Goodwin Procter Attorney’s VentureBeat Article Offers Founders Tips on Selling Their Companies

Goodwin Procter attorney Alessandra Simons recently wrote an article offering five tips to entrepreneurs who are preparing to sell their company. Published on technology news site VentureBeat, the article offers useful advice to prepare company founders for the intricacies of a sale or acquisition, including:

  1. Prepare yourself. Selling the company into which you have invested so much requires familiarity with the entire deal process and an ability to make difficult decisions.
  2. Build an “under-the-tent” team and reward them accordingly. Hand-select the team necessary to navigate the deal process, and make sure their contribution and work is accounted for.
  3. Get your house in order. Work with your lawyer to straighten out crucial details relating to shares, employee classification/exemptions, option grants, compliance, relevant policies and more.
  4. Make nice with your VCs. Their insight and experience make them invaluable assets, so ensure alignment and good relations heading into the sale process.
  5. Trust your lawyers …or get new ones. Counsel should be present and attentive – or replaced.

To get full details of these useful tips, read the full article here.

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