This guide will break down the ins and outs of asset purchase agreements for multiple owners, making this complex legal topic more digestible and actionable. The fundamentals of Asset Purchase Agreements (APA).The basics: What is it, who signs it, and what are you selling. Asset purchases occur between a seller and buyer of a company's assets, including facilities, vehicles, equipment, stock, and inventory. These agreements usually require the seller to agree to not seek out or negotiate with any other potential buyers for a specified period of time.