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Considerations in Selling Your Business - Part 9: Letter of Intent

by Patrick B. Mathis, Shareholder at Mathis, Marifian and Richter, Ltd.

Letter of Intent

Once the parties have reached an agreement as to the essential terms of the transaction, whether orally or through a written term sheet or correspondence, in most cases the next step is a letter of intent, or LOI. While not as detailed as the final definitive agreement between the parties, the intent letter outlines the essential terms of the deal.

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Considerations in Selling Your Business –- Part 8: Sale Negotiations

by Patrick B. Mathis, Shareholder at Mathis, Marifian and Richter, Ltd.

Sale Negotiations

Discussions and negotiations regarding the sale of a business may be initiated and conducted in various ways.

In some cases an interested party may approach another business expressing an interest in an acquisition. This may be a direct approach by the buyer, or through an agent such as a business broker or attorney. In other instances, sellers may initiate sale discussions with an identified likely buyer, or multiple potential buyers, either by direct contact or again through an agent such as a broker or attorney.

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Considerations in Selling Your Business- Part 7: First Step with the Buyer - The Confidentiality Agreement

by Patrick B. Mathis, Shareholder at Mathis, Marifian and Richter, Ltd.

The Confidentiality Agreement

Whether the seller elects to approach potential targeted buyers, utilize an intermediary such as an attorney or broker to make those contacts, or is solicited by a potential purchaser, the first step in any such discussion should be a confidentiality agreement entered into between the buyer and seller.

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