Sale of business agreement

sale of business agreement: in company law and business law, a contract or agreement which legally transfers the various assets used to conduct a business from the seller to the buyer; these assets could include the business goodwill, stock in trade or work in progress and the benefit of contracts that generate revenue for the business; sometimes called a business transfer agreement or asset purchase agreement; distinct from a share purchase agreement, pursuant to which the shares in a company are sold, rather than all the business assets of the company.