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Document production in the acquisition of a business

The acquisition of a business can be an exciting time; especially for the business that is being purchased. For many people who have started small businesses have dreamed of this day, and the paychecks that come with it. But before the purchase can be consummated, it is prudent to ensure that the transaction proceeds as expected, there is an expectation of due diligence. With that said, a potential acquirer of your business will want to few a number of documents surrounding your business.

This post will highlight a few of them. 

Documents evidencing good standing -  It may seem obvious, but it is important for potential buyers to know what they are buying is not only real, but it also free from corporate or legal defects. To that end, providing evidence of good standing, company minutes, and annual reports is part of the acquisition process.

Current financials – Also, a potential buyer will want to know about your company’s financial health. With that, you should expect to provide current financial information, including audited financial statements, inventory schedules and analyst reports.

Information regarding intellectual property – You should also expect to provide a schedule of existing patents and pending applications in domestic and foreign jurisdictions. Also, potential buyers will want to know about all current consulting agreements as well as any threatened or existing litigation with regard to intellectual property.

If you have additional questions about documents to be provided to a potential buyer, and how an attorney can help in producing them, Shulman Hodges & Bastian can be of assistance. 

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