When a business is purchased or sold, the acquisition could be through an asset purchase agreement. Under an asset purchase agreement, the actual assets of the business are purchased. This could include the inventory, accounts receivable, furniture, equipment, fixtures and intangible assets such as copyright or trademark rights, or patent rights & licenses. An asset purchase also has tax implications to both the seller and purchaser, which you may want to discuss with your business attorney and/or tax attorney.
The video below has been prepared by a business attorney and tax attorney from The McGuire Law Firm. If you are considering selling your business or buying a business, consult with a business attorney or tax attorney regarding your specific issues.
The McGuire Law Firm provides a free consultation for all potential clients.