If you’re going to sell your business, your prospective buyer will want to check things out carefully before they sign on the dotted line.
This investigative process is called “due diligence” and you can’t blame the buyer for wanting to examine the merchandise carefully.
The last thing they want is exposure to your business’s liabilities (known or unknown).
Want to know what your new buyer will be checking out? Read my new article titled Tax Tips: Selling Your Business: Be Prepared to Meet Buyer’s Due Diligence Requirements.
Three ways our fact-filled article can help you:
- You’ll learn what to do if you’re conducting an asset sale. For starters, you have to understand the federal bulk sales law stated in Article 6 of the Uniform Commercial Code. It requires sellers to give creditors notice of asset sales under terms specified by local law. We’ll explain the impact of the bulk sales law on your impending sale when you read the full article.
- We’ll tell you how to handle the sale of your ownership interest. If this is the route you’re going take, you can expect your buyers to be even more concerned about exposure to your business’s liabilities. We’ll explain what their due diligence research may include when you read the full article.
- You’ll learn the best seller strategy of all. It’s really pretty simple. To make the sale of your business go smoothly, anticipate what will come up when your buyer starts the due diligence process. Then act promptly to facilitate their investigation. We’ll tell you how when you read the full article.