Getting Your Client Ready to Sell

Selling a business is not for the faint at heart. Most sophisticated buyers will leave no stone unturned in examining a potential purchase target. This is particularly true for publicly traded companies, which have expanded due diligence duties imposed on them by the Sarbanes-Oxley Act of 2002. To make matters worse, most companies are not operated with a view toward being acquired. This combination can often make for an arduous, and sometimes contentious, review process. Troublesome issues ranging from the identity of the business owner to the conduct of day-to-day operations can, if not properly addressed, cause a transaction to fail. The wise attorney will anticipate these issues and will advise his or her client on what to expect throughout the process.

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