Understanding the Bill of Sale

When you buy or sell a digital asset like a SaaS business, a Bill of Sale is a simple but important legal document that formalizes the transfer of ownership from the seller to the buyer. It serves as a written record of the transaction.

While our platform's escrow service confirms the financial transaction, the Bill of Sale confirms the transfer of the actual assets. We provide these guidelines as a helpful framework, but we are not a party to your private agreement.

What Should Be Included?

  • Parties: The full legal names and contact information of the Seller and the Buyer.
  • Purchase Price: The final agreed-upon price for the asset.
  • Asset Description: A clear definition of the SaaS product or asset being sold, including its name and primary function.
  • Representations and Warranties: A statement where the Seller confirms they are the legal owner and have the full right and authority to sell the asset.
  • List of Transferred Assets: This is the most important part. It should be a detailed, explicit list of everything the buyer is receiving. This can include:
    • Primary domain name(s)
    • Source code and all related software
    • Customer email lists and other user data (ensure compliance with privacy laws)
    • Social media accounts (Twitter, Facebook, etc.)
    • Third-party service accounts (e.g., AWS, Stripe, Mailchimp)
    • Trademarks, logos, and other branding materials
    • Any associated intellectual property (IP)
  • Date of Transfer: The date on which the ownership officially changes hands.
  • Signatures: Both the buyer and seller should sign the document.

Important Disclaimer

This information is for educational purposes only and does not constitute legal advice. LottoSaaS is a facilitator and is not a party to any transaction. We are not responsible for the legal validity of your Bill of Sale, the successful transfer of assets, or for verifying the seller's authority to sell. We strongly recommend you consult with a qualified legal professional to draft or review any legal documents to ensure they are appropriate for your specific transaction and jurisdiction.