Business Monday

August 24, 2014

My view: Planning to sell your business? Make sure your assets are protected

Congratulations! You’ve sold your business and the ink has finally dried on your check. Now what? You may have a very specific plan for that money or you may not, but either way it is crucial to protect it. Why? We have often seen the purchaser run the business into the ground and try to recover some or all of the purchase price by claiming misrepresentations were made. If those proceeds are properly protected, there will be no “post-sale price reduction.”

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