Business Sales & Purchases
There are two methods of buying a business. One is an asset purchase. This is used to buy a business from a sole trader or partnership. It can be used to buy assets from a limited company.
The other, where the business is operated as a limited company, is to buy the shares in that company.
The two are fundamentally different. If shares in a company are purchased, all its assets, liabilities and obligations are acquired (even those that the buyer does not know about). If assets are purchased, only the assets (and liabilities) which the buyer agrees to obtain and which are identified are acquired.