Sale of a Business - Key Players

Depending on the size and characteristics of a business, professional advisors may be required to assist as the deal progresses.

Business Broker
Coordinates the marketing of the company, finds the right qualified buyer, negotiates on the owner’s behalf, and assists in getting the deal closed. It should be noted that the business broker is the only party whose compensation is entirely contingent on his performance.

Business Valuator
The valuator may work independently or as an associate of the business broker.

Attorney
Buyer & Seller each need their own legal advisor to review the PSA.

CPA
Buyer & Seller each need their own tax advisor.

Closing Agent
The closing agent is usually an Attorney whose primary business is closing private company sales. Often the closing agent is tasked with drafting the PSA to the benefit of both buyer and seller. Using a proven format for the LOI that requires minimal reworking to become the PSA can save a substantial amount of time.