Document background
The Business Asset Purchase Agreement is a fundamental document in Irish corporate transactions where one entity wishes to acquire specific assets of another business rather than purchasing shares. This agreement is commonly used when buyers want to cherry-pick particular assets while avoiding certain liabilities, or when purchasing assets from a larger business unit. It must comply with Irish law, including the Companies Act 2014, Transfer of Undertakings regulations, and various tax requirements. The document typically includes detailed schedules of assets, employee provisions, warranties, and specific completion mechanics. It's particularly important in restructuring scenarios, partial business sales, or when acquiring specific business units or asset collections.
