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 NLBA 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 NLBA has developed procedures and documentation to facilitate information disclosure to buyers that are generally regarded as industry “best practices” by the legal and accounting communities and peer business brokerage and mergers and acquisitions firms.
Business buyers have an added incentive to protect confidential information provided by NLBA because they have a knowledge that the violation of our trust will result in expulsion from our buyer database 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 at a given time and the importance of swift action in evaluation and acquisition.