This guide provides the steps to create a purchase order that will generate an asset record in the Asset. Asset purchase agreements are a useful way to: Carve out certain assets of a business without taking on liabilities or debt obligations.All liabilities and obligations arising out of operation of the Business or the use or ownership of the Acquired Assets from and after the Effective Time. Find information about contracting with Hennepin County, including processes, forms, and diversity rules for goods and biddable services. An asset purchase agreement is a written legal instrument that formalizes the purchase of a business or significant business asset. This post will address employment law considerations that should be discussed in the due diligence phase of a proposed acquisition.