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An asset sale is the purchase of individual assets and liabilities, whereas a stock sale is the purchase of the owner's shares of a corporation. While there are many considerations when negotiating the type of transaction, tax implications and potential liabilities are the primary concerns.
If an asset is sold for more than its book value, there is a gain; if an asset is sold for less than its book value, there is a loss; and if an asset is sold for exactly book value, there is no gain or loss. Often, plant assets are traded in for other plant assets.