The information that an entrepreneur is considering the sale of their privately held company or family owned business will always be held in strict confidence by IBA when evaluating a potential representation project. We consider it a privilege to be brought into your confidence and promise not to betray that trust regardless of whether you select us for representation or not.
It is our strong recommendation that an entrepreneur interested in selling their business for the maximum possible price put proper procedures in place to protect the information that the business is for sale from becoming known to employees, customers, competitors, and suppliers until a disclosure strategy is developed. If the information a business is for sale becomes public knowledge earlier than desired it can have a detrimental impact on the sale price for the business, employee retention, revenues, customer relations, and negotiating position.
In recognition of the importance of maintaining confidentiality during the sale process IBA has developed procedures and documentation to facilitate information disclosure to buyers that are generally regarded as industry “best practices” by attorneys, accountants, business brokers, and mergers & acquisitions intermediaries.
Business buyers have an added incentive to protect confidential information provided by IBA because they have the knowledge that violation of our trust will result in expulsion from our buyer database program and limitation of access to information about new companies represented by our firm for sale. Expulsion from this program can be very detrimental to a business buyer due to the limited number of quality companies for sale in the Pacific Northwest at a given time and the importance of swift action in evaluation & acquisition.
Please contact our office if you have any questions regarding the important issue of confidentiality or if you would like to schedule a time to meet with an IBA professional.