An asset only purchase involves the purchase of the selling company's assets. This includes fixtures, vehicles, equipment, and inventory. This type of purchase is attractive to a buyer because they can pick and choose which liabilities, if any, they want to assume and which assets they want to purchase. The buyer can decide which of the seller's employees the buyer wants to "rehire" and which employees the buyer will not.
Unlike a stock purchase, the buyer in an asset purchase of a company does not have to worry about buying hidden liabilities. However, you still need an experienced business attorney to guide you through the sale to ensure that the assets you are purchasing have clear title, that if an equipment lease or commercial land lease is involved that the lessor will agree to transfer or assign the lease to you the buyer, and that the fixture, furniture and inventory are properly valuated. Since the buyer is purchasing only certain assets and not the corporation of the seller, our attorneys will also assist you to form your own business structure, whether it is a corporation or limited liability company.
The Experience You Need
At Jacobs & Dodds, we work to protect our business clients in sales and purchases of businesses. We will be there for you every step of the way to ensure that your interests are taken care of. Attorney Paul Jacobs has a breadth of knowledge when it comes to buying and selling businesses. Before entering private practice, Mr. Jacobs was corporate counsel for Thrifty Corporation in Los Angeles — the parent company for many subsidiaries including Big 5 Sporting Goods and Payless Drug. Part of Mr. Jacobs' job as legal counsel was to handle the purchase and sale of subsidiaries.
The attorneys at Jacobs & Dodds will help you through every aspect of the sale. We will ensure that you purchase the right assets. For example, if the company has a good reputation in its industry, we will make sure that you buy the intellectual property rights so you can continue to use the company name and trademark.
Orange County Asset-Only Purchase Lawyers
Contact Jacobs & Dodds for a free consultation with an experienced business law and transactions attorney or to speak with an experienced trial lawyer from our California business law firm.
Free initial consultations • Phone calls always free • Extensive trial experience • Located next to John Wayne-Orange County Airport