On Demand Audio

The Nuts and Bolts of Preparing Your Client’s Business for Sale

(272 reviews)

Produced on December 12, 2017

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$ 89 Business, Corporate, & Securities In Stock
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Course Information

Time 60 minutes
Difficulty Intermediate

Course Description

When the time comes, will your client’s business be ready to sell? In this program, experienced business law attorney Philip Chapman will prepare you to do the right things now to put your client’s business in a more saleable state when they are ready to sell it. If you don't prepare in advance, a sale may end with less advantageous terms for your client, may involve a great deal of delay and extra expense, or may not even be possible in the first place. Items to consider when preparing for a sale include, but are not limited to, the form of financial statement, the company’s accountant, the role of the company’s general counsel, and protection of the company’s intellectual property.

Learning Objectives:

  1. Develop a helpful checklist of items a business must implement and/or consider well in advance of selling a business
  2. Review what questions to ask your clients and why, when preparing for a business sale
  3. Identify best practices any company should employ if it plans on selling the business, including acquiring a human resources professional to manage its employer-employee relationships, devising well written confidentiality and non-compete agreements, and more

Credit Information

After completing this course, Lawline will report your attendance information to {{ accredMasterState.state.name }}. Please ensure your license number is filled out in your profile to ensure timely reporting. For more information, see our {{ accredMasterState.state.name }} CLE Requirements page . After completing this course, {{ accredMasterState.state.name }} attorneys self-report their attendance and CLE compliance. For more information on how to report your CLE courses, see our {{ accredMasterState.state.name }} CLE Requirements FAQ .


Philip Chapman

Lum, Drasco & Positan, LLC

Philip L. Chapman concentrates in counseling family owned and other closely held businesses in all aspects of business, corporate and real estate law. This includes forming, buying and selling businesses, shareholders and limited liability company members agreements, non-competition agreements, buying, selling and leasing all forms of real estate and real estate auctions. For many years he has been listed in Best Lawyers in America as one of the best corporate lawyers in the State of New Jersey. Mr. Chapman has been named as a New Jersey Super Lawyer for 2005 through 2011. Considered among the best in their profession, Super Lawyers represents the top 5% of the practicing attorneys in New Jersey. The New Jersey Super Lawyers were selected by their peers in an extensive nomination and polling process conducted by Law & Politics and published in a special advertising section in the May 2005 issues of the New Jersey Monthly and New Jersey Super Lawyers magazine.

Mr. Chapman was one of the three-person committee that authorized the New Jersey Nonprofit Corporation Act, which became law in 1983. He has been a member of the Board of Trustees of the Corporate and Business Law Section of the New Jersey State Bar Association since 1979. Mr. Chapman lectures frequently for the New Jersey Institute of Continuing Legal Education (ICLE) and other educational forums on such subjects as such subjects as forming new business entities, buying and selling a business, buying a franchise, second stage financing of closely held Businesses, shareholder and limited company agreements, family businesses, post-employment non-competition agreements, commercial leasing and real estate auction law. He has also lectured to the commercial/industrial real estate brokers on aspects of commercial and industrial leasing. Mr. Chapman has authored articles for various publications, his most recent articles being Safeguarding the Buyer's Post-Closing Claims for Indemnification in the December 2002 issue of The New Jersey Lawyer, and Preparing Your Business for Financing in April 2003 issue of the national publication of Renaissance Executive Forums.


Leonard G.

Good solid presentation.

Anthony B.


Jordan G.

Best Lawline Presentation that I've seen/heard yet

Tim B.


Steven F.

Best suited for someone who does not regularly serve as outside general counsel to his or her clients

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