To protect the seller
Confidentiality is key when selling a business. A public sale could result in the business giving their competition the edge, negative reactions from employees, concerned customers, less flexible vendors/lenders, and more. Protecting confidentiality protects the business…and, if all the stars align, your future investment.
Additionally, the brochure for this business contains sensitive/proprietory information. The Confidentiality Agreement prohibits the recipient of the information from sharing it with anyone who has not signed a Confidentiality Agreement.
To pre-qualify prospective buyers
Our client has asked that we pre-qualify those expressing interest. As a result, the Confidentiality Agreement also asks for financial information. We understand that many people like to keep their financial situation personal. We can assure you that the information shared on the Confidentiality Agreement will remain confidential and will not be shared. This step is to ensure the business is a good fit for you.
What’s next?
We look forward to reviewing the Confidentiality Agreement and perhaps meeting in person sometime soon.