Selling a Business in Ontario: What Should You Prepare?
Selling a business in Ontario starts with preparation—not just finding a buyer. This quick guide shows what to organize before sale talks and how to compare possible deal structures with professional advice. Follow a practical path: review corporate records, contracts, leases and intellectual property; spot issues that may arise in buyer due diligence; and discuss asset versus share structures with a tax accountant and corporate lawyer before settling on terms. A brief fictional example shows why early preparation can help an owner have more time to address questions. Then, use a compact checklist to consider the handover, including customer and supplier introductions and operational knowledge. The right structure and transition terms depend on the deal, so this is an overview—not a promise that contracts, licences or employees automatically transfer. Lamba Law shares this Ontario business-law explainer to help owners know what to discuss as they plan a sale.
General information, not legal advice.
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Video transcript
Selling Soon? Start Preparing
In this illustrative example, Maya prepares to sell; I’m with Lamba Law. What should owners prepare first?
Prepare, Compare, Plan Handover
She checks records for gaps, compares sale structures with advisers, and plans negotiated transition terms to support operational continuity.
Maya Finds Questions Early
In this illustrative scenario, Maya reviews her shop lease with advisers and raises assignment questions early, while comparing sale structures before settling on a deal.
Check Before Sale Talks
Before talks, Maya brings her minute book, contracts and ownership records for review. She and her advisers can then negotiate any handover’s scope, timing and compensation.
Prepare Before You Negotiate
Maya’s records help surface issues early; her advisers model structure and pricing before she settles the sale’s terms.
Plan Your Next Conversation
Subscribe for more Ontario business law explainers, and visit lambalaw.ca/contact. General information, not legal advice.