Deciding what's for sale
When you sell a business, you usually need to make decisions about precisely what you're selling. Ask yourself:
- Do you want to sell the business outright, all the assets or some of the assets?
- Which assets (if any) don't you want to sell?
- Are you looking to sell the intellectual property (IP) associated with the business?
- If you own both the business and the property (freehold), will you include the property in the sale?
Using intangible assets to add value
Establishing what exactly is for sale will help you accurately value your business. Often, the sale price of a business is actually more than the total value of the tangible assets being sold. Intangible assets such as goodwill and IP can add significantly to the value of your business and shouldn't be ignored when deciding on a sale price.
You should take steps to protect your IP so you can get the best possible payment for it when you sell your business.