What Does It Means to "Buy a Business"?

Dec 20, 2021

In This Episode, You Will Learn:

• Agreements and documentation needed when you buy a business.
• What to consider when negotiating to buy a business.
• How intellectual property will be transferred to you as the new owner.

 

Resources + Links:

 

Non-Disclosure Bundle | Buy Now

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Work with Guide My Business

 

Connect with Lauren on Instagram | @thelaurenboyd

 

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Show Notes:

Do you have plans to buy a business in the future? Buying businesses can be such an incredible investment when done properly. In this episode, we’re sharing the things you will need to keep in mind and have documented when buying an existing business. Does it have a physical location? What happens to existing trademarks? What agreements do I need to have in place before I begin the discussion of buying a business? We’re answering all these questions and more! If you are eyeing a business, or have plans to buy a business in the future, reach out to our team! We’d be happy to support you, answer any questions, and make sure you are set up for success as you move towards investing in buying an existing business!

 

01:15 What are you actually “buying” when you buy a business?

02:30 What happens when you begin the discussion of buying a business?

03:15 The importance of having a non-disclosure agreement.

05:00 What if you are buying a business with a physical location?

07:00 Will I need a non-compete agreement in place?

08:15 How will Intellectual property be transferred to me when I buy a business?