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Business Separation Agreement

Business Separation Agreement Template for India

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Key Requirements PROMPT example:

Business Separation Agreement

"I need a Business Separation Agreement for splitting my IT consulting company based in Bangalore into two separate entities, with the new entity taking over our cloud services division and 40% of the employees, planned to take effect from March 1, 2025."

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Document background
A Business Separation Agreement is a crucial document used when companies decide to divide their operations, split business units, or separate joint ventures in India. This agreement becomes necessary during corporate restructuring, demergers, spin-offs, or when business partners decide to part ways. The document comprehensively addresses all aspects of separation including asset division, liability allocation, employee transfers, intellectual property rights, and ongoing obligations, while ensuring compliance with Indian regulatory requirements including the Companies Act 2013, tax laws, and employment regulations. It serves as a roadmap for the separation process, establishing clear terms and timelines while minimizing potential disputes and ensuring business continuity during the transition period.
Suggested Sections

1. Parties: Identification of all parties involved in the separation agreement

2. Background: Context of the business relationship and reasons for separation

3. Definitions: Detailed definitions of terms used throughout the agreement

4. Effective Date and Transition Period: Specification of when the separation takes effect and the transition timeline

5. Division of Business: Core terms of how the business will be separated, including operations, territories, and customer segments

6. Asset Distribution: Terms governing the division and transfer of assets between parties

7. Assumption of Liabilities: Allocation of existing liabilities between the separating parties

8. Employee Matters: Terms regarding employee transfers, retention, and related benefits

9. Intellectual Property Rights: Division and future usage rights of intellectual property

10. Confidentiality: Obligations regarding confidential information post-separation

11. Non-Compete and Non-Solicitation: Restrictions on competitive activities and employee/customer solicitation

12. Tax Matters: Handling of tax liabilities and obligations

13. Representations and Warranties: Standard representations and warranties from all parties

14. Indemnification: Mutual indemnification provisions and procedures

15. Dispute Resolution: Mechanism for resolving disputes, including jurisdiction and governing law

16. General Provisions: Standard boilerplate clauses including notices, amendments, and severability

Optional Sections

1. Transition Services: Terms for continuing services between parties during transition - include if ongoing support is needed

2. Customer Communication: Protocol for communicating with customers - include if there's significant customer base

3. Brand Usage: Terms for phasing out brand usage - include if brand separation is needed

4. Insurance: Handling of insurance policies and claims - include if significant insurance matters exist

5. Environmental Matters: Environmental liabilities and compliance - include for industries with environmental impact

6. Government Contracts: Treatment of government contracts and licenses - include if government contracts exist

7. Data Protection: Specific provisions for data handling and privacy - include if significant data assets exist

8. Real Estate: Property division and lease arrangements - include if real estate assets are involved

Suggested Schedules

1. Schedule A - Asset List: Comprehensive list of assets being divided

2. Schedule B - Contracts: List of contracts being assigned or terminated

3. Schedule C - Intellectual Property: Detailed listing of all IP rights and their allocation

4. Schedule D - Employee Transfer List: List of employees transferring to each entity

5. Schedule E - Liabilities: Detailed breakdown of liability allocation

6. Schedule F - Transition Services: Specific transition services and their terms

7. Schedule G - Real Estate: Details of real estate division and arrangements

8. Appendix 1 - Transfer Documents: Forms and documents required for various transfers

9. Appendix 2 - Timeline: Detailed separation and transition timeline

10. Appendix 3 - Communication Plan: Templates and protocols for stakeholder communications

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions
Clauses









































Relevant Industries

Manufacturing

Information Technology

Retail

Financial Services

Healthcare

Real Estate

Professional Services

Telecommunications

Energy

Construction

Automotive

Pharmaceuticals

Consumer Goods

Media and Entertainment

Relevant Teams

Legal

Finance

Human Resources

Operations

Compliance

Risk Management

Corporate Strategy

Tax

Asset Management

Information Technology

Corporate Communications

Facilities Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Legal Officer

Chief Operating Officer

Managing Director

Company Secretary

Corporate Lawyer

Finance Director

Human Resources Director

Operations Director

Business Unit Head

Compliance Officer

Risk Manager

Strategic Planning Director

Asset Manager

Tax Director

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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