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Confidentiality is important for a variety of reasons.
Customers, competitors, employees and creditors all will have different reactions to finding out that your business is for sale. Buyer prospects themselves often react negatively to a business opportunity that has not been kept confidential. Business brokers usually follow four steps to protect a seller's confidentiality. If you are using a broker, make sure that these four steps are being taken. If you are selling the business without a broker, you may want to follow one or more of these steps yourself.