Legal Due Diligence

Survival Period

How long certain promises and claims last after closing. Why it matters: This gives owners a clearer way to understand buyer questions, advisor comments, and negotiation tradeoffs during a sale process.

Related terms

Advisor

A professional who helps with the sale, such as a broker, M&A advisor, CPA, attorney, or investment banker. Why it matters: The right advisor can help prepare materials, explain tradeoffs, manage buyers, reduce surprises, and keep the owner from negotiating complex deal terms alone.

Closing

The moment when the sale officially happens and ownership transfers. Why it matters: This term affects what must happen at closing, how money moves, and how final obligations are documented.

Buyer

The person, company, investor, or fund trying to buy the business. Why it matters: Different buyers value different things, so knowing the buyer type helps an owner understand likely questions, risks, financing needs, and negotiation style.

More from Legal Due Diligence

APA Asset Purchase Agreement Assignment Basket Change of Control Consent Covenant Definitive Agreement Disclosure Schedule Encumbrance Indemnification Indemnity Cap

Browse all 236 terms in the knowledge bank →

Get a real advisor on your team

Looking up terms is helpful. Having a vetted advisor who explains them in the context of your specific business is better.

Plan your exit Back to knowledge bank