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ARTICLE · 14 OCTOBER 2024

Planning A Successful Business Sale

Miller Thomson
Miller Thomson
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Miller Thomson

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Selling a business is a complex process requiring extensive legal planning. To unlock the highest value at the lowest risk and make sure the sale goes off without a hitch, business owners have to prepare appropriately.

CanadaCorporate/Commercial Law
Seon K. Kang
Seon K. Kang
Shane Goldman
Shane Goldman
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Selling a business is a complex process requiring extensive legal planning. To unlock the highest value at the lowest risk and make sure the sale goes off without a hitch, business owners have to prepare appropriately. The following are some vital legal tips to guide owners who are preparing to sell their business.

1. Legal Due Diligence: Preparing Ahead of Time

One of the most critical aspects of preparing for a sale is performing legal due diligence on your own company. This involves reviewing, preparing and organizing all legal documents and any legal information a potential buyer may request. Key documents to be compiled and reviewed include:

  • Company Documents: Ensure that all your company's governance documents, including articles, by-laws, minutes of meetings and the unanimous shareholder agreement, are up to date.

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