When buying or selling a business, consider the ownership of the computers and/or software.
It is not so simple as the business is likely running the software under a license that grants them the right to use the software, however, they probably do not own it. So they will have conditions attached to their use. Find out what they are! We provide on request the details, a change of ownership form and account details to prospective buyers on request, provided that the old owner agrees.
There can be other issues too.
- The new owner may experience problems due to privacy laws, so the software supplier cannot often help the new owner if there are problems until it confirms the new ownership. If the changeover is done at the weekend, this can be a real problem.
- Is the system under subscription? If so, what the new owner is buying is nothing but a legal obligation to pay.