Puerto Rico Sample Asset Purchase Agreement between RadiSys Corporation and International Business Machines Corporation - Sample
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FAQ
An asset purchase agreement is a legal contract to buy the assets of a business. It can also be used to purchase specific assets from a business, especially if they are significant in value.
The Buyer shall hold harmless, indemnify, and defend the Seller and their successors and assigns, against any and all claims, losses, damages, liabilities, and expenses (including, without limitation, settlement costs and legal, accounting, and other expenses in connection therewith) (collectively, the ?Damages?) ...
ASSET PURCHASE AND SALES AGREEMENT THIS AGREEMENT (the ?Agreement?) is made effective this [DATE] by and between [SELLER], (the ?Seller?) and [BUYER] (the ?Buyer?), referred to collectively as ?the Parties.? The Parties have reached an agreement regarding the Buyer's purchase of the [ASSET].
The asset purchase agreement is typically drafted by the buyer and seller of the assets. However, in some cases, it may be handled by an attorney.
It details exactly what assets are to be sold and at what price. This might include tangible assets, such as land, machinery, buildings, equipment and stock. It might also include intangible assets, such as goodwill, intellectual property and customer lists.
An asset purchase (or asset sale) is when a buyer purchases the assets owned by the selling entity. After signing the APA, the seller's business entity transfers ownership of its assets to the buyer's entity, while the seller retains legal ownership of the surviving entity.