May 22, 2009
When buying a business, the prospective buyer almost always expects to sign a non-disclosure agreement (NDA). The reasons are fairly obvious — to protect the seller’s information from being shared with competitors, suppliers and customers and ultimately destroying the value of the business. But, did you know a prospective seller should also request a NDA from their broker? It is important for you as a seller to request a NDA from the broker to protect you for the same reasons. What is to stop the broker form sharing your information without your knowledge or permission? When working with a broker, one of the first things the broker does is request detailed documented information about your business, e.g., tax returns, lease agreements and asset lists. Before providing this information, request a NDA from the broker to protect your business.
If you have any questions about information security, please do not hesitate to contact me at 800-599-0503 or eric@bluechipbizsolutions.com.
No comments:
Post a Comment