Confidential systems used by business brokers in disclosing businesses for sale.
by Broker Service Network at www.brokerservicesnetwork.com
All business brokers should protect the confidentiality and integrity on all businesses for sale. All business brokers should protect confidentiality through the use on Non-Disclosure agreements that prevent the businesses for sale buyer from disclosing ANY information about the business to anyone. If said confidentiality is broken then the business brokers will go after the buyer in court for damages - usually set at 10% of the listing price or minimum $10,000.
None of our business brokers nationwide have reported a confidentiality breach on their businesses for sale. Our business brokers do it right!
Other confidentiality documents used by business brokers on their businesses for sale include an Agreement of Confidentiality that has the buyer acknowledge that he or she will not use the information for personal gain. It could also include a Disclosure Notice of Agency Relationship that has the buyer acknowledge that the business brokers work for you and not them. Another widely accepted document is a Memo Record of Showing where business brokers document all disclosures of businesses.
If you are talking to business brokers who do not use these then we recommend walking away from them - you are dealing with uneducated or unethical business brokers.
BSN has certified all business brokers in our network at www.brokerservicesnetwork.com
