In the next issue of „Selling Your Small Business,“ we`ll go through the financing and tax impact of a sale. Editor`s Note: This article is the nineteenth piece in a series of BizBuySell.com Es Guide to Selling Your Small Business. The guide is a comprehensive manual to help small entrepreneurs maximize their success when the day is put up for sale. Every Wednesday, Inc.com will publish a new section of the guide outlining BizBuySell.com best practices, from the first phase of planning a sale to negotiation and transition after the sale. When you buy shares in a company, you acquire part of all aspects of the business. When you buy all the shares of the company, you own all facets of the business. If you are considering selling or buying a business, you should remember such a large transaction in a business purchase agreement to confirm that all details are carefully verified and documented. One of the most difficult discussions in negotiating a sales and sale contract concerns the seller`s compensation and possible restrictions on the buyer`s liability. Compensation protects the buyer from damage caused by violations of the seller`s insurance, warranties and alliances. At the same time, the seller wishes to limit his liability for damages to the buyer. The final clause of a directors` decision to adopt an agreement is the watchword. This gives the authorized signature authority the right to execute any other incidental documents that may be necessary to carry out the transaction under the agreement.

List of all assets included in the sale, including equipment, equipment, machinery, inventory, receivables, company name, customer lists, value and other items; also includes assets intended to be excluded from the sale, such as cash and cash accounts, real estate, automobiles, etc. The buyer generally has a conditional period of five to twenty days after the execution of the GSP to carry out due diligence and secure financing. A survival period limits the period during which a buyer can initiate litigation for breaches of insurance, warranties or alliances.