The last update of our contracts to buy and sell a business was completed in
2008 by a licensed California attorney.
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Listed below is what our complete package contains:
1)
A Guide on
"How to Estimate the Value of Your Business."
This
guide explains some of the standard business valuation methods
used by business appraisers. This informative guide walks you
through the step-by-step process of estimating the value of
your business with simple examples.
2)
Report on How to Sell a Small Business - Selling a
business is a little more complicated than merely placing a
classified ad and waiting for the phone to ring. There are
several things to consider and many things that have to be
done before, during, and after the sales process. Our 9-page
report on selling a business will give you an overview of
the entire selling process.
3) California Confidentiality Agreement - So you can reveal details to potential buyers and be assured they cannot legally disclose those details to your competitors or others.
Business owners will often let prospective buyers come in and examine their company’s records, discuss company earnings, vendor lists, customer lists, and just about everything else without the prospective buyer ever signing a non-disclosure agreement. What a great way for a competitor or anyone else with bad intentions to learn almost everything about your business
just by asking.
The confidentiality agreement or non-disclosure agreement is a great screening tool as well; it shows how interested the potential buyer really is. After all, let's
say a potential buyer is unwilling to sign a non-disclosure
agreement. The most likely scenario is they are not that interested in buying your business and are more likely interested in handing information over to a competitor of yours or using your information to start their own business.
4)
California Business Purchase and Sale Agreement
- We provide you with an attorney-drafted business purchase
and sale agreement. A business sale agreement states what is being purchased, by whom, for how much, and when. In many cases it will also contain a "non-compete" clause which prevents the seller from restarting or being involved in a similar business within a set distance of the business being sold, and for a set time from the date of sale.
We also include a sample business purchase and sale
agreement that has been filled out. This sample agreement shows
the actual details of the purchase and sale of a business and
what a completed agreement would look like.
5) California Business Bill of Sale
- Once all the details are written down into the business
purchase agreement and both parties have signed the contract,
the sale will go ahead as agreed. On the date of sale, the
seller must present a business bill of sale to the buyer. This
bill of sale is like a receipt and states the buyer has indeed
bought and paid for the business. A business bill of sale form is included with this package.
To recap, here is what you will receive in our complete business purchase and sale agreement package:
- Guide to appraising your business
- 9-Page report on steps to selling a business
- California confidentiality agreement
- Contract for the purchase and sale of a
California business
- Sample contract for purchase and sale of a
business filled out
- Business bill of sale form for California
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