Selling the shares you hold in a company vs. selling the assets out from the under the company can make a big difference in taxes, who assumes certain liabilities and what happens to certain contracts. There are challenges with each, such as the assignment of customer agreements with an asset sale, and change of control clauses in stock sales. We’ve known Ney Grant, an M&A Advisor on the west coast, for many years and he has recently released what looks to be a quality eLearning program (a series of 25 videos and materials) on how to sell your middle market business. He has shared his video with us on Stock vs. Assets sales which describes, in very visual terms with a stack of cash and toy tractors, what really happens in a stock sale vs. an asset sale and why buyers typically prefer asset sales.