A Corporate Separation Agreement is a legally binding document designed to protect each party in the case of a business separation, such as when an owner or partner leaves a business. This agreement outlines the terms of the split, including responsibilities, rights, and benefits for both parties. It can also include details such as ongoing payments, restrictions on competition, and confidentiality clauses. By clearly laying out expectations and obligations, a Corporate Separation Agreement ensures that both sides have a fair and equitable solution.