Asset Purchase: The assets in an asset purchase can be tangible (equipment, furniture, property) or intangible property (trademarks, goodwill). Asset purchases occur between a seller and buyer of a company's assets, including facilities, vehicles, equipment, stock, and inventory.An asset purchase agreement is a written legal instrument that formalizes the purchase of a business or significant business asset. THIS AGREEMENT FOR PURCHASE AND SALE AND TRANSFER OF OPERATIONS (this. Other than the Excluded Assets, Seller shall sell, transfer, convey, assign and deliver to Buyer, and.