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In this video, John McGuire from the McGuire Law Firm discusses asset purchase agreements, contrasting them with stock purchase agreements. He explains that an asset purchase involves buying the assets of a business, typically by a newly formed entity. The selling business may dissolve if it sells the majority of its assets. Asset sales can benefit buyers, as they can claim the purchase amount for depreciation. The advantages and disadvantages vary based on whether one is the buyer or seller. McGuire invites viewers to reach out to his firm for any questions or a free consultation with a business attorney.