SW Transfer Process for Asset Sale

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by an investor from Massachusetts Institute of Technology - MIT Sloan School of Management
in Seattle, WA, USA

1yr ago

SW Transfer Process for Asset Sale

We are a month from completing the acquisition of ~$1M business via an asset sale. What are the most efficient ways to handle the transfer of third party software (i.e. Keap, Canva, Docusign, GoogleSuite, etc.) and web assets. Do we need to call each one and update the new EIN/entity info, or simply change the billing and account info?
Thanks!

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reply by a searcher 1yr ago
from Belmont University in Jacksonville, FL, USA

Changing billing and account info should be sufficient for most of these types of software.

Some accounts, like advertising accounts and others do have a KYC process you’ll have to go through with the new entity.

But Steve’s process is a good way to do it. Making sure email addresses, billing addresses, and EPSPECIALLY 2FA is changed.

reply by a professional 1yr ago
from University of Pennsylvania in New York, NY, USA

Technically speaking, many of these licenses require the consent of the licensor to be assigned. As a practical matter, as long as the monthly bill gets paid, service will continue. The recommendations above are good practice.