The Importance of Confidentiality
You should understand the importance of confidentiality.
The importance of confidentiality at all times before, during and after the sales process is the most important ingredient in the successful sale of an existing business. This IS NOT a real estate transaction where real estate is posted on public MLS services for everyone to find. This is a business with employees, customers, competition and possibly landlords and creditors. By making a business for sale public, all of the above mentioned entities associated with the business for sale will be thrown into a “cause and effect ” flow that will permanently harm the business being sold.
The importance of a business buyer keeping all information confidential is paramount and if the buyer signs confidentiality agreements then it is required. Failure to adhere to the terms of confidentiality agreements will almost surely land you in court and likely a hefty monetary penalty.