In addition to hiring the most qualified business broker, when it is time to sell Internet business it is imperative that you get everything in writing. We have been selling Internet businesses for more than 20 years now and we understand how important it is to get everything in writing. When working with us to sell your online business, here are the main contracts you should be prepared to deal with.
The first contract is the one you sign with us. This contract gives us the go ahead to sell Internet business on your behalf. We will also offer you legal advice, tax advice and guide you throughout the sale so that you get the best results. The contract will also define the tasks and fee structures.
Confidentiality/ non-disclosure agreement
Once you give us the green light the first order of the day is to maintain confidentiality. We know how important it is to keep the sale a secret and that is why the first document we help you draft is the legally-binding confidentiality or non-disclosure agreement. This is the document that will be signed by every prospective buyer before they can get the sales memorandum.
This document is not legally binding but it is very important as you sell Internet business. It includes the following details:
- Business sector
- How long the internet business has been trading
- Main financial details like asset value, cash flow and total debt
- Job descriptions of employees and details on their salaries and other benefits
- Location of the business premises
- Structure of the business sale
As aforementioned, as you sell your Internet business it is imperative that you get everything in writing. All initial verbal purchase offers must be followed with a letter that sets out the key details. This should also state that the offer is subject to a contract; meaning it is not legally binding.
The offer from a prospective buyer will include the following:
- What the buyer is offering to buy
- Offer price and the payment terms
- Main information required by the buyer before making a firm offer
The above are just the main documents you should be prepared to deal with as you sell Internet business. Thanks to our years of experience, we will help you evaluate every document that is sent to you and ensure it is in order before you accept it. Our team will also help you manage the sale so that you not only close fast but for the right price. Contact us now to take advantage of our free consultation. We are always happy to hear from you.