THIS ASSET PURCHASE AGREEMENT (this "Agreement") is entered into as of October 28, 2011, between GEL INDUSTRIES, INC. This Agreement is for the purchase of assets only, and.An asset purchase agreement (APA) is a legal document through which a business can sell its property, tangible or not, to another party. Get a free sample here! Step 1 – Fill Out the Buyer and Seller Information. 1. Seller. 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.