Various other agreements are often part of the business sale document. For example, both parties may sign confidentiality agreements. The seller may agree not to compete with the new owner for a certain period of time. Or the seller may agree to work with the new owner for a certain period of time as an employee of the company. A Business Bill of Sale is a legal document that recognizes the sale and change of ownership of a business and all of its assets. The Business Bill of Sale defines the terms of sale, contains important information from the buyer and seller, and acts as a key record of the final transaction. A sales contract can help your employees provide ongoing service to a customer and increase internal productivity.