Acquiring a business can be executed in two primary ways: with or without its assets and liabilities. In an asset purchase, the buyer selects specific assets to acquire, providing more control and avoiding unwanted debts. Conversely, a stock purchase entails buying the ownership shares of the entire business, inheriting both assets and liabilities, which can include contracts, legal obligations, and debts. Careful due diligence, valuation, negotiation, and legal considerations are vital in both scenarios.