Are You Ready to Sell Your Online Business?
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Questions and Answers

Which of the following is the first step in selling an online business?

  • Listing the startup on Acquire (correct)
  • Evaluating offers
  • Signing a non-disclosure agreement
  • Reaching out to potential buyers

    • What are potential buyers called in the text?

  • Term sheets
  • Non-disclosure agreements
  • Letters of intent
  • Preliminary conversations (correct)

    • What are letters of intent (LOIs) also called in the text?

  • Term sheets (correct)
  • Non-disclosure agreements
  • Preliminary conversations
  • Additional financial information

    • What is negotiable in a letter of intent (LOI)?

    <p>Every term</p> Signup and view all the answers

    What is a red flag when receiving LOIs?

    <p>The potential buyer claims that every term is negotiable</p> Signup and view all the answers

    Which of the following is the first step in selling an online business?

    <p>Deciding to sell your business</p> Signup and view all the answers

    What is the purpose of a non-disclosure agreement (NDA) in the selling process?

    <p>To share additional financial or technical information</p> Signup and view all the answers

    What are letters of intent (LOIs) also called in the text?

    <p>Term sheets</p> Signup and view all the answers

    What does it mean if a potential buyer claims that every term in an LOI is non-negotiable?

    <p>They are trying to attract higher offers</p> Signup and view all the answers

    What should you do when you receive letters of intent (LOIs)?

    <p>Evaluate the terms and understand their details</p> Signup and view all the answers

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