An asset purchase agreement is a legal document used when buying or selling a small business. Read on to understand the basics.ASSET PURCHASE AGREEMENT from SOFTECH INC filed with the Securities and Exchange Commission. This business sale agreement template can be used as a binding document to govern the sale of a business to a new owner. Establish terms for sale and purchase of an asset. In the event that the Contract requires any Engineering. How to fill out the Agreement of Purchase and Sale of Business Assets? 1. Read the entire Agreement carefully. 2.