Britton Law, P.A.
Free Consultation For Injury Cases
Due to precautions related to COVID-19, remote consultations via teleconferencing, Facetime or Skype are available. Please contact our office to discuss if this option is appropriate for your situation. Let’s all stay healthy and safe.

Asset purchase agreements can be tailored to the case

Buying or selling a business in North Carolina raises many issues that entrepreneurs have to deal with. The process of transferring an ownership interest should include an examination of the factors that make the business unique. Someone selling a business may open themselves up to liability if contracts, employee issues, intellectual property, tax matters and financial statements are not in order and correctly addressed in the deal.

Typically, the document used to effect a transfer of ownership is called an asset purchase agreement. In some cases, it may be called a buy-sell agreement or something similar. Regardless of what the document is titled, it may be tailored to address the purposes and complexities of the deal, as well as the needs and goals of the parties involved. For example, an asset purchase agreement can include provisions that lay out what will happen when a shareholder or other owner of the business retires, dies or becomes disabled. In a family business, the agreement could include a clause that gives family members the first right of refusal if someone wants to sell an interest in the business.

Business owners should make sure that their estate plans and asset purchase agreements do not have conflicting provisions. The death of a shareholder is a trigger for the operation of the asset purchase agreement in some cases, and problems can arise if the person's estate plan does not properly address the business interest.

Before buying or selling a business, it may be wise to obtain legal representation. A lawyer with experience in business law might examine the facts of the case and draft an asset purchase agreement that meets the client's goals. Buying and selling businesses can be complicated, but the assistance of a professional may quicken the process and give the client peace of mind.

No Comments

Leave a comment
Comment Information

Send Us An Email. We’ll Listen.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Britton Law, P.A.
2850 Village Drive, Suite 206
Fayetteville, NC 28304

Toll Free: 888-811-9738
Phone: 910-401-3356
Fayetteville Law Office Map

Britton Law, P.A. Office

Call Our Law Firm:

910-401-3356 ~or~ 888-811-9738
Asset purchase agreements can be tailored to the case | Britton Law, P.A.