Sell a Business for the Best Price
Selling a Patent Drafting Services Business
Is the economy still a little shaky for a business sale? Sure it is. Yet patent drafting services businesses haven't been deterred. In fact, we think this economy is a ripe environment for a patent drafting services business sale.
An assortment of hurdles and obstacles stand between you and the successful sale of your patent drafting services business.
To sell a patent drafting services business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Pre-Sale Checklist
The upfront time you investment in the sale of your patent drafting services business will pay big dividends at closing. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. It's likely that non-serious buyers will want to know everything about your patent drafting services business during their initial inquires. Avoid releasing details about your patent drafting services business until you have established that they have the financial capacity to make a legitimate offer.
Tips for Working with A Business Broker
Many sellers employ business brokers to manage the details and direction of their sale. Brokers routinely work with patent drafting services business owners to achieve desired outcomes and deliver a successful sale as quickly as possible. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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