out more
Standard Buyer Seller Agreement
A U.S.-governed agreement establishing terms and conditions between buyers and sellers for commercial transactions.
find out more
Single Family Purchase And Sales Agreement
A U.S. legal agreement governing the purchase and sale of single-family residential properties.
find out more
Residential Lot Purchase Agreement
A U.S. legal agreement for the purchase and sale of undeveloped residential land, outlining transaction terms and conditions.
find out more
Real Estate Contract To Sell A House
A legally binding agreement for the sale of residential property in the United States, complying with federal and state real estate laws.
find out more
Property Sales Contract Between Seller And Buyer Form
A legally binding U.S. agreement for the transfer of real property between seller and buyer, compliant with federal and state real estate laws.
find out more
Buy Sell Purchase Agreement
A U.S.-governed legal agreement documenting the terms and conditions of a sale transaction between buyer and seller.
find out more
As Is Sales Agreement Car
A U.S. legal document for the sale of a used vehicle in its current condition without warranties.
find out more
Agreement For Selling Property
A US-compliant legal agreement governing the sale and transfer of real property between parties.
find out more
For Sale By Owner Buy Sell Agreement
A legal agreement for direct property sales between owners and buyers in the United States, without real estate agent involvement.
find out more
Generic Purchase And Sale Agreement
A U.S.-governed agreement that formalizes the transfer of goods or property between a seller and buyer, outlining key terms and conditions of the sale.
find out more
Contract To Buy And Sell Real Estate Residential
A U.S.-compliant legal agreement for the purchase and sale of residential real estate property, outlining terms and conditions of the transaction.
find out more
Agreement To Buy And Sell Real Estate Residential
A U.S. legal contract governing the purchase and sale of residential real estate, outlining terms, conditions, and obligations of buyers and sellers.
find out more
Home Purchase Sales Contract
A legally binding agreement for residential property sales in the United States, outlining purchase terms and conditions.
find out more
Bill Of Sale Asset Purchase
A U.S. legal document that records the transfer of ownership of assets from seller to buyer, conforming to state and federal regulations.
find out more
Standard House Purchase Contract
A legally binding agreement used in the United States for residential property sales, outlining terms and conditions of the transaction.
find out more
Short Form Purchase And Sale Agreement
A simplified U.S. legal agreement for straightforward asset or property sales, containing essential terms and conditions.
find out more
New Construction Purchase And Sale Agreement
A U.S. legal agreement for the purchase and sale of newly constructed property, detailing construction specifications and sale terms.
find out more
Condo Purchase And Sale Agreement
A U.S. legal agreement governing the sale and purchase of a condominium unit, including all terms and conditions of the transaction.
find out more
Commercial Buy Sell Agreement
A U.S.-governed agreement that establishes terms for commercial sale and purchase of goods or services between businesses.
find out more
Agreement To Sell Shares
A U.S. legal document formalizing the sale and transfer of company shares between parties.
find out more
Standard Land Purchase And Sale Agreement
A legally binding agreement for the purchase and sale of real property in the United States, outlining terms and conditions of the transaction.
find out more
Modular Home Purchase Agreement
A U.S. legal agreement governing the purchase of a prefabricated home, including specifications, delivery, and installation terms.
find out more
Simple Home Purchase Contract
A standardized agreement for residential property sales in the United States, outlining essential terms and conditions of the transaction.
find out more
Contract For Selling A Car In Payments
A U.S.-compliant contract establishing terms for vehicle sale through installment payments, including price, schedule, and security interests.
find out more
Contract For Selling A House By Owner
A U.S. legal agreement for direct property sales between private parties without real estate agent involvement.
find out more
Vacant Land Lot Purchase Contract
A U.S. legal agreement for the purchase and sale of vacant land lots, detailing transaction terms and conditions.
find out more
Contract To Sell Lot
A U.S. legal agreement defining terms and conditions for the sale of a land parcel.
find out more
Agreement Of Purchase And Sale Form
A U.S. legal document that formalizes the terms and conditions of a real property sale between buyer and seller.
find out more
Residential Contract For Sale And Purchase
A legally binding U.S. agreement for the sale and purchase of residential property, containing all essential terms and conditions of the transaction.
find out more
Buy Sell Agreement Business
A U.S.-governed legal agreement establishing terms and conditions for the purchase and sale of a business or business interests.
find out more
Offer To Sell Real Estate Form
A U.S. legal document outlining terms and conditions for selling real estate property.
find out more
House Buying Agreement
A legally binding U.S. contract outlining terms and conditions for residential property purchase and sale, compliant with federal and state regulations.
find out more
Real Estate Intent To Purchase Form
A U.S. legal document expressing a buyer's formal intention to purchase a specific property, subject to certain terms and conditions.
find out more
Business Purchase Term Sheet
A preliminary document outlining key terms for a business purchase transaction under U.S. law.
find out more
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)