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John Di Giacomo and Eric Misterovich open the Revision Legal Podcast: May It Please The Internet series with a discussion about getting your business ready for sale. They dive into eCommerce, economies of scale and large roll-up funds.
a. Take a hard look at your business, what is sloppy?
b. Getting books in order
i. Knowing your landed costs of inventory without question
- Including any customs fees
ii. Document and organize loan documents, get a personal contact with the
lender if possible
iii. Clean up internal house – operating agreement, who owns your
business, who needs to approve the sale, etc
c. Independent contractor agreements
d. Supplier contracts
e. Registering and chronicling IP
i. Make sure right entity owns it