Ready to sell your Internet business? Internet Lawyer Mike Young helps entrepreneurs sell their e-commerce companies for a fair price while reducing the legal risks (including nonpayment).
Here are some of the common ways that Mike can help you sell your online venture.
Determine your desired outcome
Although you may have a sales price in mind, there’s a lot more that goes into selling an e-commerce company than simply transferring assets or equity in exchange for payment.
- Do you want to be paid a lump sum or are you willing to accept installments?
- Will you provide full or partial seller financing for the sale?
- Do you intend to stay on as a consultant or employee post-sale? If so, under what terms?
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Mike will use his experience as an Internet business attorney to help you structure a deal that’s right for the goals you want to achieve.
Pre-sale website legal compliance review
A company website that violates the law can prevent a sale or seriously devalue an online business. Mike can perform a Professional Website Legal Review to address legal compliance issues before you try to sell your ecommerce company so that you can maximize the profit you make.
Revise prospective buyer’s letter of intent (LOI)
Accepting a potential buyer’s letter of intent (LOI) at face value is rarely a good idea for any seller. Mike will review and recommend revisions to the offer contained in the LOI in order to protect you from frivolous prospects or efforts by competitors to sabotage your Internet company using the due diligence process to improperly learn confidential information to misuse to compete against you.
Handle due diligence inquiries from prospective buyers
Working with your accountant and your Internet business broker (if you have one), Mike will help field questions from your company’s potential purchaser during the due diligence process. This enables you to focus on your business operations while providing the prospect with the information needed to bring the deal to the virtual closing table.
Protect you with the right legal documents
Ideally, you’ll want Mike to draft the ecommerce legal agreements that will be used to make the deal happen because he has the experience and understands ecommerce. By having Mike prepare the docs, you’ll get more legal protections than would be provided in documents drafted by the buyer’s attorney.
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If the buyer’s legal counsel prepares the documents for closing the deal, you’re likely to face two significant problems.
- Most attorneys lack the experience to properly draft the legal documents needed to complete the sale of an Internet business. Mike can identify the gaping holes in these documents and fill them with language to protect you.
- Documents written by the buyer’s legal counsel are likely to heavily favor the purchaser to your disadvantage as the seller. Mike can review these docs and provide revisions to make the documents fair to you rather than being one-sided in favor of the buyer.
Help you get paid when you sell your Internet business
It’s not enough to sell an Internet venture on paper. You’re going to want to get paid.
Mike knows how to structure Internet company sales in such a way as to minimize your risk of nonpayment, both at closing and for any future payments due if financing terms are provided.
What’s the next step in getting Mike to help you sell an online venture?
When you’re ready to sell your Internet business, the first step is to set up a telephone consultation with Mike to get the ball rolling.