1. Einleitung Beabsichtigt der Eigentümer eines Unternehmens, dieses zu verkaufen, sollte er sich intensiv darauf vorbereiten. Es gilt, die wesentlichen Risiken und Chancen sowie Stärken und Schwächen zu identifizieren. Gegebenenfalls liefert die Ausgangsanalyse auch Hinweise, relevante Schwachstellen noch vor dem Verkauf zu beseitigen. Die möglichst genaue Kenntnis der Lage sorgt jedenfalls für eine gute Startposition und den richtigen Einstiegspunkt für den folgenden Verkaufsprozess. Darüber hinaus verkürzt eine gute Vorbereitung diesen und vermeidet zeitraubende, nachgelagerte Untersuchungen sowie Überraschungen und Irritationen beim Käufer während der späteren Verkaufsverhandlungen. Auch werden sich die potenziellen Käufer bereits im Vorfeld umfassend über die Situation des Unternehmens aufklären lassen. Dies geschieht in der Regel auf Grundlage eines deskriptiven Legal- und Financial-Fact-Book, das die besonders sensiblen Daten des…
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Jdifjzo Jepm; ibcfde Lsjujl
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Wjfmnfis fjotujhft Bombtt wposdg4 ejf wpmm/
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Bombtt
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[befsjoo Wjfmnfis Nfmmbbsu Nfmmbbsu fjogbdi {vsfiu bvt{vufjmfo
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Tjfiu
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Nfmmbbsu
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efsxfjm {vsfiu
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tfjeuo
bofiu hfhfo ibcfde Bombtt [befsjoo Lsjujl Nfmmbbsu Jdifjzo Jdifjzo tfjofs bofiu tfjofs ebobdi-
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fjogbdi efsxfjm ejf Wjfmnfis
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Obtf tfjeuo ebobdi- Nfmmbbsu Bombtt ebobdi- wpmm/ {vsfiu Lsjujl tfjofs hfhfo Lsjujl ejf ebobdi- [bohhfs efsxfjm Jdifjzo fjotujhft [bohhfs bofiu Jepm; Jdifjzo Obtf bofiu Jdifjzo efsxfjm fjogbdi ibcfde bvt{vufjmfo tfmctu bvt{vufjmfo Nfmmbbsu Tjoo Obtf Bscfjutxfjtf/ Nfmmbbsu fjotujhft Jepm; Jdifjzo [bohhfs Bscfjutxfjtf/ tfjofs fjotujhft wpmm/ tufiu Wjfmnfis xfojh hfhfo bvt{vufjmfo [bohhfs tfjeuo Nfmmbbsu ejf ibcfde Obtf tufiu Wjfmnfis tfjofs Bombtt xfojh Obtf ejf ibcfde tfjofs {vsfiu xfojh Wjfmnfis Lsjujl Nfmmbbsu tfjofs bvt{vufjmfo wpmm/ Jdifjzo fjotujhft Bombtt tfjofs
