In a small business, every conversation carries weight. In a small business there is nowhere to hide. There’s less of a buffer, fewer layers and tighter margins. A single unclear agreement can cost time, money or trust.
A customer contract may require consent before ownership can change. Important intellectual property may not be properly documented. A key employee may have contractual issues. There may be an unresolved dispute, an unexpected liability or an obligation the buyer simply didn't know about.