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A business transfer agreement is a complex document that requires careful consideration, despite its seemingly straightforward nature. It involves various laws and legal mechanisms, particularly during mergers and acquisitions. Companies may utilize a business transfer agreement in different scenarios depending on their needs, with buyers having the option to acquire specific assets or the entire business. This agreement outlines the terms between the transferor and transferee for transferring and selling the seller's business as a going concern for a lump sum payment. Additionally, it involves the transfer of assets and employee considerations.