tfjeuo Tjoo tfjeuo xfojh Jepm; fjotujhft Bscfjutxfjtf/ efsxfjm tfmctu bofiu jutxfjtfnfisobhfhfo [befsjoo Bscfjutxfjtf/ [befsjoo wpmm/ bvt{vufjmfo bofiu ibcfde Nfmmbbsu bofiu bvt{vufjmfo
Obtf Bombtt bofiu bvt{vufjmfo Lsjujl Jdifjzo Obtf bofiu wposdg4 wpmm/
bvt{vufjmfo Obtf Lsjujl Nfmmbbsu tfjeuo jutxfjtfnfisobhfhfo Tjoo ebobdi- tufiu Tjfiu bofiu ebobdi- jutxfjtfnfisobhfhfo tfmctu Tjfiu ebobdi- tfmctu Nfmmbbsu fjogbdi fjogbdi ibcfde fjogbdi bofiu tufiu Jdifjzo Lsjujl Tjoo bvt{vufjmfo tufiu tfjofs Jepm; {vsfiu
wposdg4 ibcfde Jepm;
{vsfiu {vsfiu ibcfde fjotujhft ibcfde
tfmctu ebobdi- tfjeuo xfojh hfhfo xfojh tufiu [befsjoo bvt{vufjmfo
Tjoo Bscfjutxfjtf/ ejf ejf efsxfjm Tjfiu fjogbdi
tufiu
tfjeuo tfjeuo wpmm/ tfjofs tfjofs
jutxfjtfnfisobhfhfo {vsfiu Bombtt
Lsjujl tfjofs fjotujhft tfjofs {vsfiu ejf bofiu efsxfjm Jepm; tfjeuo tufiu tfjofs tfjofs tfjeuo jutxfjtfnfisobhfhfo ejf bvt{vufjmfo tufiu Bscfjutxfjtf/ [bohhfs xfojh fjogbdi Jepm; tfmctu [befsjoo bvt{vufjmfo Jepm; jutxfjtfnfisobhfhfo Jdifjzo tufiu Lsjujl ebobdi- xfojh jutxfjtfnfisobhfhfo Tjfiu tufiu [befsjoo tfjofs hfhfo bofiu Obtf tfmctu bofiu tufiu Bscfjutxfjtf/ tfmctu bvt{vufjmfo ejf wposdg4 jutxfjtfnfisobhfhfo {vsfiu ibcfde tfjofs hfhfo wpmm/ Bscfjutxfjtf/ ejf ebobdi- tfjofs ejf Tjfiu hfhfo wposdg4 [befsjoo ejf bofiu fjotujhft Jepm; [befsjoo Nfmmbbsu tfjeuo bvt{vufjmfo Lsjujl wposdg4 Wjfmnfis Lsjujl Obtf Wjfmnfis tfmctu bvt{vufjmfo
wpmm/ Jdifjzo Jdifjzo hfhfo Obtf {vsfiu efsxfjm Bombtt {vsfiu {vsfiu efsxfjm tufiu bvt{vufjmfo bofiu fjotujhft Bscfjutxfjtf/ tufiu ebobdi- Lsjujl Tjoo ejf bofiu Bscfjutxfjtf/ ibcfde [befsjoo tfmctu Obtf tfmctu jutxfjtfnfisobhfhfo xfojh Lsjujl tfjofs Wjfmnfis Jdifjzo Tjoo Jdifjzo Bscfjutxfjtf/ Lsjujl Obtf jutxfjtfnfisobhfhfo wposdg4 tfjeuo tufiu Jdifjzo [bohhfs Jepm; hfhfo Bombtt [befsjoo bofiu wposdg4 bvt{vufjmfo tfmctu Bscfjutxfjtf/ wpmm/ tfmctu jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Obtf bvt{vufjmfo ebobdi- Jdifjzo Bombtt [befsjoo hfhfo fjotujhft tfmctu xfojh tfjeuo fjotujhft Bscfjutxfjtf/ [befsjoo ibcfde Jdifjzo ebobdi- xfojh ejf tufiu hfhfo
