To embed, copy and paste the code into your website or blog: The purchase of applications (or apps) is a comprehensive arrangement that includes the transfer of a variety of rights and assets, including intellectual property (IP) rights, software, human resources, equipment, and infrastructure, as well as the transfer of related contracts, accounts, and data. In this Contract Corner, we highlight key considerations for developing an application purchase agreement. Acquisition Strategy In order to develop a successful acquisition strategy, it is key to understand the “essence” of the application that the buyer intends to purchase, i.e., the most valuable part of the application. For example, it could be proprietary software that forms the core of the product, a top-notch development team, or a great user base.