(i) A signed Asset Purchase Agreement. Asset purchase agreements can be a useful way to create a new business while leaving unwanted resources and potential issues with the seller.Find top rated North Carolina asset purchase agreement lawyers. Post your legal needs and get proposals from vetted lawyers in NC for your APA. In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity. What goes into a purchase and sales agreement? 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.