Selling Your
Business
If you are interested in selling your business, you are in the right place.
Selling your business requires careful planning and execution. Before you sell your business there are many issues to consider. These issues can occur during the listing, LOI, purchase agreement, pre-closing, and closing stage of the process.
Here are a few of the important issues Sellers should consider when selling their business:
- Where Can I Get Advice Before Selling?
- Who are my Potential Buyers?
- Who else do I need to Help me with the process?
- How Do I Negotiate a Letter of Intent (“LOI”)?
- How Do I Negotiate a Sales Agreement?
- What Issues Can I Expect During the Due Diligence Phase?
- What Happens at Closing?
- I Have Closed the Deal, Now What?
Get Important Advice
- Help You Analyze Your Exit Options
- Help You Understand How Businesses are Valued
- Help You Negotiate an Agreement with a Broker
- Help You Negotiate and Draft a LOI
- Help You Negotiate and Drat a Sales Agreement
- Help You Comply with Your Due Diligence Requirements
- Help You Comply with Contracts, Rules and Regulations
- Help You Prepare for Closing
- Help You During Closing
- Help You After Closing
Key Partners
- Business Broker
- Industry Expert
- Valuation Expert
- Accountant and Tax Professionals
- Special Legal Support
- Consultants
Negotiate LOI
- Price Terms
- Assets of the Entity to be Sold
- Key Dates for Disclosure
- Key Timeline for Due Diligence
- Scope of NDA and Confidentiality Agreements
- Contingencies of the LOI
- Date to Move from LOI to Contract
- Complete the Vetting of the Buyer
Negotiate Purchase Agreement
- Negotiate the Price and any Contingencies
- Negotiate & Identify the Physical Assets Being Sold
- Negotiate & Identify the Intangible Assets Being Sold
- Negotiate and Identify the IP Assets Being Sold
- Negotiate the Assignment of Key Contracts and Releases
- Negotiate & Identify the Company’s Liabilities to be Assumed
- Identify the Key Timeline for Additional Due Diligence
- Negotiate Worker Benefits
- Negotiate Remedies for Breach
- Negotiate the Deposit
- Negotiate Seller Financing, if Beneficial to Seller
- Negotiate Transition Management Terms
- Negotiate Other Key Terms
- Draft the Sales Agreement
- Draft Due Diligence Confidentiality Agreement
- Draft Due Diligence Non-Compete Agreement
- Draft Due Diligence Non-Disclosure Agreement
- Draft Due Diligence Non-Solicitation Agreement
CAUTION: DO NOT ALLOW A BROKER, SELLER, OR BUYER’S ATTORNEY TO FORCE YOU INTO SIGNING THEIR AGREEMENT.
Due Diligence
Organize, Review and Provide Financial Statements
Organize, Review and Provide Real Estate Records
Organize, Review and Provide List of Tangible Assets
Organize, Review and Provide List of Intangible Assets
Organize, Review and Provide Employee Files
Organize, Review and Provide Non-Employee Worker Files
Organize, Review and Provide Vendor Files
Organize, Review and Provide Suppler Files
Organize, Review and Provide Bank Statements
Organize, Review and Provide Business Tax Returns
Organize, Review and Provide Litigation History and Cases
Organize, Review and Provide Organization Records
Organize, Review and Provide Proof of Good Standing
Organize, Review and Provide Auditor’s Letters
Organize, Review and Provide Company’s Budgets and Plans
Organize, Review and Provide Internal Control Procedures
Organize, Review and Provide Other Relevant Records
Ensure Enforcement of Due Diligence Protection Agreements
Address Issues as they Arise
Negotiate Addendums Based on Due Diligence
Closing The Deal
- Prepare for Closing
- Closing Checklist
- Escrow Services
- Review, Analyze and Advise on Closing Documents
- Ensure Assignments of Key Contracts
- Ensure Releases of Liability on Key Contracts
- If Seller’s Financing, Ensure Adequate Collateral
- If Seller’s Financing, Ensure Security Agreements Signed
- If Seller’s Financing, Ensure Correct Documents Recorded
- Ensure IRS Compliance
- Confirm Transition Management Issues Addressed
Manage Risks
- Asset Protection Planning
- New Venture Planning
- Estate Planning
- Segmentation of Risky Assets
- Key Contracts to Limit Risks
- Key Insurance to Cover Risks
- Ready Access to Private Corporate Counsel to be Proactive
Effective Tools
Anti-Discrimination Policies
Anti-Harassment Policies
ADA Policies
Vacation, Sick Leave and Volunteer Leave Policies
Pay and Overtime Policies
Conflict Resolution Policies
Performance Improvement Plan Policies
Grooming and Dress Policies
Media Policies
Social Media Policies
Crisis and Disaster Relief Policies
Start Building Your Crisis Management Plan Today
Download your free guide, Managing Your Business Through a Crisis: 7 Steps to Success, and discover the top recommended ways to prepare your company for the unexpected.
Get Personalized Guidance From PCC
Request your free consultation and we’ll get you started on implementing strategies to protect your business.