Does it matter if the business's website and social accounts aren't actually owned by the company?

Yes, and this is a surprisingly common gap. Websites and social media accounts are frequently registered in the name of a founder, an outside marketing contractor, or a web developer rather than the corporation itself, especially in businesses that grew organically without much formal record-keeping. If you're buying the business expecting its existing online presence and customer following to come with it, and those accounts legally belong to someone else, that person can walk away with them, change the passwords, or simply refuse to hand over admin access after closing.

This is a due diligence item that's easy to overlook because it feels informal compared to a lease or a contract, but the practical impact of losing your customer-facing website or social following on day one can be significant. Confirm who actually controls the registrar accounts, hosting, domain, and social logins, not just who built or manages them day to day.

Your purchase agreement should specifically require transfer of these digital assets and account credentials at closing, not leave them to be sorted out informally afterward. A Treadstone business lawyer can help make sure this is captured in the closing deliverables.