Secure Data Storage
Thursday, January 12th, 2012We knew pretty quickly that the economy was in serious trouble and the financial indicators were everywhere if you knew where to look for them. One tactic that some of our brokers tried to use involved expanding the properties they were willing to list to include businesses, not just land and its improvements.
I was very much against the brokers getting into selling businesses. There is a unique segment of our industry that specializes in business brokerage and there are very good reasons why it is considered a specialty. For one thing, there is an incredible amount of time spent by the broker on valuing the business and preparing an extensive marketing package. To prepare the marketing package requires a lot of paperwork gathering and analysis, and a lot of research.
The amount of data that is collected for any type of business sale is staggering and it is confidential data that must be safeguarded while parts are being made available to potential buyers. A good solution for storing and managing this data is using an online resource, such as the professional VDR solution for IPO process.
Because financing has been so difficult to obtain from American banks and investment companies, some of our buyers are turning to foreign banks and investors. The problem with dealing with banks in China or the Mid-East is that many of the legal documents must be translated for the foreign banks to review, analyze and present to their loan committees. For those kinds of deals, we can use the Merrill Brink translation services and have a high level of confidence that the data maintains its integrity.
I’ve worked with a technical translation services provider before and it can be very difficult or it can be very easy. I think the first time you try to do an international deal it will be difficult. But once you learn the process and get a deal done, the next ones are much easier.
