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The Gap Partnership

'Limited information' should be disclosed during business negotiations

Specific contract details do not need to be disclosed

04 August 2010

Firms should only disclose limited information during business negotiations, it has been claimed.

When selling a company, potential buyers will request a host of confidential information but, according to one expert, businesses should not reveal too many specifics.

Simon Burge, a UK-based business sales expert, expressed his belief that firm's should ascertain the risks involved in exposing precise contract details.

He wrote on ezinearticles.com: "Its all well and good saying that you have a lucrative contract with a selection of well known blue chip clients or local businesses but remember, the value of your business is heavily influenced by these contracts.

"If these clients got word of your intentions to sell, you could be in big trouble."

Mr Burge advised negotiators to draw up a non-disclosure agreement to ensure potential buyers do not release any confidential information.

Moreover, companies could simply make general comments on the value and length of contracts with clients, without naming specific businesses. 

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