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One of the most important, if not the most important, considerations when selling a business is the significance of confidentiality. It’s understandable that as a business owner, you wouldn’t want the “Entire World” to know your business is for sale. After all, you’ve worked hard to create a positive working environment for your employees, you’ve continually brought in new customers and you already have many established relationships in the field. Therefore, you would never want to do anything to jeopardize the companies progress.
As business brokers, we understand that marketing a business, while still maintaining confidentiality, is a very fine line. Therefore, all prospective buyers must fill out an inquiry form first. Then, we will qualify the buyer extensively before finally moving on to the signing of a confidentiality agreement. Protecting your privacy is every bit as important to us, as it is to you.
Fundamentals of Non-Disclosure Agreements
Identification of the parties
Definition of what is deemed to be confidential
The scope of the confidentiality obligation by the receiving party
The exclusions from confidential treatment
The obligation to return or destroy confidential information when requested by the disclosing party
The term of the agreement
Contact the BIB Group for more information on NDA agreement procedures.