Selling your business – Due diligence (S3E58)

Learn what to expect during due diligence if you're looking to buy, sell, or invite investment into your business. In this episode, I talk about what to expect during due diligence, and how you can prepare: Who pays for due diligence? (and why you might want to consider a good faith deposit during negotiations) The important reasons you should use an NDA - nondisclosure or confidentiality agreement The different types of documents you'll be asked to provide Why you might be required to produce your tax returns or bank statements and other financial records Why you need to make sure that contracts with your key business relationships are in order How protecting your intellectual property now could mean a bigger profit if you decide to sell down the road Key takeaway: Not having your legal house in order can kill a buy/sell or investment deal in an instant. Preparing for due diligence with a trusted attorney and tax advisor can help ensure a successful transaction or agreement. If you need an NDA (nondisclosure / confidentiality) agreement like the one mentioned in this episode, be sure to check out our contract template store: https://awbfirm.com/contract-templates/  Our templates are fully customizable by you and available for immediate download! Additional resources: Legal Road Map® episode 43 with bookkeeper Heather Pranitis:  https://www.awbfirm.com/podcast43 Emily Ramsey with J. Smith Lanier in Chattanooga, risk management and insurance for large or high-risk companies, regardless of your location: https://www.linkedin.com/in/emilyramsey14/, http://www.jsmithlanier.com/ 5 minute IP Audit worksheet: http://awbfirm.com/podcast Contract template store: https://awbfirm.com/contract-templates/ This podcast is information, not legal advice specific to your situation.