Versant Knowledge Base

What information should I share with a Buyer?

If you are meeting with a Buyer to discuss the sale of your business be sure he has signed an NDA (non-disclosure agreement) to protect your interest. When you meet with the Buyer only give them the information necessary for them to make a decision on a purchase. Customer names and contact info, employee names and vendor contacts are not needed for a buyer to make a decision on a purchase. This information can be provided after an offer has been made and accepted and the loan has been approved. The best way to handle the release of information is to give all of your customers and employees a number that you can reference later in the sales process when it is appropriate to provide the confidential information to the Buyer. If you need assistance with this process contact our office for help.