{"id":5495,"date":"2016-04-04T10:48:00","date_gmt":"2016-04-04T15:48:00","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/smallbusiness\/starting-a-business\/questionnaire-confidential-business-purchase-information.html"},"modified":"2024-05-22T00:21:12","modified_gmt":"2024-05-22T05:21:12","slug":"questionnaire-confidential-business-purchase-information","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/smallbusiness\/starting-a-business\/questionnaire-confidential-business-purchase-information.html","title":{"rendered":"Questionnaire: Confidential Business Purchase Information"},"content":{"rendered":"\n
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Questionnaire: Confidential Business Purchase Information<\/h1>\n
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Created by FindLaw’s team<\/a> of legal writers and editors<\/i><\/p>\n\n | Last updated\n

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It is advisable that you seek the counsel and representation of an experienced business attorney to help you through the process of purchasing an existing business or franchise. In order to do the best possible job on your behalf, your attorney needs information about you and the business opportunity. At your first meeting with your attorney, you should be prepared to provide, as applicable, the following information:<\/p>

INFORMATION ABOUT YOU<\/strong><\/p>

Name\u00a0\u00a0____________________________<\/p>

Date of Birth\u00a0\u00a0____________________________<\/p>

Home Address<\/p>

\u00a0\u00a0____________________________<\/p>

\u00a0\u00a0____________________________<\/p>

Business Address<\/p>

\u00a0\u00a0____________________________<\/p>

\u00a0\u00a0____________________________<\/p>

Home Phone Number \u00a0\u00a0____________________________<\/p>

Work Phone Number \u00a0\u00a0____________________________<\/p>

Other Phone Number \u00a0\u00a0____________________________<\/p>

Facsimile Number \u00a0\u00a0____________________________<\/p>

E-mail Address \u00a0\u00a0____________________________<\/p>

Web Site Address \u00a0\u00a0____________________________<\/p>

INFORMATION ABOUT YOUR BUSINESS PARTNER(S)<\/strong><\/p>

(Your business partners, if any, should provide the same information you have provided above)<\/p>

In addition, if you have business partners, who is expected to initially own the business, in what percentages, and for what contributions?<\/p>

Percentage of<\/p>

Owner<\/u>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Ownership<\/u>\u00a0\u00a0\u00a0\u00a0Contribution<\/u><\/p>

\u00a0\u00a0________________________________________________<\/p>

\u00a0\u00a0________________________________________________<\/p>

\u00a0\u00a0________________________________________________<\/p>

\u00a0\u00a0________________________________________________<\/p>

Which of the owners are expected to be employed by the business? \u00a0\u00a0_________________<\/p>

In what capacities?<\/p>

\u00a0\u00a0____________________________<\/p>

\u00a0\u00a0____________________________<\/p>

For what compensation? \u00a0\u00a0___________________________________________________ <\/p>

Are there any written contracts between you and your business partners, if any? \u00a0\u00a0Yes_______ \u00a0\u00a0No______ \u00a0(If yes, provide your attorney with a copy)<\/p>

INFORMATION ABOUT MANAGEMENT STRENGTHS AND WEAKNESSES<\/strong><\/p>

What strengths do you and your business partners bring to the table that you expect will help make the business a success?<\/p>

What weaknesses or deficiencies in experience do you and\/or your business partners have?<\/p>

INFORMATION ABOUT THE PROPOSED BUSINESS PURCHASE<\/strong><\/p>

Have you investigated or made any determinations as to whether you should structure the business acquisition as an asset purchase, a stock purchase, or a corporate merger? \u00a0\u00a0Yes_______ \u00a0\u00a0No______ \u00a0(If yes, provide details)<\/p>

Have you taken any steps to incorporate<\/a> your business? \u00a0\u00a0Yes_______ \u00a0\u00a0No______ \u00a0(If yes, provide details)<\/p>

Have you retained a broker? \u00a0\u00a0Yes_______ \u00a0\u00a0No______ \u00a0(If yes, provide the broker’s name and the terms of the engagement)<\/p>

Have you been presented with any financial statements, documents describing the business opportunity, or a franchise offering circular? \u00a0\u00a0Yes_______ \u00a0\u00a0No______ \u00a0(If yes, provide your lawyer with a copy)<\/p>

Have you been presented with or entered into a letter of intent concerning the purchase of the business? \u00a0\u00a0Yes_______ \u00a0\u00a0No______ \u00a0(If yes, provide your lawyer with a copy)<\/p>

Do you have a written Business Plan? \u00a0\u00a0Yes_______ \u00a0\u00a0No______ \u00a0(If yes, provide your attorney with a copy of it)<\/p>

Have you offered to sell or sold any interests in your business to any investors? \u00a0\u00a0Yes_______ \u00a0\u00a0No______\u00a0(If yes, provide details)<\/p>

Have you obtained or sought to obtain any loans for your business? \u00a0\u00a0Yes_______ \u00a0\u00a0No______\u00a0(If yes, provide details)<\/p>

Does the prospective business own or lease any real estate? \u00a0\u00a0Yes_______ \u00a0\u00a0No______\u00a0(If yes, provide details)<\/p>

Do you intend to continue operating the business from its present location(s)? \u00a0\u00a0Yes_______ \u00a0\u00a0No______<\/p>

Have you retained any consultants, accountants or tax professionals? \u00a0\u00a0Yes_______ \u00a0\u00a0No______\u00a0(If yes, provide details)<\/p>

Have you promised an interest in the company to any consultants? \u00a0\u00a0Yes_______ \u00a0\u00a0No______\u00a0(If yes, provide details)<\/p>

OTHER QUESTIONS<\/strong><\/p>

(Make a list of other pertinent questions to ask your attorney)<\/p> <\/td> <\/tr> <\/tbody> <\/table> <\/body> <\/html>

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