Those unfamiliar with the process of buying a business are sometimes surprised that business owners and business brokers/intermediaries require that they sign a confidentiality agreement before being provided with information on the business. This is a normal and customary requirement and indeed, makes sense. If you were a business owner, would you be willing to provide your confidential profit and loss statements, balance sheet, information on customers, new ventures and other highly confidential information, to a total stranger? Most people would unequivocally say “no!”. Business owners want to make sure that their confidential information is only released to serious buyers who are pre-qualified as capable of buying the business and will agree to keep the information private and not use it for competitive purposes. This is why Creative normally requires that potential buyers sign a confidentiality agreement and we inquire about your financial capability to purchase the business before releasing our client’s private information.
Creative recognizes that we are entrusted with our client’s most personal business information and we work professionally and confidentially to represent them in the sale of their business.
article by Anne Ertel-Sawasky
