In this video, Mitesh Patel, founder of Blue Sky Law, explains the third step in the seven-step process of selling your business: getting an offer. After the dating and matchmaking phase where your company is introduced to the market, the next major milestone is receiving an offer, typically in the form of a Letter of Intent (LOI). This document represents the buyer’s formal intention to purchase your business and sets the stage for what comes next in the sale process. Mitesh breaks down what an LOI means, what to expect after receiving one, and why this step is such a pivotal part of the transaction. For expert guidance on every step of selling your business, Blue Sky Law is here to help.