The owner or owners of a business may be named individually as a party in an asset purchase agreement. What does this mean for the individual owner of owners? The overall impact will generally be dictated by the representations and warranties the business owners are making throughout the asset purchase agreement. That being said, if you are a business owner and selling your business, it is important to understand the implications, overall exposure and potential ways you could limit your personal liability and exposure. Contact The McGuire Law Firm to discuss the sale of your business with a business attorney.