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Acquisitions

Asset Purchase Agreement

Texas

Asked on Mar 31, 2021

What is the difference between an asset purchase agreement and business purchase agreement?

I am selling my e-commerce store and want to know which one of these I need.

1 Attorney answer

Answer

Acquisitions

Texas

Answered 243 days ago

Forest H.

ContractsCounsel verified

Business Lawyer
Licensed in Florida, Tennessee, Texas
Free Consultation

Just like the name suggests, an asset purchase agreement is just that – an agreement to purchase existing assets. This would be the appropriate document to use if you are buying or selling some or all of the assets of a business but not the business itself. For example, if you own a yard service company and you are interested in buying all of the mowers, trucks, and equipment of another yard service business. An asset purchase agreement would give a defined list of the equipment you are purchasing. If you were interested in buying the whole business, including existing contracts, assuming the debt, and retaining the other business’s employees and perhaps even their name, you would want a business purchase agreement.

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