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Questions Answered by Venus Caruso
2 Answers | Asked in Business Formation, Business Law, Contracts and Mergers & Acquisitions for Florida on
Q: Can I share transaction details w/a business broker/consultant without breaching a business contract? and with a lawyer?

I recently sold my business. The asset purchase agreement signed by both parties states neither party can disclose details of the transaction for 3 years after closing. I want to share details of the business I sold (such as closing price, terms, EBITDA, brand) with a business broker. The reason... View More

Venus Caruso
Venus Caruso
answered on May 31, 2023

If the confidentiality clause in your asset purchase agreement does not contain any exceptions for professionals who have a need-to-know the confidential information, or other like language, then sharing the confidential information with your business broker is not advisable as that would be deemed... View More

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