Smart Lawyers Position to Transition The No-Go Zone: What Stays Off the Table and Why
In this final installment of our four-part series, Prospective Buyer Meets Prospective Seller, we dive into the critical boundaries that must be set before a Letter of Intent (LOI) is signed. If you're in the process of selling your law firm, knowing what to disclose and what to withhold can make the difference between a smooth transition and a deal that falls apart. Confidentiality isn’t just a legal formality—it’s the foundation for protecting the value of your practice. Victoria Collier breaks down the no-go zones in law firm sales, explaining the risks of premature disclosure and how to navigate these delicate conversations strategically.
What You'll Learn in This Episode
• The difference between due diligence before and after an LOI is signed. • Why NDAs alone aren’t enough to protect your firm’s sensitive information. • The types of confidential details that should never be disclosed too soon. • How potential buyers can misuse your data, even with an NDA in place. • And much more!
Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales and valuations. With a background in law and accounting, including her prior military service and CPA training, she brings a unique perspective on the financial intricacies of business valuations. Victoria helps transform law firms into more valuable and sellable businesses, guiding attorneys through life after law.
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