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Deed Of Assignment Of Goodwill

Deed Of Assignment Of Goodwill Template for New Zealand

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Key Requirements PROMPT example:

Deed Of Assignment Of Goodwill

"I need a Deed of Assignment of Goodwill for transferring my Auckland-based consulting business to my business partner, with specific provisions for maintaining client relationships and a 3-year non-compete clause, to be completed by March 2025."

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Document background
The Deed of Assignment of Goodwill is a crucial document in New Zealand business transactions, used when transferring the intangible assets and reputation of a business. This deed is particularly important in business sales, mergers, or restructuring where the value of the business's reputation, customer relationships, and market position needs to be formally transferred. It ensures compliance with New Zealand law, including the Property Law Act 2007 and Contract and Commercial Law Act 2017. The document typically includes comprehensive details about the goodwill being transferred, warranties from the transferor, protective covenants, and consideration paid. A Deed of Assignment of Goodwill is essential for protecting both parties' interests and ensuring a clear legal framework for the transfer of these valuable intangible assets.
Suggested Sections

1. Parties: Identifies and provides full details of the Assignor (current owner) and Assignee (new owner) of the goodwill

2. Background: Explains the context of the assignment, including details about the business whose goodwill is being transferred and the intention to assign

3. Definitions and Interpretation: Defines key terms used in the deed including 'Goodwill', 'Business', 'Effective Date' and interpretation rules

4. Assignment: Core provision that effects the transfer of goodwill from Assignor to Assignee

5. Consideration: Specifies the payment or other consideration for the assignment of goodwill

6. Assignor's Warranties: Warranties given by the Assignor regarding ownership, right to assign, and nature of the goodwill

7. Protection of Goodwill: Includes non-compete and non-solicitation provisions to protect the transferred goodwill

8. Further Assurance: Obligation to execute further documents and take additional steps if needed to perfect the assignment

9. Costs and Stamp Duty: Specifies who bears the costs of preparing and executing the deed and any applicable duties

10. Governing Law and Jurisdiction: Specifies that New Zealand law governs the deed and courts have jurisdiction

11. Execution: Formal execution block meeting requirements for a deed under New Zealand law

Optional Sections

1. Intellectual Property: Additional provisions dealing with transfer of associated intellectual property rights, used when goodwill is connected to specific IP

2. Employee Matters: Provisions regarding employees and their relationships with the business, used when employee relationships are crucial to the goodwill

3. Confidentiality: Detailed confidentiality provisions, used when specific confidential information needs protection

4. GST: Specific GST provisions and warranties, used when the transaction is subject to GST

5. Assignment of Contracts: Provisions for assigning related contracts, used when specific contracts are integral to the goodwill

6. Transitional Arrangements: Provisions for temporary support or transition period, used when handover period is required

Suggested Schedules

1. Description of Business: Detailed description of the business whose goodwill is being transferred

2. Calculation of Consideration: Details of how the consideration was calculated and payment terms if applicable

3. List of Business Assets: Inventory of tangible and intangible assets associated with the goodwill

4. Excluded Assets: List of assets specifically excluded from the transfer

5. Required Consents: List of third-party consents required for the assignment

6. Transitional Services: Details of any transitional services to be provided by the Assignor

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

Retail

Professional Services

Hospitality

Manufacturing

Technology

Healthcare

Construction

Education

Financial Services

Consulting

Real Estate

Franchising

Relevant Teams

Legal

Finance

Corporate Development

Mergers & Acquisitions

Commercial Operations

Risk & Compliance

Business Development

Executive Leadership

Company Secretariat

Corporate Advisory

Relevant Roles

Business Owner

Managing Director

Chief Executive Officer

Chief Financial Officer

Commercial Lawyer

Business Development Manager

Merger & Acquisition Specialist

Company Secretary

Business Broker

Corporate Advisor

Financial Controller

Risk Manager

Compliance Officer

Business Transfer Agent

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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