A common business transaction in and out of bankruptcy court is buying and selling assets, whether they are physical assets like personal property, real estate, or intangible property like interests, goodwill, and claims. However, asset purchases can turn out to be deceptively complex transactions. The purchase of a company’s assets requires negotiating and drafting of an asset purchase agreement, as well as many other legal documents.
Sometimes, purchasing the assets of a company makes more sense than purchasing its interest because interests usually involve the underlying liabilities as well. Company asset purchases include both tangible and intangible assets. Tangible assets include items such as:
Intangible assets may include:
Practicing law in Denver, Colorado, with the highest degree of integrity, courtesy, competence and honesty, Kevin Neiman has represented numerous parties in asset sales and purchases during his nearly 20 years of practice, in and out of bankruptcy court.
An asset purchase agreement is a definitive agreement that finalizes all terms and conditions related to the sale of assets and is typically executed by the parties before the sale is finalized on the closing date. An APA is often complex, and the closing process can be complicated.