An Asset Purchase Agreement is a document that outlines the details surrounding either a business being bought out completely, or a large part of it. This will include the buying party to take on some of the liabilities associated with running the business. An asset purchase could also include but is not limited to properties, machines, specific equipment and even licensing.
An Asset Purchase Agreement template can be downloaded by clicking the link below.
In order to commence proceedings, a business (the buying party) must first notify the company selling their assets by submitting a Letter of Intent. This document can trigger negotiations.
There are several advantages of drafting an Asset Purchase Agreement which include:
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