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It’s easy to want to check out when you’re ready to sell your business, but making sure you have a team in place to help with a smooth transition is an essential part of the sale process.

In this episode I talk about important questions to ask and preparing your team for the sale of your business:

  • Important things to consider when thinking about who will run the business after you sell
  • Terms to have in writing if you plan to stay on after the sale to help with the transition
  • Why you might be required to sign a non-compete agreement
  • Making sure your trade secrets are protected by nondisclosure agreements
  • The right time to let your key employees know about the sale of your business
  • Making sure your employees and independent contractors are appropriately qualified before you sell
  • What you need to know about your independent contractor contracts before you sell

Key takeaway: Making a break from your business can be a stressful process, but with the right people and protections in place, you can confidently move on to the next adventure.

Visit www.awbfirm.com/podcast61 for a transcript and show notes, and sign up to get a free 5 Minute Intellectual Property Audit.  You’ll learn how you can make more money from the copyrights and trademarks in your business (you can also sign up there to be the first to know when new episodes are live and receive other legal updates and special offers from the AWB Firm).

Additional resources:

Contract templates: https://awbfirm.com/contract-templates/

Episode 12: https://www.awbfirm.com/podcast12

Episode 37: https://www.awbfirm.com/podcast37

This podcast is information, not legal advice specific to your situation.


Terms of Use, Terms of Service… whatever you call it, you might not think of it as a contract, but it is – and an important one at that! This week’s solo episode is all about this critical contract between you and your customers, students, or clients.

In this episode, you’ll learn:

  • Where your TOU must be linked on your website
  • The 11 terms you should include in your TOU to protect you and your students
  • Why including more strict terms in your TOU is always better, and how you can be gentler when difficult circumstances come up
  • Why including a “refunds at our discretion” clause is a bad idea
  • How your TOU can give you a way to resolve issues with someone stealing your intellectual property, without having to file a costly copyright or trademark lawsuit

Key takeaway: Unlike your website’s privacy policy, TOU are not required by law, but they are the legal foundation of your course business.  Strong TOU will put you and your customers on the same page and will save you a lot of legal headaches.

BONUS: Head over to www.awbfirm.com/course for instant access to our brand new, free masterclass, 3 Legal Protections Your Course Business is Probably Missing, and our legal checklist for course creators (plus you’ll be the first to know when new episodes are live).

Resources:

Contract templates: www.awbfirm.com/contract-templates

AWB Firm Masterclass: www.awbfirm.com/course

This podcast is information, not legal advice specific to your situation.