Chapter 8 Preparing for a Due Diligence Legal Assessment

Let’s begin this discussion by pointing out the not so obvious. You will need to conduct three distinct legal activities as you prepare to sell your business, and you will need (and want) to keep those activities on separate tracks, so now is a good time to start thinking of the activities in this way.

The first legal track that will need to be performed is the work required to complete the deal transaction. This track is necessary to complete the legal transfer of your business to the new owner. Once the deal is closed, you don’t want there to be any strings attached that will pull you back needlessly, unless you have negotiated them in advance. The new owner will want to be sure there ...

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