An asset purchase agreement is a written legal instrument that formalizes the purchase of a business or significant business asset. Asset purchase agreements can be a useful way to create a new business while leaving unwanted resources and potential issues with the seller.In an asset purchase, the purchaser only acquires the assets and liabilities it identifies and agrees to acquire and assume from the seller. How to draft a clear asset purchase agreement and learn about standard and nonstandard clauses. Michelle will walk you through how to fill out the 2023 MN Purchase Agreement for KWPR.