Document background
The Business Purchase Contract serves as the primary transaction document for acquiring a business enterprise in Austria. It is essential for both asset deals and share purchases, providing a legally compliant framework under Austrian jurisdiction. This document is used when one party wishes to acquire another's business operations, whether wholly or partially, and requires careful consideration of Austrian Commercial Code (UGB), Civil Code (ABGB), and employment law (AVRAG) requirements. The contract typically includes detailed provisions for asset transfer, employee transitions, liability allocations, and warranty protections, while ensuring compliance with both Austrian and EU regulations. It's particularly crucial for documenting purchase price, payment terms, pre-completion obligations, and post-completion arrangements, while addressing specific Austrian legal requirements for business transfers.
