Episode 3: Embarking on the journey of selling your business can be exciting and daunting at the same time. Whether you’re a seasoned entrepreneur or a first-time seller, understanding the intricacies of the process is vital to a successful outcome.
In the first part of the Exit Planning Toolkit miniseries, Marc Campbell and Chris Girbés sit down with David Young, partner at Cooley LLP, to talk about the art of selling your business.
Marc, Chris, and Dave delve into the importance of seeking guidance before signing a letter of intent (LOI) and the need for sellers to include crucial details in the LOI. They also explore the due diligence process, reasons why deals fall through, and the value of maintaining trust.
Additional talking points include:
- Why sellers of a business should seek guidance prior to signing the letter of intent (LOI)
- The key considerations in a business sale
- The benefits of having a team in place
- The importance of being organized and having a well-structured data room
- The problems that commonly arise during the due diligence process
- Insight into the seller’s perspective and the advantage of convincing the buyer to speed up the process
- The difference between an asset sale and a stock sale in terms of tax implications
- The value of structuring stocks in a deal to minimize the tax impact
- And more!
Connect with Marc Campbell:
Connect with Christopher Girbés:
Connect with David Young:
About Our Guest:
David Young concentrates on the representation of emerging growth companies and the venture capital firms, strategic investors, and investment banks that finance these companies.
In addition to providing strategic counseling, his practice encompasses venture capital financings, public offerings, mergers and acquisitions, equity compensation matters, SEC reporting and disclosure, intellectual property licensing, complex corporate partnering transactions, and corporate governance.
David represents both public companies and private venture-backed companies in the technology, life sciences, and media/entertainment sectors and also frequently represents venture capital firms and other investors in financings and underwriters in public offerings.
Over his career, David has practiced for a considerable period of time in San Diego, Los Angeles, Palo Alto, and Seattle and is able to leverage his familiarity and contacts in these various markets to the benefit of his clients.
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