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BizBen Discussions, Comments, Replies About Legal Issues

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What Is The Difference Between An LOI And A Purchase Agreement?

Was discussing this question/topic with a potential restaurant buyer the other day about the differences between a Letter Of Intent and a Business Purchase Agreement. I sell restaurants and buyers typically get ask about which document they should submit when making an offer on a business.

What Do I Need To Disclose To A Prospective Buyer Of My Business?

When selling a small business you always run the risk of a lawsuit. They aren't as common as one may think in this litigious world in which we live in, but whenever there is money exchanging hands & attorneys involved the stage is set for a lawsuit. Various ProIntermediaries share their viewpoints.

How Long Should Business Brokers Hold On To Their Client And Deal Files?

As the year winds down, it's tempting for business brokers to go through their old files and throw them out to make room for new client's folders, but that would be foolish. Joe Ranieri (Orange County Business broker) discusses strategies for saving files - a key annual strategy for brokers/agents.

Who Really Represents The Business Buyer? Does Dual Agency Work?

Who really represents the buyer? The selling broker or agent through dual agency? Many brokers and agents weigh in on this Discussion on BizBen. Bottomline is all business buyers need to know who really represents them and has their best interest at heart when seeking and negotiating on deals.

Buying A Business With Partners Or Family Members: Pros And Cons

Buying a business with a partner/partners, family members can make one think twice about ever doing it twice! However in this BizBen Discussion Post I chat with others about identifying roles, defining goals, attorney visits, and other relating issues.

Michael Brewer ABC License Consultant
Michael Brewer ABC License Consultant
Any Advice Or Best Practices When Selling A Business, Avoiding Lawsuits?

A seller just posed this question to me in a BizBen ProSell session. Any feedback for this business owner, potential seller? I would like to hear some feedback from my fellow BBNers on this topic. Make sure you're comfortable with the person with whom you are dealing.

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