Commentary

208 Identifying which assets are to be transferred

BUSINESSES vol 4(2) start-up, sale and purchase

208 Identifying which assets are to be transferred

208 Identifying which assets are to be transferred

A business is only the sum of the individual assets and liabilities of which it is comprised, so early on in the negotiations the parties should seek to define precisely which assets and liabilities are to be transferred and which to be retained. Assuming that the business is being sold as a going concern, the sale is likely to consist of all or most of the following assets:

  1. 208.1

        premises;

  2. 208.2

        stocks and equipment;

  3. 208.3

        debtors and creditors;

  4. 208.4

        the benefit of contracts, including hire-purchase and leasing agreements;

  5. 208.5

        intellectual property;

  6. 208.6

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