A Business Separation Agreement is essential when two or more business entities decide to separate their operations, assets, and liabilities in Belgium. This document is typically used in scenarios such as the division of a joint venture, separation of business units, or demerger of operations. The agreement, governed by Belgian law, must comply with the Belgian Companies and Associations Code and related regulations. It provides detailed provisions for the division of assets, transfer of employees, allocation of contracts, intellectual property rights, and ongoing obligations. The document also addresses critical aspects such as tax implications, competition law requirements, and data protection obligations under GDPR. It's particularly important to ensure the agreement includes appropriate transition arrangements and clear mechanisms for dispute resolution under Belgian jurisdiction.
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1. Parties: Identification of all business entities involved in the separation
2. Background: Context of the business relationship and reasons for separation
3. Definitions: Defined terms used throughout the agreement
4. Effective Date and Implementation: Timing and process for implementing the separation
5. Division of Assets and Liabilities: Detailed allocation of business assets and liabilities between parties
6. Employee Matters: Treatment of employees, including transfers, benefits, and obligations
7. Intellectual Property Rights: Division and licensing of IP assets and rights
8. Contracts and Business Relationships: Assignment or termination of existing contracts and customer relationships
9. Financial Arrangements: Financial settlements, including payment terms and adjustments
10. Tax Matters: Tax implications and responsibilities
11. Confidentiality: Protection of confidential information during and after separation
12. Non-Competition and Non-Solicitation: Restrictions on competitive activities and employee solicitation
13. Representations and Warranties: Standard business warranties and representations
14. Indemnification: Mutual indemnification provisions
15. Dispute Resolution: Process for resolving disputes under Belgian law
16. General Provisions: Standard boilerplate clauses including notices, amendments, and governing law
1. Transition Services: Details of temporary services provided between parties during separation - include if ongoing support is needed
2. Data Protection: GDPR compliance measures - required if personal data is involved
3. Real Estate: Property division and lease arrangements - include if real estate assets are involved
4. Environmental Matters: Environmental liabilities and compliance - include for industries with environmental impact
5. Pension and Benefits: Treatment of pension schemes and benefits - include if significant employee benefit programs exist
6. Cross-Border Provisions: Special provisions for international aspects - include if separation involves multiple jurisdictions
7. Regulatory Compliance: Industry-specific regulatory requirements - include for regulated industries
1. Schedule 1 - Asset Register: Comprehensive list of assets being divided
2. Schedule 2 - Employee Transfer List: List of employees and their transfer arrangements
3. Schedule 3 - Contracts List: Inventory of contracts being assigned or terminated
4. Schedule 4 - Intellectual Property Register: Detailed list of IP rights and their allocation
5. Schedule 5 - Financial Statements: Relevant financial information and calculations
6. Schedule 6 - Transition Services Agreement: Detailed terms of any transition services
7. Schedule 7 - Tax Allocation Schedule: Breakdown of tax responsibilities and calculations
8. Schedule 8 - Real Estate Details: Property information and arrangements
9. Appendix A - Implementation Timeline: Detailed timeline for separation activities
10. Appendix B - Contact Details: Key contact information for both parties
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