When someone examines your business.
WHEN IT HAPPENS
Investment Sale of the business Major customer onboarding Bank facilities Partnership arrangements
WHAT IS TYPICALLY EXAMINED
Corporate documents and registers Tax compliance Employment records and statutory remittances Licences and permits Contracts Intellectual property ownership Litigation and disputes Property and leases Insurance
WHY INTELLECTUAL PROPERTY OWNERSHIP MATTERS
Work produced by contractors without written assignment may not belong to the company.
WHAT THAT AFFECTS
Software, designs, and content.
WHAT TO FIX IN ADVANCE
Missing assignments Outstanding filings Unpaid statutory remittances Undocumented arrangements
WHAT UNDOCUMENTED ARRANGEMENTS MEANS
Agreements that exist only verbally.
WHY THEY ARE A PROBLEM
They cannot be verified, and they create uncertainty.
WHAT TO ASSEMBLE
A folder containing everything listed above.
WHY IN ADVANCE
Assembling it under pressure delays transactions and reveals disorganisation.
WHAT DELAYS DEALS MOST
Missing documents, not adverse findings.
WHAT TO DO ANNUALLY
Check the folder is current.
WHAT TO DISCLOSE
Problems, early.
WHY
Discovered problems are worse than disclosed ones.
