Provided by: Jennifer Kirschenbaum, Esq.
April 29, 2021
I am thinking of selling my practice. Is it normal to agree to an exclusivity period where I will not talk to other potential buyers? The non disclosure agreement I was given says that.
Yes. An exclusivity period is normal, depending on the length. Most potential buyers will look for adequate time and access to your practice to make a deal, since the buyer is spending time and money considering whether to purchase. 60-120 days are in the range of "normal". Language in the NDA may be tricky, so be sure to send over for review.