Asset Purchase Agreement
Who drafts the asset purchase agreement?
I have just put my business up for sale and doing some research on what legal documents will be needed in the future.
1 Attorney answer
It depends. In many cases the lawyers representing the seller draft the asset purchase agreement. This is not always the case and at least forty percent (40%) of the deals I have worked on have featured the buyer drafting the asset purchase agreement. Who drafts the agreement may often depend upon who is in a stronger position and/or who has attorneys with the bandwidth to properly support the deal, as envisioned in the relevant term sheet.