Buy a Business in South Carolina
When a South Carolina business entity or individual plans to buy a business, it will generally be structured either as an acquisition or as a merger.
Buy A Business As An Asset
Acquisitions can be in the form of an asset purchase. This is when there is a purchase of substantially all of the assets of the selling business and the buyer may buy the seller’s assets free and clear of any liabilities, or may assume some liability. The asset purchase agreement identifies the business’ tangible property the buyer will acquire, the intangible assets, such as employment agreements and other contracts and leases, and will additionally identify the business’s trademarks. The asset purchase agreement also identifies liabilities that the buyer will agree to assume. After the closing of the sale, the business entity itself remains in the hands of the seller.