In a share purchase transaction, a buyer acquires the shares of a corporation that owns assets and carries on business. The buyer of the shares does not directly or indirectly acquire the assets or liabilities of the corporation whose shares are being sold. However, the value of the shares depends on the underlying value of the assets and liabilities of the corporation. Preference for this type of transaction for the buyer includes that the initial purchase price when purchasing shares may be lower than an asset purchase; there is no GST payable on a purchase of shares, a share purchase avoids the payment of a sales tax levied by jurisdictions that have a sales tax, processing the transaction may be less expensive because the buyer will not incur certain fees such as registering security against assets or land titles registration costs and a share purchase minimizes the disruption to customers, suppliers and employees of the business.