At some point, you may decide either to sell a stake in your business to raise capital, or even sell the business as a whole. Any purchaser will no doubt have a lot of questions, and their lawyers will too. Will you be prepared to answer them?
Do you have the requisite corroborating documentation to support each of your responses? Can you confidently agree to warranties and representations, which may include, but are not limited to non-infringement of third party intellectual property rights (very difficult for YouTube channels, for example), that you have complied with all regulatory requirements including data protection or that your company has a contract for every employee and every transaction?
This is just the tip of the iceberg of the numerous hurdles your company will need to overcome in order to successfully transcend the due diligence process. Does this seem overwhelming? We know that it can. The Motion Paradox team can help you by thoroughly reviewing your company records, identifying gaps, and understanding which warranties and representations can be made, with a view to being transparent without jeopardising the transaction. Due diligence doesn’t have to be terrifying, it just has to be approached step by step with a trusted partner to help guide the way.