Sell-Side FAQs
Building a business takes years of hard work, risk-taking, and personal investment. Whether due to retirement, a desire to pursue new ventures, financial considerations, or unforeseen circumstances, there often comes a time when a business owner must consider selling their company. Selling a business is a complex and emotional process that involves far more than simply finding a buyer and agreeing on a price. Owners must think strategically about timing, valuation, operational readiness, tax implications, succession planning, and how to maximize the value of what they’ve built. Preparing early and understanding the key considerations can make the difference between a smooth, profitable transition and a stressful, undervalued sale.
Below are frequently asked questions business owners should keep in mind as they plan for an eventual exit:
What is the process of selling my business?
Selling a business can vary in length of time but most deals should comprise of major milestone stages including but not limited to valuation, due diligence, contract, and closing. Ensuring you have trusted advisors with significant experience is instrumental in a successful deal.
Do I need a lawyer to sell my business?
It is key to have a lawyer included in the sale of your business process. A lawyer is a part of a team of trusted advisors that help to bring your sale to close. There are other service providers that are part of the team but each bring a certain expertise and understanding of the sale.
What legal documents are involved in the sale?
For a proper sale of business there are specific documents that are necessary and vary in terms of deals but all should be reviewed and approved by your M&A attorney for a smooth sale process. Documents include but are not limited to: Letter of intent (LOI), Asset Purchase Agreement (APA) vs. Stock Purchase Agreement (SPA), Non-disclosure agreement (NDA), and Bill of Sale.