DecaMillionaire Decoded The Sale Documents and the Terms Found in a Purchase Agreement
In episode 31 of Financially Simple, Justin gives an overview of the various documents and agreements that Business buyers and sellers must check at the time of sale.
During the sales process of a Business, both the buyer and the seller will need to make carefully considered compromises and agreements on the terms of the sale. Justin goes over the types of agreements that may crop up, as well as why it is important to check the details of such agreements so that neither party is caught out.
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TRANSCRIPT: The Many MANY Ways a Purchase Agreement Protects Both Seller & Buyer – Post #31
TIME INDEX:
00:31 - The Documents and the Terms
01:53 - Tying Up Loose Ends
03:04 - Questions to Ask Yourself
04:32 - What Is a Release?
05:08 - Indemnification Clauses
05:23 - Insurance
06:32 - The Non-Compete Agreement
08:50 - The Non-Solicit Agreement
09:45 - The Indemnification Agreement
10:14 - The Confidentiality Agreement
11:32 - The Intellectual Property Agreement
12:38 - How to Keep it All Straight
For more in-depth reading about this podcast series, pick up a copy of Justin's new book: The Ultimate Sale
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BIO:
Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute’s Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast’s guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast’s hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
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