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Podcast: In The Trenches
Episode: Strategic Considerations When Evaluating a Letter of Intent to Sell Your Business
Description: For many business owners, few things are as exciting as receiving a Letter of Intent (“LOI”) from a prospective purchaser. Beyond the sense of validation stemming from the fact that a sophisticated counterparty sees an asset worth paying for, many business owners likely view an LOI as a just reward for decades of hard work, sacrifice, and illiquidity.
Understandable as these reactions may be, I would argue that they are premature at best, and misleading (or even incorrect) at worst.
This audio blog attempts to speak to prospective sellers of small or medium-sized businesses about what L...