Get a Free Business Legal Evaluation. Fill out the form below and one of our team members will be in touch immediately!Use a Business Bill of Sale to set out the terms for the sale of a business and transfer the ownership and all assets to the buyer. Our experienced business transactions attorneys in Mesa can guide you through every step of the process, from asset purchase agreements to stock sales. Our guide aims to equip you with the knowledge and tools needed to ensure a successful and profitable business transaction in the dynamic Arizona market. In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity. Both the seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity.