Buying a Business in Ontario: From Letter of Intent to Closing
A transaction moves through stages.
It begins with initial discussions, followed by a letter of intent. Due diligence is conducted. Definitive agreements are negotiated. The transaction closes.
These stages overlap.
Issues identified in diligence affect negotiation. Terms set early may need to be revisited.
The process is iterative, not fixed.
The timeline is driven by how quickly information is gathered and how efficiently issues are resolved.