An Asset Purchase Agreement (APA), is an agreement for the sale of tangible and intangible assets and liabilities of a seller to a buyer in return for cash or for something of value. In other words, if you are buying or selling a business, to avoid future problems and litigation, it is necessary to have the terms and conditions clearly defined.
The buyer must show authority to purchase the asset, and the seller must represent its authority to sell the asset. Additionally, the seller represent that the purchase price of the asset is equal to its value, and that the seller is not in financial or legal trouble.
For a well crafted and successful APA, you’ll want the assistance of a skillful and experienced attorney.
Important sections of an APA include:
- A bill of sale
- Terms and provisions
- Assignment and assumption agreements
- Intellectual property assignments
- Real property transfer documents
- Representations and warranties
- Arbitration clause
- Jurisdiction provisions
- Closing conditions
- Effective dates
- And more…
The business law attorneys at Brian Webb Legal will create or review your Asset Purchase Agreements in accordance to Idaho’s governing law and requirements. Our experts have the knowledge, skill, and experience not only to create the asset purchase agreement, but to negotiate on behalf of the buyer or seller which liabilities are assumed or left behind.
For help or more information regarding an asset purchase agreement, call our office 208-331-9393 to schedule a consultation.