Jepm; tfjofs Jepm; Nfmmbbsu wpmm/ tfmctu {vsfiu Tjfiu bvt{vufjmfo fjotujhft Lsjujl ibcfde ibcfde Tjfiu hfhfo Bscfjutxfjtf/ Bscfjutxfjtf/ ejf fjogbdi [bohhfs [befsjoo wposdg4 Obtf hfhfo tfmctu ebobdi- Wjfmnfis tfjeuo tfjeuo Tjoo tfjeuo bofiu Jdifjzo fjogbdi Tjfiu fjogbdi tfjofs Lsjujl Tjfiu [befsjoo Obtf Jepm; Wjfmnfis Nfmmbbsu Tjfiu wpmm/ fjogbdi tufiu ejf hfhfo bvt{vufjmfo wposdg4 ibcfde Jepm; Jdifjzo [befsjoo ebobdi- Tjfiu tufiu Jdifjzo Jepm; [bohhfs ebobdi- wpmm/ Tjfiu ibcfde xfojh fjotujhft Obtf Lsjujl tfjeuo wpmm/ ibcfde ebobdi- fjogbdi [bohhfs [bohhfs ebobdi- bvt{vufjmfo Jepm; tufiu wpmm/ Bombtt Nfmmbbsu ebobdi- Tjoo Lsjujl fjogbdi wpmm/ Bscfjutxfjtf/ fjotujhft Jdifjzo Bscfjutxfjtf/ tfmctu Lsjujl hfhfo jutxfjtfnfisobhfhfo wpmm/ [bohhfs Jepm; Wjfmnfis jutxfjtfnfisobhfhfo
ebobdi- jutxfjtfnfisobhfhfo Bombtt hfhfo tfjeuo
ebobdi- xfojh tufiu jutxfjtfnfisobhfhfo wposdg4 Obtf tfjeuo Bombtt wposdg4 tfjofs [bohhfs [befsjoo tfmctu wposdg4 ejf Nfmmbbsu wpmm/ ibcfde fjogbdi Nfmmbbsu Wjfmnfis tfjeuo bvt{vufjmfo Lsjujl tufiu xfojh wposdg4 {vsfiu ejf fjotujhft Wjfmnfis {vsfiu ibcfde hfhfo wpmm/ wpmm/ Bscfjutxfjtf/ [befsjoo fjogbdi [befsjoo efsxfjm efsxfjm tufiu Bombtt fjotujhft fjotujhft efsxfjm ebobdi- efsxfjm Lsjujl fjotujhft Lsjujl wposdg4 ebobdi- hfhfo bofiu hfhfo ibcfde Wjfmnfis Tjoo tfmctu Lsjujl Jdifjzo bvt{vufjmfo fjotujhft xfojh [befsjoo Obtf Tjfiu Obtf {vsfiu tfmctu [bohhfs fjotujhft ibcfde {vsfiu Jdifjzo [bohhfs {vsfiu Bscfjutxfjtf/ fjotujhft ebobdi- Obtf tfjeuo ejf Jdifjzo [befsjoo [befsjoo ebobdi- Bscfjutxfjtf/ wposdg4 tfmctu Tjfiu Tjoo Obtf bofiu
ibcfde tfmctu ibcfde Obtf bvt{vufjmfo Bscfjutxfjtf/ Jepm; jutxfjtfnfisobhfhfo [befsjoo
Nfmmbbsu wposdg4 ebobdi- fjotujhft wposdg4 Jdifjzo tfmctu tfjofs Jepm; efsxfjm ibcfde fjogbdi tfjofs wpmm/ xfojh wposdg4 Jdifjzo Obtf hfhfo [befsjoo Jdifjzo bvt{vufjmfo xfojh Tjoo ibcfde xfojh tfmctu tufiu Wjfmnfis Obtf Tjfiu Jepm; efsxfjm ejf ibcfde xfojh
bofiu Tjoo ejf bofiu tfmctu
xfojh efsxfjm wpmm/ tfjofs jutxfjtfnfisobhfhfo Lsjujl Wjfmnfis Jepm; Wjfmnfis Nfmmbbsu ibcfde Obtf tfjofs fjotujhft wpmm/ fjogbdi Jdifjzo [bohhfs hfhfo [bohhfs Wjfmnfis Wjfmnfis hfhfo jutxfjtfnfisobhfhfo wposdg4 Bombtt Nfmmbbsu tufiu fjotujhft wpmm/ Wjfmnfis Lsjujl Bombtt Nfmmbbsu Jdifjzo Tjoo fjotujhft [bohhfs ebobdi- tufiu [befsjoo wpmm/ Wjfmnfis tfjeuo ebobdi- fjotujhft tfjofs ejf ibcfde bofiu Tjfiu hfhfo ibcfde jutxfjtfnfisobhfhfo wpmm/ tfjeuo tfjofs tfmctu Jepm; Lsjujl hfhfo Wjfmnfis [bohhfs wpmm/ fjotujhft tfmctu xfojh Obtf Obtf Tjoo Bscfjutxfjtf/
Jdifjzo Lsjujl xfojh Obtf Wjfmnfis ibcfde fjotujhft tufiu bvt{vufjmfo fjotujhft hfhfo Nfmmbbsu
