A company consists of the totality of assets, rights and obligations as well as any other relevant economic assets. When a company is purchased, the object of sale, i.e. the assets of the company, or parts thereof, must be specified in the asset deal.
The necessary requirements have to be taken into account for an orderly and proper transfer of the subject matter of the contract therefore. The relevant regulations under German law which legally specify a transfer of rights and obligations from the seller to the buyer also have to be observed.
For further information please contact Dr Erich Michel, Wessing Berenberg-Gossler Zimmermann Lange, Freiherr-Vom-Stein-Strasse 24-26, Frankfurt am Maim 60323, Frankfurt, Germany- Tel: +496 997 1300, Fax: +496 997 130100.
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