That answer works very well for me, Michael, thanks.
I'm not sure I understand. If you sold the company did it not own the assets? The answer to your question cannot be answered without knowing if it was a corporation, LLC, sole prop (unincorporated business). etc. In other words, who owned the assets, you or the company?
It was a sole prop, and below is how the Letter Purchase Agreement started. For fun, you might want to see if you can spot the mistake that the lawyer made.
I, State my name, on my own behalf and on behalf of [My Company Name]
(hereinafter referred to as "I", "my", or "me") offer to sell and deliver to
you, [Purchasing Company], (hereinafter referred to as "you" or "your"), on
February 1, 2006 (the "Effective Date"), all right, title and interest in and
to the intellectual property (including with limitation, all trademarks, trade
names, patents, right to patent, copyrights, trade secrets, licenses and
proprietary and confidential information) created under the name of, or used in connection with [my company] as of the Effective Date (collectively, and as more fully described below, the "Products").
1. The Products include, without limitation, the following:
a. The copyrights known as the following programs:
Blah blah blah
Blah blah blah
Blah blah blah
Blah blah blah
Blah blah blah
b. All derivatives, modifications, reissues, continuations or
extensions (collectively, "Derivatives") of the Products, the name "Company Name" (and any derivatives of such name), the knowledgebase for Product name technical support questions, all software and state and federal
registrations relating to the Products, the third party library and the website located at blah blah.
c. The source code of the Products in human-readable form and all
written documentation helpful in understanding the source codes and the
knowledgebase for blah technical support questions...
d. All customer databases relating to the Products, which include
customer information and order information for all sales of the Product from
the first blah sale in 1993.