Have you ever purchased something? If so, you already have a basic idea of what happens when you transfer ownership of your social media account bill of sale to an LLC 🙌. The process is pretty much what you’d expect 🤷 for any purchase. You give your buyer a price for your social accounts, they pay you, a signature here, a signature there, and presto! The social profiles are now theirs.
However, you can’t just leave this buying process on informal terms. That’s why a social media account bill of sale is so important. Keep reading to learn more about this important document and find out where you can get your own ✔️.
What Is a Social Media Account Bill of Sale?
Nothing mysterious🕵️♂️ about it! A social media account bill of sale is just a simple legal document. It covers an asset transfer for the exchange of payment from one person to another. Generally, these documents are used for the sale of purchases like vehicles🚗. However, the ownership and rights to a social media account can also be included.
Since social networks and social media channels are so popular these days, social media marketing and social media advertising are extremely valuable. Influencer accounts on social media platforms with relevant content strategies, therefore, can drum up some serious cash. Ideal customers for this might be businesses whose current customers intersect with your content types and who can benefit from the additional exposure from social media marketing platforms. For example, if you’re a beauty blogger, a beauty company may eventually want to turn your audience into loyal customers.
During the transaction, the seller generally writes up the bill of sale. The point of writing up this sort of document 📄 is to protect the buyer and seller from legal issues if any conflict comes up during their transaction. That, of course, is something that nobody really wants to experience.
Why Do I Need a Social Media Account Bill of Sale?
As we already mentioned, a bill of sale is used to confirm the transfer of ownership between the buyer and seller. It’s basically there to keep everything formal and legally ⚖️ sound and keep the parties involved protected.
You need to use a bill of sale for transferring big assets like vehicles🏍️, property🏠, shares🏢, and, yes, social media accounts on social media networks. These sorts of assets can cost a lot of money, and it’s best for anyone to sell and transfer them under the right formalities. The last thing you want is to get swindled out of your hard-won influence on social media platforms or even sued because you didn’t do things correctly.
It’s actually illegal 🚓 in certain states to sell something privately without a bill of sale. That’s because in these sorts of situations with private transactions 🤐, it can be quite hard to prove that they are even happening without leaving a paper trail. This form confirms that the transfer of your social media user account took place and that everyone involved is accounted for ☝️. So, it’s a safe bet to get one pronto before you even think about giving up your social media channels to potential customers.
Can’t I Just Hand Write it?
Well yes, you might be able to. This depends on whether the state you live🗺️ in provides a bill of sale document or not. As long as the document has all the necessary components and has the right signatures✍️, then you should be good to sell your social media presence.
However, it is generally easier to make changes and keep records with electronic copies. And, even if you choose to write your bill of sale, don’t forget to have a notary make it official.
Components of this Document
Different states can have different requirements for a social media account bill of sale. However, all bills of sale commonly include the following to ensure a great customer experience as you work on monetizing your online presence.
- Date of the transaction 📅
- The contact information of everyone involved
- What type of asset is being handed over (in this case, social media profiles on social media sites). Be sure to mention if this includes all your past social content creation and user-generated content. Similarly, explicitly state if you’ll maintain rights over your original content connected with the channel.
- A guarantee that the asset is free of any legal issues📝
- The purchase price
- Basic warranty details
- Signature of both parties and a notary
As you put together your contract for the business owner, make it clear that your social platform account is not a gift 🎁! It’s a social media tool that can significantly contribute to a business’s income 📈. It can attracting target customers, engaging active users, and increasing social engagement through social media marketing campaigns. So make sure to state that you’re selling your social media content and account for cold, hard cash.
Need Legal Help with Your Social Media Account Bill of Sale?
Selling big assets, including successful social media marketers’ accounts, can fetch you a pretty penny 💰 for your social media efforts. Your main customer care goal here may be to monetize your social media management skills as smoothly 🏂 as possible. That’s why creating a social media account bill of sale is so crucial as you sell your social channel accounts.
However, writing a social media account bill of sale can be a tedious process 😠. You’re an expert in social media marketing strategy and compelling content rather than legal forms, after all. You might even forget to mention a few things that can lead to more headaches down the line.
Why not put this responsibility in the hands of a professional 🏆? Lawyers deal with legal documents on a regular basis. We have put together a powerful tool for you: an effective and customizable social media account bill of sale. You can also book a consultation✍️ with us to learn more. Finally, you can use the valuable content in our blog posts and social profiles to hit your business goals. Don’t waste any more time; contact us today!