Due diligence checklist: business purchase

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This checklist is for the acquisition of the business and assets of a private limited company.

 

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Legal due diligence checklist for the acquisition of the business and assets of a private limited company

Background

Why use a due diligence checklist?

As a starting point for its legal due diligence, the buyer (or its advisers) will send a due diligence checklist to the seller, comprising a series of questions and requests for information relating to the target business and assets. The seller should respond to the specific questions and provide copies of relevant documents.

Depending on the answers and documents provided, the buyer may have follow-up questions.

The buyer may include in the business purchase agreement either a general warranty or specific warranties regarding the accuracy and completeness of the answers and information provided during the due diligence process. Care should be given in answering the requests, due to potential claims for breach of warranty and misrepresentation.

The answers and materials provided by the seller should also form the basis of the specific disclosures to be made by the seller in the disclosure letter which will accompany the business purchase agreement.

About this due diligence checklist

This checklist is for the acquisition of the business and assets of a private limited company.

The checklist requests answers and information on a wide range of matters, including:

  • corporate matters relating to the seller
  • business contracts
  • litigation and compliance
  • assets
  • intellectual property
  • commercial property
  • employees
  • finance and insurance
  • tax

Document features

Features include:

  • checklist in table form for completion by the seller
  • subject headings covering the main areas of interest to a buyer of a business

Explanatory guidance

As with all of our document templates, your purchase will include access to clear explanatory guidance on the document and its use.

Due diligence checklist: business purchase

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