Asset Purchases and Sales
In an asset purchase and sale, only the business’s specified tangible or intangible assets are transferred to the purchaser. Therefore, the legal ownership of the business entity is not transferred.
Business assets can cover many types of tangible and intangible assets, such as desks and office furniture, computers, cars, and real estate. Intangible assets can be things like a brand name, patents, trademarks, copyrights, or customer lists, to name a few. If you plan to sell business assets, it’s a good idea to contact an attorney experienced in asset sales contracts.
Asset purchase agreements and sales contracts are particularly important to have in place when selling or buying intangible assets. Intangible assets like trade secrets, trademarks, copyrights, and patents can be sold and purchased. Still, it is essential to protect your interests by having a solid contract that certifies value.
Both buyers and sellers must be careful to protect their interests and rights in any transaction and need the counsel and representation of an experienced business attorney to guide them through the transaction. HoganWillig can help determine how to structure the sale, draft and negotiate agreements, perform due diligence, comply with disclosure requirements, and close the transaction.