Confidentiality Agreement For Purchasing A Business

These measures protect the seller from buyers “who waste time” and the buyer from buying lemons. One of the most important questions when buying a business is, “Can I see your annual accounts?” Numbers provide important information that will help you decide if you need to buy a business. Even if a seller has put the company on the market, he or she is reluctant to pass on strictly confidential and sensitive records to potential buyers. If the seller believes you are a credible potential buyer, they will have you sign a confidentiality agreement before the company`s proprietary information is opened to you. A non-trust provision is another protection for the seller that requires the buyer to acknowledge that he is buying the business entirely on the basis of the insurance and guarantees of the seller`s contract of sale. If the recipient already knows the information, the provision limiting the disclosure or use of confidential data in an NDA is not valid. 6. . . .

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