Selling Your Business? Here's What to Know Before You Sign

Selling a business can take years to get right, and the legal work often starts long before anything is signed. What should you do to prepare? When should a lawyer get involved? And what actually happens between the letter of intent and closing? In this episode of FH&P Lawyers' Law Talk, Partner Clay Williams sits down with lawyer Dustin Merritt to talk about preparing a business for sale, letters of intent, due diligence, purchase agreements, and what happens when the deal finally closes.Clay and Dustin discuss:• How to prepare a business for sale• Why removing yourself from day-to-day operations increases value• When to bring in accountants and business brokers• Whether a formal business valuation is necessary• When a lawyer should get involved in a sale• What a letter of intent is and why it matters, even though it is non-binding• Why exclusivity periods need limits• Share sales versus asset sales• How due diligence and financing come together• What representations, warranties, and holdbacks protect against• Why non-competition agreements hold up in a business sale• What to consider with employees during a transition• Who tends to make the best buyer: employees, competitors, or outsidersIf you are thinking about buying or selling a business, this conversation offers a practical look at what to expect and where to get legal advice early. Book a Consultation with FH&P Lawyers.This content is for informational purposes only and does not constitute legal advice.FH&P Lawyers | Rooted in Community. Ready to Help.#BusinessLaw #BuyingABusiness #SellingABusiness #BusinessTransactions #CorporateLaw #FHPLawyers #LawTalkPodcast #OkanaganLawyers #KelownaLawyers #PentictonLawyers