O
Oper
Guest
Over the last 4 years I've built up an ecommerce business and have been made an enticing offer for it by a competitor.
The sale will be of assets only and will include domain names and customer information. They propose to pay around €400k for the business over two years with equal payments each month. This is fine by me so long as I could guarantee payment.
My question is this: what should I do to help guarantee payment?
Placing the domains of the business in escrow is one option, but I do not think that that is enough. They could conceivable then give up the domains once they have gained access to the business' customer information after initial monthly payment.
The buyer is based in the US (I'm in Ireland), which would make litigation a little difficult if things went wrong.
And advice will be much appreciated.
The sale will be of assets only and will include domain names and customer information. They propose to pay around €400k for the business over two years with equal payments each month. This is fine by me so long as I could guarantee payment.
My question is this: what should I do to help guarantee payment?
Placing the domains of the business in escrow is one option, but I do not think that that is enough. They could conceivable then give up the domains once they have gained access to the business' customer information after initial monthly payment.
The buyer is based in the US (I'm in Ireland), which would make litigation a little difficult if things went wrong.
And advice will be much appreciated.