Business Brokers (in some markets called business intermediaries) assist buyers and sellers of privately held businesses in the buying and selling process. They typically estimate the value of the business; present and advertise it for sale with or without disclosing its identity; handle the initial potential buyer qualification interviews, discussions, and negotiations with prospective buyers; facilitate the progress of the due diligence investigation, prepare and manage the completion of a formal Business Purchase Agreement and generally assist with the business sale. Agency relationships in business ownership transactions involve the representation by a qualified Business Broker (on behalf of a business brokerage company) of the selling principal. That person is usually a seller although there are circumstances where a buyer may retain a broker to source a business to buy. The principal broker (and his/her agents) then become the agent/s of the selling principal, who is the broker’s client. The other party in the transaction, who does not have an agency relationship with the broker, is the broker’s customer.