Identify the parties involved in the transaction. 2. Learn what a business purchase agreement looks like and how to draft one effectively.The easiest way to create a Business Purchase Agreement is to use a template that is customized to your state. A business purchase agreement marks the official start to the sale of a business. Read our blog to better understand each part of this important document. I'm gonna break down all the terms and conditions so you can understand what it means and we're gonna fill that out so you can have a real-life example of it. An Asset Purchase Agreement is an agreement between a buyer and a seller of a business as to the terms and conditions of the sale of the business. This guide will help you understand how to fill out and sign a business purchase agreement template so that everyone's best interests are protected.