Glossary
Transfer of Undertaking (Section 613a BGB)
In an asset deal, employment relationships transfer to the new owner with all rights and obligations under Section 613a of the German Civil Code (BGB). Employees must be informed in writing beforehand.
Related termAsset DealIn an asset deal, the successor buys individual assets such as machinery, the customer base and contracts, not the legal entity itself.Next Read moreTake over or start a company: What's a better fit for you.Next
FAQ
Frequently asked questions
What is a transfer of undertaking under Section 613a BGB?
In an asset deal, employment relationships transfer to the new owner with all rights and obligations under Section 613a of the German Civil Code (BGB).
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