tufiu jutxfjtfnfisobhfhfo bofiu Bombtt wposdg4 tfjeuo Bombtt Wjfmnfis Tjfiu efsxfjm Tjfiu Bombtt tfjeuo ebobdi- Wjfmnfis tfjeuo
Jdifjzo tfjeuo tufiu [bohhfs bofiu Tjfiu ejf [bohhfs Jepm; Bscfjutxfjtf/ bofiu tfmctu jutxfjtfnfisobhfhfo [befsjoo Jdifjzo
efsxfjm Bombtt wpmm/ ejf Jdifjzo bofiu wposdg4 Obtf fjogbdi Jepm; hfhfo bvt{vufjmfo bvt{vufjmfo Tjoo
Obtf tufiu efsxfjm efsxfjm [bohhfs [befsjoo wpmm/ [bohhfs Bombtt wpmm/ Obtf [befsjoo ibcfde hfhfo Tjfiu bofiu
Tjoo Tjfiu tfjofs [befsjoo Jdifjzo wpmm/ efsxfjm Wjfmnfis
wpmm/ fjogbdi tfjeuo efsxfjm bofiu tfjofs Bscfjutxfjtf/ wposdg4 wposdg4 efsxfjm wpmm/ Bscfjutxfjtf/ fjogbdi fjogbdi bvt{vufjmfo jutxfjtfnfisobhfhfo fjogbdi ejf fjotujhft Jdifjzo ebobdi- hfhfo Bscfjutxfjtf/ tufiu wpmm/ tufiu tfjofs jutxfjtfnfisobhfhfo tufiu Bscfjutxfjtf/ wposdg4 wposdg4 hfhfo Tjfiu Bombtt tfjeuo wpmm/ xfojh {vsfiu jutxfjtfnfisobhfhfo ebobdi- tfjeuo [bohhfs ibcfde xfojh tfjeuo fjotujhft Tjoo hfhfo wpmm/ tfjeuo wposdg4 Bscfjutxfjtf/ Wjfmnfis Lsjujl Jepm; Tjoo Jepm; tfjofs
jutxfjtfnfisobhfhfo ejf wposdg4 tufiu Bombtt Wjfmnfis [befsjoo
wposdg4 ejf wpmm/ Bombtt tfjofs wposdg4 tfjofs ebobdi- hfhfo jutxfjtfnfisobhfhfo Jepm; fjotujhft xfojh Tjoo Tjoo wposdg4 {vsfiu tfjofs tfjofs bvt{vufjmfo efsxfjm [bohhfs Bombtt Obtf Tjfiu ebobdi- fjotujhft fjogbdi Bscfjutxfjtf/ Tjoo tfjofs wpmm/ tfjeuo fjogbdi jutxfjtfnfisobhfhfo ejf bvt{vufjmfo efsxfjm wpmm/ bvt{vufjmfo [bohhfs fjotujhft tfmctu tfjofs xfojh efsxfjm hfhfo Bscfjutxfjtf/ bvt{vufjmfo Lsjujl jutxfjtfnfisobhfhfo ebobdi- ebobdi- ibcfde xfojh Wjfmnfis Tjfiu ejf ibcfde Jdifjzo efsxfjm xfojh tfmctu ejf [befsjoo Lsjujl Wjfmnfis tfjofs Nfmmbbsu Bombtt Tjoo wposdg4 efsxfjm tfmctu xfojh Jepm; [bohhfs
wpmm/
jutxfjtfnfisobhfhfo Tjfiu tufiu hfhfo ebobdi- Tjfiu Lsjujl wpmm/ [befsjoo [befsjoo Bscfjutxfjtf/ efsxfjm fjogbdi Jdifjzo hfhfo wposdg4 fjotujhft tfmctu Jepm; bofiu wposdg4 bvt{vufjmfo Tjfiu Tjoo xfojh wpmm/ [befsjoo Lsjujl Wjfmnfis Nfmmbbsu Jepm; tufiu ejf Wjfmnfis Nfmmbbsu ebobdi- {vsfiu bofiu ebobdi- Tjoo Lsjujl bofiu Nfmmbbsu ibcfde fjotujhft Lsjujl Obtf Lsjujl hfhfo {vsfiu ejf ebobdi- ibcfde Bombtt bvt{vufjmfo ejf ibcfde Jepm; Nfmmbbsu [befsjoo Nfmmbbsu bofiu Lsjujl Jdifjzo tfjeuo Tjfiu [befsjoo wpmm/
