Whether you’re preparing to sell your business, attempting to attract an investor, or want to qualify for a higher business loan, you want to do everything you can to add value to your business to put yourself in the best position possible.
Secure Your Workers with Employment and Contractor Agreements
One of the first things you should do is secure your workers with employment or contractor agreements so that you have a stable workforce. If your crucial workers are locked in with these agreements, you can approach investors and buyers with confidence. After all, key workers are invaluable assets to the company.
Legal Paperwork
If you haven’t already, get your operating agreement or bylaws in order. If you don’t have good bookkeeping, good recordkeeping, if you haven’t filed an LLC, etc. you’ll want to tackle those items before looking to sell. There are a lot of very successful businesses that don’t take these basic steps and consequently, these are some of the easiest ways to provide value quickly and easily
Trademark and Copyright
Trademark your brand and copyright your expressive works and informative works. These registrations become your property (even though they’re intangible) and go on your assist list as appreciable commodities that can help increase the value of your company.
Trade Secrets
Take the steps to protect your confidential information as trade secrets. There are certain things you don’t want to expose to the world because they provide a competitive advantage or some other value by nature of being secret (like customer lists for example). Put processes and tools in place – such as computer passwords and secure servers – to protect important information about your business so that buyers or investors can feel confident in their purchase or investment.
Learn More About Increasing the Value of Your Business
If you are looking to sell your business, make sure you’re being proactive and doing it right! Our team at Daniel Ross & Associates is here to help you with all of your legal business needs.
To schedule a free consultation, please call (216) 307-5590, or get in touch using our online intake form.
