Transfer of a business
A business is an entity of tangible (material, tools, goods) and intangible assets (leasehold rights, name, brand, patent and brands, clientele and goodwill) which, belonging to a trader or an industrialist, are grouped together by the concept of universality to enable him/her to exercise their activity.
Due to the intangible nature of a business, its sale is usually qualified as a transfer. It is subject to specific rules (Commercial Code, Art. 141-1 to L. 141-22). The Commercial Code also defines common provisions for the sale and pledging of a business (Commercial Code, Art. L. 143-1 to L. 143-23).
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