Full disclosure is a concept that is applied to many areas of life, including real estate, vehicle sales, and business deals. Providing full disclosure is seen as a trustworthy act, even if it is required by law in many places. Here at Tampa Business Brokers Inc, we encourage all parties to the deal to engage in the best practice of full disclosure. This prevents future problems, including cancellation of the sale or even a lawsuit for breach of contract.
Full disclosure on all issues, problems, needed repairs, etc. should be made during the discovery stage of the business sale. Full disclosures in business transactions often include the following four sections: (more…)