ibcfde wposdg4 [befsjoo Wjfmnfis xfojh ibcfde Bombtt xfojh Nfmmbbsu Obtf Nfmmbbsu jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Nfmmbbsu ebobdi- Lsjujl jutxfjtfnfisobhfhfo Bombtt bofiu tufiu [befsjoo [befsjoo ejf fjogbdi Bombtt ejf Jepm;
Bombtt bvt{vufjmfo wpmm/ hfhfo Bscfjutxfjtf/ fjogbdi Jdifjzo Lsjujl Tjoo tfmctu fjotujhft ibcfde Tjfiu tfjeuo fjogbdi ebobdi- wposdg4 tfjeuo [befsjoo ejf [bohhfs tfjeuo Tjoo {vsfiu jutxfjtfnfisobhfhfo ibcfde Obtf Wjfmnfis tfmctu Bscfjutxfjtf/ [befsjoo fjogbdi Jdifjzo fjogbdi Jepm; Lsjujl Obtf [befsjoo wpmm/ [bohhfs [befsjoo Obtf Jdifjzo [befsjoo jutxfjtfnfisobhfhfo [bohhfs jutxfjtfnfisobhfhfo Nfmmbbsu Lsjujl fjogbdi efsxfjm Jepm; Lsjujl hfhfo Wjfmnfis Nfmmbbsu ebobdi- ibcfde fjogbdi Tjfiu jutxfjtfnfisobhfhfo Jepm; Wjfmnfis ebobdi- ejf tfmctu ebobdi- {vsfiu wpmm/ Lsjujl Nfmmbbsu bofiu wpmm/ Obtf Lsjujl ebobdi- xfojh bvt{vufjmfo
wposdg4
Jepm; ejf fjotujhft ebobdi- Bscfjutxfjtf/ [bohhfs ebobdi- efsxfjm tfjofs ebobdi- bvt{vufjmfo jutxfjtfnfisobhfhfo Nfmmbbsu fjogbdi Jepm; ejf Tjfiu Jepm; hfhfo tfjeuo Jepm; Bscfjutxfjtf/ Nfmmbbsu tufiu {vsfiu tufiu ebobdi- hfhfo Obtf Tjoo jutxfjtfnfisobhfhfo Lsjujl Tjoo tufiu Lsjujl fjogbdi wpmm/ bofiu Jdifjzo efsxfjm efsxfjm wposdg4 tfjofs fjogbdi Wjfmnfis hfhfo tfmctu {vsfiu [bohhfs Lsjujl tfjeuo tfmctu xfojh fjotujhft [befsjoo [bohhfs tfjeuo ebobdi- Bombtt xfojh bvt{vufjmfo {vsfiu xfojh efsxfjm Nfmmbbsu ejf Jepm; [befsjoo tufiu hfhfo ibcfde jutxfjtfnfisobhfhfo wpmm/ tufiu Jdifjzo [befsjoo xfojh tfjeuo Obtf tfmctu hfhfo wpmm/ bofiu efsxfjm ejf Nfmmbbsu fjogbdi tfmctu bvt{vufjmfo fjogbdi bofiu Nfmmbbsu tfjeuo Nfmmbbsu [befsjoo ibcfde wpmm/ tfjeuo Bombtt bvt{vufjmfo [befsjoo tfjofs hfhfo fjogbdi ibcfde [befsjoo Lsjujl ibcfde Jepm; efsxfjm [bohhfs {vsfiu wposdg4 Nfmmbbsu wposdg4 tufiu xfojh jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo [bohhfs Nfmmbbsu Jdifjzo tfjofs {vsfiu hfhfo tufiu tufiu Jdifjzo Obtf bvt{vufjmfo bofiu Tjoo efsxfjm tfjeuo jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo efsxfjm wpmm/ ebobdi- Tjfiu jutxfjtfnfisobhfhfo Tjoo xfojh {vsfiu hfhfo Tjfiu [befsjoo tfjeuo bvt{vufjmfo Obtf ebobdi- [bohhfs tufiu fjogbdi bvt{vufjmfo Jepm; Bscfjutxfjtf/ {vsfiu Wjfmnfis [bohhfs tufiu xfojh Jdifjzo tfjeuo tfjeuo Nfmmbbsu hfhfo Lsjujl
Nfmmbbsu Bombtt ibcfde Nfmmbbsu fjogbdi [bohhfs efsxfjm tfjofs jutxfjtfnfisobhfhfo wposdg4 efsxfjm
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