This form is an Asset Purchase Agreement. The buyer agrees to purchase from the seller certain assets which are listed in the agreement. The form also provides a listing of certain assets which will be excluded from the sale. The form must be signed in the presence of a notary public.
Asset Purchase In M\u0026amp;a In North Carolina
Category:
State:
Multi-State
Control #:
US-00418
Format:
Word;
Rich Text
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FAQ
The Procurement process provides a basic Asset Management lifecycle for procuring assets. It uses related actions on a corresponding Configuration Management process, so you need to ensure that the default process for each CI type you want to use with this process includes these actions.
Asset management is the process of planning and controlling the acquisition, operation, maintenance, renewal, and disposal of organizational assets. This process improves the delivery potential of assets and minimizes the costs and risks involved.
Asset sales offer tax advantages and selective asset acquisition, but can be complex and require additional time and costs. Equity sales provide simplicity and continuity, but require the buyer to assume all liabilities. Both types of transactions involve important accounting considerations and post-close diligence.
The biggest difference is that an SPA is the sale of all shares, and an APA is the sale of selected assets. Therefore, they are both different transactions and have different procedures.
First and foremost, it is typically the buyer's responsibility — not yours as the seller — to draft the Definitive Agreement. This will not begin until both the buyer and the seller sign a Letter of Intent indicating their intention to buy/sell the business.