As a Microsoft Partner and business owner, selling your business can be a daunting and complicated process.
What is due diligence?
One of the most important steps in selling your business is due diligence, which involves a thorough review of your business’s financial, legal, and operational records.
Due diligence is crucial for both the buyer and seller to ensure that the sale is fair, accurate, and legally sound. This is where Law 365 can help! We're Microsoft Partner specialists and we have the experience to get you the best valuation.
Not convinced you need a lawyer?
Here are some ways that lawyers can help with due diligence and selling your business:
1. Getting you the best valuation
Your buyer will want to assess the value of your business, reviewing financial and legal records. Your lawyers can help you get your house in order before that happens, ensuring that there are no skeletons lurking, so there's no reason to shave money off the valuation.
2. Identifying legal risks
A lawyer can help you identify any legal risks associated with your business, such as potential liabilities, compliance issues, or pending lawsuits. They can also help you mitigate these risks by recommending solutions or negotiating terms with the buyer.
3. Drafting and negotiating contracts
A lawyer can help you draft and negotiate contracts related to the sale of your business, such as purchase agreements, Non-Disclosure Agreements, and employment agreements. They can also review and negotiate the terms of any financing or earn-out agreements.
4. Facilitating the closing
A lawyer can assist with the closing of the sale, including the transfer of assets, payment of taxes, and filing of legal documents. They can also help you resolve any last-minute issues that may arise.
5. Legal AI is here to take the pain away
Due diligence can be a slow and painful process for some businesses. Fortunately Law 365 has an internal AI team building a tool that will speed up the legal process and reduce the cost enormously. We launched LawyerBot 365 last year, which reads and reviews NDAs in minutes. Watch this space for additional functionality, coming soon.
At Law 365 we ideally come on board 3-5 years before you want to exit and play an essential role in helping you with due diligence and selling your business. We'll identify legal risks, review and organize legal documents, draft and negotiate contracts, and facilitate the closing of the sale. We'll ensure that your business sale is fair, accurate, legally sound...and profitable!
We recently hosted a webinar interviewing two Microsoft Partners - Chris Hodgson and Paul Shannon, co-CEOs of OBT Advisory (and 10-year veterans of the Microsoft Partner giant, ANS) about their exit experience. Watch our webinar.