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A ROADMAP TO SUCCESS
- Article from:
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Agency Sales
- Article date:
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June 1, 2008
- Author:
- Newman, Gerald M
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Copyright informationCopyright Manufacturers' Agents National Association Jun 2008. Provided by ProQuest LLC. (Hide copyright information)
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LEGAL ASPECTS OF BUYING OR SELLING A REP FIRM
EDITORIAL
This second part of a two-part series is intended to provide a summary roadmap of the issues, steps, and mechanics involved in the purchase and sale of a sales representative agency. Last month, in the first segment, we discussed the letter of intent, confidentiality, due diligence, structuring a transaction and valuing the business. This second segment deals with the preparation of written agreements, covenants not to compete, consulting arrangements, third-party consents, the closing, and some final tips.
Preparing Written Agreements
Once the business deal has been made, someone has to put it in writing. The sophisticated buyer will ...