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Live Webinar

90-minute live streaming program
  • October 19
  • 1:00 - 2:30 pm EST

Selling Your Business: Negotiating Terms and Offers

October 19

Gain a better understanding of how to negotiate agreements and better position your business for a sale.

This topic is intended to help those who either own a business or advise business owners in the lower-middle market -- those with gross revenue between $5MM and $50MM.

Businesses in the lower-middle-market are prime targets for competitors, private equity firms and other types of investors. These prospective buyers are actively searching for businesses with good cash flow and/or those which present growth opportunities so they may improve their company or investment portfolio ROI. Many business owners find themselves unprepared as unsolicited offers of acquisition interrupt their otherwise normal business day.

The objective of the information is to help you learn how to get to a bona-fide offer and subsequently to negotiate terms and conditions that won't keep everyone up at night. The topics will be broken down into three parts - Getting to a Good Offer, Negotiating Terms and Conditions and Participant Q and A. Emphasis will be on the practical side of getting deals done and ways to overcome roadblocks along the way.

Learning Objectives

- You will be able to identify how to handle the unsolicited offers you or your clients are receiving.

- You will be able to discuss ground rules which should not be broken when a business is on the market.

- You will be able to explain why the offer shouldn't arrive in a six page document.

- You will be able to describe how to negotiate specific terms and conditions unique to a business sale purchase agreement.

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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Part 1 -- Getting to a Good Offer
Unsolicited Offers and What to Do About Them
  • Establishing the Ground Rules When Approached by Unsolicited Buyers
  • Non-Disclosure Agreements and Why They May Not Protect the Business Owner
  • What Should Be Shared and More Importantly What Should Never Be Shared Until an Offer Is Agreed Upon
  • When Is an Attorney Needed in the Process?
  • The Importance of Preparation Especially When Your Business Is Not for Sale
  • Never Do These Four Things When an Unsolicited Offer to Buy Is Received
Ground Rules Which Should Not Be Broken When a Business Is on the Market
  • The Single Buyer Dilemma
  • Sharing the Truth
  • The Country Club Selling Price
  • It's Not About Getting to a Win
  • Staying the Course
The Offer Should Not Arrive in a Six Page Document
  • The Offer Framework Is the First Step in Getting a Good Deal Done
  • The Counter Offer Strategies and Timing
  • The Letter of Intent Is Vital and Its Importance Is Often Overlooked
  • How the LOI Sets the Tone of the Deal and Can Eliminate Many Surprises
  • How Company Culture Should Be Weaved Into the LOI
  • Terms and Conditions in the LOI You Don't Want to Skip
Part 2 -- Negotiating Terms and Conditions in Your Purchase Agreement
  • Selling Price Means Very Little in Many Deals
  • Most Deals Fall Apart for a Reason Neither Side Sees Coming Beware
  • How to Find Common Ground With the Other Side
  • Understand the Buyer's Motivations and Use It When It's Most Useful
  • Specific Terms and Conditions Which May Prove Problematic
    • NonCompetes
    • Working Capital Targets (or Lack Thereof)
    • Earnouts
    • Key Employee PostClosing Agreements
  • The Importance of Reps and Warranties Especially for the Seller!
  • Why Due Diligence Requires Stamina
  • Who Should Negotiate an Earn out Agreement and Why
  • Which Professional Advisors Do You Call Upon When Selling Your Business?
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More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, Inc. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CO CLE 2.0
     
  • This program may qualify for 2.0 credit hours through the Colorado Supreme Court Board of Continuing Legal and Judicial Education through reciprocity. This course is accredited in other jurisdictions such as New Jersey. To receive CLE credit for this program, a home study affidavit must be submitted to the Supreme Court Board of Continuing Legal and Judicial Education.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • GA CLE 1.5
     
  • This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.5 CLE hours.
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • MS CLE 1.5 (Pending)
     
  • This program has been submitted to the Mississippi Commission on Continuing Legal Education. Approval pending.
     
  • MT CLE 1.5
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 1.5 CLE credits.
     
  • NH MCLE 1.5
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 90 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • TN CLE 1.5
     
  • This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.5 hours of credit.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of CLE credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of Law & Legal Procedure credit.
     
  • WI CLE 1.5
     
  • This program has been approved by the Board of Bar Examiners for 1.5 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
  • CPE 1.8 including Business Law 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Business Law for 1.8 hours. Prerequisite: basic knowledge of business financials. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Advisory Services for 1.5 hours.
     
  • Lorman Business Center, Inc. has registered with the Texas State Board of Public Accountancy as a CPE Sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program. This program qualifies for 1.8 hours of continuing professional education.
     

Who should attend?

This live webinar is designed for business owners, CEOs, COOs, presidents and vice presidents, attorneys, directors, managers, accountants and marketing professionals.

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More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Holly Magister, CPA and Certified Financial Planner®

Holly Magister, CPA and Certified Financial Planner®

Enterprise Transitions

  • Certified Public Accountant and Certified Financial Planner who specializes growing and selling valuable businesses in the lower-middle-market
  • Founder of Enterprise Transitions, a boutique growth and exit planning business
  • Founder of ExitPromise.com an online resource for business owners who want to start, grow and sell a valuable business
  • Has answered more than 2,000 questions on ExitPromise asked by business owners and has written more than 300 articles on the site as well
  • Also contributed articles to FORBES, Intuit and many other business-related websites over the past few years
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 400948
Published 2017
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