Wyoming Sale of Business - Noncompetition Agreement - Asset Purchase Transaction

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Multi-State
Control #:
US-00620
Format:
Word; 
Rich Text
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Description

This form is a Non-Competition Agreement. The purchaser agrees not to quote or produce any injection molding tooling or injection molding items for a certain period specified within the agreement. The parties also agree not to disclose any confidential information.
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  • Preview Sale of Business - Noncompetition Agreement - Asset Purchase Transaction
  • Preview Sale of Business - Noncompetition Agreement - Asset Purchase Transaction
  • Preview Sale of Business - Noncompetition Agreement - Asset Purchase Transaction
  • Preview Sale of Business - Noncompetition Agreement - Asset Purchase Transaction
  • Preview Sale of Business - Noncompetition Agreement - Asset Purchase Transaction
  • Preview Sale of Business - Noncompetition Agreement - Asset Purchase Transaction

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FAQ

While buyer's counsel typically prepares the first draft of an asset purchase agreement, there may be circumstances (such as an auction) when seller's counsel prepares the first draft.

In a stock acquisition transaction, if the acquisition is a qualified stock purchase and an election is made under Sec. 338, the stock acquisition is treated as an asset acquisition for tax purposes. Under this scenario, the buyer will have the privilege of a step-up in basis of the seller's assets.

An asset purchase agreement is exactly what it sounds like: an agreement between a buyer and a seller to transfer ownership of an asset for a price. The difference between this type of contract and a merger-acquisition transaction is that the seller can decide which specific assets to sell and exclude.

Recording the purchase and its effects on your balance sheet can be done by:Creating an assets account and debiting it in your records according to the value of your assets.Creating another cash account and crediting it by how much cash you put towards the purchase of the assets.More items...

An asset sale is the purchase of individual assets and liabilities, whereas a stock sale is the purchase of the owner's shares of a corporation. While there are many considerations when negotiating the type of transaction, tax implications and potential liabilities are the primary concerns.

An asset purchase involves the purchase of the selling company's assets -- including facilities, vehicles, equipment, and stock or inventory. A stock purchase involves the purchase of the selling company's stock only.

Generally, stock purchases are more straightforward than asset purchases. The parties sign the Stock Purchase Agreement and related documents that outline the terms of the deal, and the seller(s) transfer the target company's stock to the purchaser. With this the purchaser assumes all the target company's liabilities.

An asset purchase agreement is exactly what it sounds like: an agreement between a buyer and a seller to transfer ownership of an asset for a price. The difference between this type of contract and a merger-acquisition transaction is that the seller can decide which specific assets to sell and exclude.

An asset purchase involves just the assets of a company. In either format, determining what is being acquired is critical. This article focuses on some of the important categories of assets to consider in a business purchase: real estate, personal property, and intellectual property.

Among the terms typically included in the agreement are the purchase price, the closing date, the amount of earnest money that the buyer must submit as a deposit, and the list of items that are and are not included in the sale.

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Wyoming Sale of Business - Noncompetition Agreement - Asset Purchase Transaction