| This is not something I'm going to be able to even begin to answer in a comment on a website, that's a couple of hours just to document the whole process and make it understandable if you have no experience. First step: get a corporate legal eagle on your side, one that has done this multiple times and has a good track record. Find someone near you that has sold a business and ask for a referral, that should help you. You will be doing technical, legal and financial due diligence (financial only if they buy your company, not if they only buy the product). You will need to investigate the difference between an asset sale and selling your equity, in a deal like this that can make a huge difference tax wise! You need to find an entrepreneur close to you that has gone through this to be your 'second opinion' on anything you do. Try to move from 'telephone conferences' to more email based communications and keep the emails. Do not negotiate for yourself, place another party in between during the negotiations (for instance your lawyer). Set yourself a target price and be prepared to walk away if it looks like you're not going to make your target. Set that price now, not when you're negotiating. |