There are several things to consider when selling a business. We’ll be going over some considerations to keep in mind as you begin this complex process. We hope to steer you away from some common mistakes that are made during the selling process as well as give you some guidance to point you towards success.
-Find an experienced business law attorney. You will work closely with this person during this process. This is the first guideline for a reason! It is so important to understand that with the help of an attorney, you’ll be able to avoid many common mistakes and ensure things go smoothly. Our business law attorneys at Hillyard, Anderson, & Olsen are experienced and currently accepting clients.
-Maintain confidentiality. Work with your attorney to create an effective NDA (Non-disclosure agreement). An effective NDA will be detailed, without unnecessary roadblocks that don’t belong there.
-Due diligence is the road to closing, not the obstacle. The faster you respond, the more transparent you are, and the more you disclose, the more comfortable the buyer will be. This reduces your own risk and ultimately gets deals to close.
These are just a few guidelines to get you going in the right direction. As you move forward with this process, make sure you have an attorney to work with who you trust and who has the expertise required. At Hillyard, Anderson, & Olsen, you can trust our business law team to provide you with the highest quality of legal care.