In recent blog posts, lawyer Matthew Kelleher of McCarthy Tétrault LLP offers business owners tips on what to do before selling their company.

Here’s a selection of items that sometimes get overlooked:

Talk To A Financial Advisor

Business owners need to make sure their estate and tax planning is taken care of before signing away their business. It could mean a larger sale price in the end.

Organize Paperwork

Avoid frustration and complications by making sure all of the business, legal and financial paperwork is in order and up to date, including corporate minutes books and government filings.

Think Outside The Box

Instead of selling the business in one large chunk, consider selling it as two or more businesses. Or consider a strategic purchase of a competitor to increase the value of the business.

Resolve Any Issues

Before seeking out a potential buyer, resolve any outstanding tax, legal or shareholder issues, as well as any employee grievances.

Don’t Blab

Talking to more than a few trusted advisors can lead to customer and employee anxiety.

Instead, carefully plan and craft all messages and announcements related to the sale.