28 Apr Selling a Business to a Competitor
Business competitors are frequently overlooked when it comes time to plan selling your business. Why? Usually there is a concern that a competitor will take advantage of the knowledge that a business is up for sale and may try to attract customers or employees away from the selling business. Yet, if the business for sale meets the needs of a competing company, they may be willing to strike a good deal in order to acquire the business and expand.
When it comes to selling a business to a competitor, a business intermediary can be quite useful. The intermediary will use confidentiality agreements so that the name of the business being sold is only revealed after the seller has been consulted and the competitor/potential buyer has been further qualified.
