I am currently in negotiations to sell my publishing business. I was just looking over the first draft of the purchase agreement and I notice they want all software included. We have spent about a million creating our own email software program which the buyer said they will not be using. How do I now separate my email program from the sale of the business. My accountant tells me I am too late.
Was this covered in the letter of intent? If this is the first draft, it should be able to be negotiated, but realize that the valuation should change, based on a reduction of assets included in the sale. Be prepared to extend the negotiation period by possibly quite a bit of time, or a rejection. This is why it is so important to review all aspects in detail early in the discussions. Good luck. Do you have a good business lawyer on your team? The accountant is good for financial review, but a lawyer is needed to protect your interests.
Answered 5 years ago
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