Our Asset Purchase Agreement package is suitable for the acquisition of the assets (and assumption of liabilities where appropriate) of a target company or business. It can be used to acquire a business from an entity or just certain, specified assets.
Once the assets and liabilities that are to be subject to the acquisition have been clearly identified, consideration needs to be given as to how these will be transferred to the buyer. Some will be capable of passing by delivery but others, such as goodwill, will require a deed of assignment to transfer ownership.
In addition, thought needs to be given as to whether or not the asset purchase constitutes a business transfer, in which case the Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE) will apply and certain employees may be transfered automatically to the buyer.
What does our Asset Purchase Agreement package include?
- Detailed Consultation – with one of our solicitors to provide advice and to take detailed instructions.
- Asset Purchase Agreement – a comprehensive agreement drafted in accordance with your instructions.
- A Deed of Assignment – to assign the goodwill and other assets that are not capable of passing by delivery.
- Notices to employees and suppliers – to inform them of the transfer of the business.
- Written resolutions of the members and the board – as required to approve the asset transfer.
- Liaising with you and your accountants as required