Selling your business – Succession planning for a successful sale (Legal Road Map® Podcast S3E61)

It's easy to want to check out when you're ready to sell your business, but making sure you have a team in place to help with a smooth transition is an essential part of the sale process. In this episode I talk about important questions to ask and preparing your team for the sale of your business: Important things to consider when thinking about who will run the business after you sell Terms to have in writing if you plan to stay on after the sale to help with the transition Why you might be required to sign a non-compete agreement Making sure your trade secrets are protected by nondisclosure agreements The right time to let your key employees know about the sale of your business Making sure your employees and independent contractors are appropriately qualified before you sell What you need to know about your independent contractor contracts before you sell Key takeaway: Making a break from your business can be a stressful process, but with the right people and protections in place, you can confidently move on to the next adventure. Additional resources: Contract templates: https://awbfirm.com/contract-templates/ Episode 12: https://www.awbfirm.com/podcast12 Episode 37: https://www.awbfirm.com/podcast37 This podcast is information, not legal advice specific to your situation.