Business Opportunity Agreement: Definition, Terms, Example
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What is a Business Opportunity Agreement?
A business opportunity agreement is a contract that transfers ownership of a business, which is packaged and ready for the buyer to enter the market. This agreement is entered into by the buyer and the seller and once the agreement is signed, the relationship between the two parties is terminated. In some cases, a business opportunity agreement can be drawn up for the purchase of services or equipment that will allow the purchaser to start a new business.
The importance of business opportunity agreement documents lies in protecting both parties by ensuring they understand their roles before completing the agreement.
Common Sections in Business Opportunity Agreements
Below is a list of common sections included in Business Opportunity Agreements. These sections are linked to the below sample agreement for you to explore.
Business Opportunity Agreement Sample
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| (a) | For purposes of this Agreement, “Designated Parties” shall include all Subsidiaries and Affiliates of each Designated Party and all investment |
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| funds now or hereafter sponsored by a Designated Party and its Subsidiaries and Affiliates (other than the Company and its Subsidiaries). | |||
| (b) | As used in this Agreement, the following definitions shall apply: |
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| COMPANY: CRUSADER ENERGY GROUP INC., a Nevada corporation |
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| By: | /s/ DAVID D. LE NORMAN | |||
| David D. Le Norman | ||||
| President and Chief Executive Officer | ||||
| DESIGNATED PARTIES: | ||||
| /s/ ROBERT J. RAYMOND | ||||
| Robert J. Raymond | ||||
| /s/ JOE COLONNETTA | ||||
| Joe Colonnetta | ||||
| /s/ JAMES C. CRAIN | ||||
| James C. Crain | ||||
| /s/ PHIL D. KRAMER | ||||
| Phil D. Kramer | ||||
| /s/ ROBERT H. NIEHAUS | ||||
| Robert H. Niehaus | ||||
| /s/ SHIRLEY A. OGDEN | ||||
| Shirley A. Ogden | ||||
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Joe Colonnetta
James C. Crain
Phil D. Kramer
Robert H. Niehaus
Shirley A. Ogden
Reference:
Security Exchange Commission - Edgar Database, EX-10.13 16 d58022exv10w13.htm BUSINESS OPPORTUNITY AGREEMENT, Viewed August 11, 2022, View Source on SEC.
Who Helps With Business Opportunity Agreements?
Lawyers with backgrounds working on business opportunity agreements work with clients to help. Do you need help with a business opportunity agreement?
Post a project in ContractsCounsel's marketplace to get free bids from lawyers to draft, review, or negotiate business opportunity agreements. All lawyers are vetted by our team and peer reviewed by our customers for you to explore before hiring.
ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.
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