Will the sale of my business remain confidential?
(Written by David Ferraz, Principal at Argus Business Brokers)
You are no doubt wondering, how do I ensure that the sale of my business is kept confidential? Keeping your business sale confidential is important and is one of or key objectives. There are a variety of ways that this is achieved. Firstly, the identity of your business is carefully disguised in any advertising that is made public. The exact location of your business is not shown. Also, photos of your actual business are not included in the ads. Instead, generic stock photographs are used to conceal the identity of your business. Further, all advertising is approved by you before going live.
Secondly, every buyer who enquires is required to sign a confidentiality agreement. This occurs before they are provided with any further details on the business.
Thirdly, we call each buyer to screen them and qualify them. We do this even though they have signed the confidentiality agreement. Further information on the business is only passed onto buyers once they have signed the confidentiality agreement and been qualified by us.
Fourthly, in the information pack on your business, the confidentiality requirements are stated again. This is to remind the buyers of their confidentiality obligations.
For larger businesses, rather than placing any ads, we may discretely approach carefully identified potential buyers only. This helps keep information highly confidential and only available to select, known prospective buyers.
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