Selling the Intangible Company

Thomas Metz 지음

Wiley 2008년 11월 17일 출간

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In Selling the Intangible Company, Thomas Metz helps entrepreneurs and venture capitalists to better understand the process of selling a company whose value is strategic. He addresses all the key issues surrounding the sale of a company in which the value is in its technology, its software, and its know-how~but has not yet shown up on its balance sheet. Filled with in-depth insights and expert advice, this book provides essential information for business professionals and technology CEOs who need to understand the nuances of selling a company with intangible value.

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Preface.Acknowledgments.CHAPTER 1: Intangible Companies&-Who are These Guys?What is an Intangible Company?Why are Companies Acquired?Why are Companies Sold?When are Companies Sold?The Nuances of Selling an Intangible Company.Summary.CHAPTER 2: Debunking the Myths of Selling the Intangible.The Myth of Intrinsic Value.The Myth of a Narrow Value Range.The Myth of Revenue Multiples.The Myth of Liquidity.The Rolodex Myth.The Myth of Big Buyers.The Myth that Small MA is like Big MA.The Myth that the CEO Should Sell the Company.Summary.CHAPTER 3: The Sale Process.Make Sure the Seller Understands the Process.The Negotiated Sale.The Typical Time Frame for a Deal.Another Approach: The Two-Step Auction.The Restart.How to Handle Confidentiality.Summary.CHAPTER 4: Preparing a Company for Sale.Improve Profitability and Operations.Get Your House in Order.Reduce Risks.Selling Just Technology.Summary.CHAPTER 5: Who are the Best Buyers?Reasons Buyers Buy.Categories of Buyers.Identifying the Right Buyers.Viewing a Market Space.Contacting Buyers.Markets are Always Moving.The Perils of Polarized Markets.Summary.CHAPTER 6: Public or Private&-Pros and Cons.What to Consider When Selling to a Public Company.What to Consider When Selling to a Private Company.Summary.CHAPTER 7: The Concept of Value.Value is Not Necessary.Reviewing the Myths.What is a Market?Types of Value.The Time Premium.Traditional Valuation Methods.Rules of Thumb for Determining Value.How a Buyer Determines Price.Optimum Price vs. Market Stage.Summary.CHAPTER 8: The Poker Game of Negotiations.The Negotiating Process.Good Negotiating Strategies.Know Your Opponent.Utilize Game Theory.The Opening Gambit&-Setting a Price.Communication Dynamics.Negotiations Do

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저자(글) Thomas Metz

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Thomas Metz has been a boutique investment banker for more than twenty-five years. He founded T.V. Metz Co., LLC, in 1983 and has a diverse corporate finance background. Metz's primary specialization is selling technology, software, and service companies. Previously, he invested venture capital for an investment firm and managed new business projects for Gramark Co., a private holding company. Metz has degrees in mathematics and computer science from the University of Oregon and an MBA from the University of California at Berkeley.