So, you are thinking of buying a business? What types of documentation or information should you be seeking from the seller before you agree on a price, sign documents, or pay any money? This list will get you started:
- Seller entity information
- Documents necessary to discover the seller’s full financial Information
- Physical Assets of the seller
- Real Estate (owned and leased)
- Intellectual Property owned by the seller or to which the seller has rights
- Employee contracts and employee benefits owed
- Licenses and permits held by the seller
- Environmental due diligence
- Taxes (including verification) owed
- Material contracts with the seller’s customers and suppliers
- Customer information
- Currently pending or threatened litigation
- Insurance coverage
