A simple Asset Purchase Agreement is a contract between a buyer and a seller that sets out the terms and conditions related to the purchase and sale of a company’s assets.
This should not be confused with a stock purchase agreement, as these documents are different. An Asset Purchase Agreement (APA) is one of the most commonly used documents in commercial transactions. This document also defines the rights and liabilities of each party to the transaction.
What is Typically Included in a Simple Asset Purchase Agreement?
Generally, an Asset Purchase Agreement includes the following:
- Identification of the specific assets that are being purchased.
- Assets that are excluded from the sale.
- The terms and conditions of the sale. This lists the purchase price and purchase price adjustments, purchase price allocation, and mechanisms related to dispute resolution.
- The purchase price.
- Information regarding the assumption of liabilities by the purchaser.
- Date of closing that also includes any conditions imposed upon the parties at closing.
- Warranties of the purchaser.
- Warranties of the seller.
- Terms of delivery of the purchased assets.
- Indemnification for costs that may arise once the transactions are finalized that result from pre-existing conditions.
- Specification of special tax treatment that the seller or buyer is entitled to.
- Employee benefits and terms on how to handle accrued bonuses once the transaction is finalized.
Why Should You Hire a Lawyer for the Formation of a Simple Asset Purchase Agreement?
When it comes to an Asset Purchase Agreement, the more information and details included, the better. Hiring an attorney for getting a standard Asset Purchase Agreement framed is a good idea because the terms and conditions are too complicated for most laymen to navigate. You may also not have time to devote to researching the matter yourself. This is when you need knowledgeable legal services to help you sail through the whole process easily. The Law Firm of Vaughn, Weber & Prakope, PLLC is a team of veteran lawyers who have years of experience in serving a large client base.
To ensure the whole process goes well, hire a lawyer who is competent enough to provide smart legal guidance.
By hiring the lawyers at the Law Firm of Vaughn, Weber & Prakope, PLLC, you can utilize the following legal services:
- Legal Advice
With highly experienced lawyers like us, you won’t go wrong when it comes to framing a standard Asset Purchase Agreement because we look into the minute details and work to get the most appropriate outcome for you. We closely assess each term and condition while framing the agreement. In case there are points that can cause a problem in the future, our legal services are efficient enough to identify them during the process.
Both parties can be on the same page if there is a mediator present between the buyer and the seller. You can reach a mutually beneficial settlement by deciding to hire a lawyer.
The negotiations involved in a simple Asset Purchase Agreement can be long and complex. Your lawyer can deal with the negotiations between the involved parties and close the deal in a satisfactory manner.
There are numerous documents involved in the process of selling or purchasing the assets of a company. The Law Firm of Vaughn, Weber & Prakope, PLLC will help you in drafting the agreement and getting all the required documents in place to prevent any legal glitches. This will ensure the presence of every necessary document, with nothing left out.
Contact the Law Firm of Vaughn, Weber & Prakope, PLLC
Before a deal can be closed, there are many legal documents that need to be verified and signed. If you try to do it on your own, you will face hurdles. This won’t be the case if you seek legal guidance from the Law Firm of Vaughn, Weber & Prakope, PLLC. We will prepare everything and provide every legal solution to make the process easy and simple for you.