Perhaps the small business market is different, but I find landlords are generally willing to agree in a lease to not unreasonably withhold consent to assignment, subject to the assignee being equally creditworthy to the assignor. So this is a case where a seller with a mind to eventually sell the business (even many years out) can do him/herself a huge favor by negotiating the lease beforehand.
Software vendors, OTOH, often refuse these edits because extracting a pound of flesh from M&A sellers is part of their business model.
The complexity of M&A is fascinating. Your mini-law classes are just the right size. Please keep them coming.
Thank you. I really appreciate this.
Perhaps the small business market is different, but I find landlords are generally willing to agree in a lease to not unreasonably withhold consent to assignment, subject to the assignee being equally creditworthy to the assignor. So this is a case where a seller with a mind to eventually sell the business (even many years out) can do him/herself a huge favor by negotiating the lease beforehand.
Software vendors, OTOH, often refuse these edits because extracting a pound of flesh from M&A sellers is part of their business model.