When you buy a business, you expect to take over the customers, the equipment, maybe the staff—but what about the emails? The files? The login credentials? In today’s world, digital assets are just as valuable as physical ones. And if they aren’t handled properly, they can quickly become your biggest headache.
Whether you're buying a small firm or acquiring a growing company, here’s what you need to know to protect your investment and avoid unexpected surprises.
1. Know Exactly What You’re Buying
The purchase agreement needs to clearly define more than just physical items. It should spell out:
-
What data you’re getting (documents, spreadsheets, reports)
-
Which cloud platforms are included (Microsoft 365, QuickBooks, Google Drive, etc.)
-
Whether the email system and accounts are being transferred
-
Ownership of the website, domain names, and social media
-
All usernames and passwords to important systems
👉 Why it matters: If it’s not in writing, the previous owner could retain access—or worse, you might not have access to critical files or communications at all.
2. Get Specific About Email and Communications
Emails are often the lifeblood of a business. Be crystal clear about:
-
Whether you'll receive the seller's email accounts
-
If you'll take ownership of the domain (like @businessname.com)
-
Which inboxes, archives, or communication tools you’ll access
-
Whether old emails will be handed over, forwarded, or lost
👉 Why it matters: Without control of email, you may miss client messages, lose history, or accidentally leave communication channels open to the previous owner.
3. Bring in Your IT Team Early (Yes, Before the Deal Closes)
Buyers always bring in legal and financial experts. But your IT team should be sitting at that same table. They’re the ones who will:
-
Inventory all digital systems and access points
-
Identify hidden risks or security gaps
-
Help secure and transfer data safely
-
Make sure you’re getting what you paid for
👉 Why it matters: Just like you wouldn’t sign a contract without legal review, you shouldn’t inherit a company’s digital infrastructure without IT’s input. IT is your digital due diligence team.
4. Plan for the Handoff—and Set Boundaries
In many cases, the seller sticks around during the transition. That’s helpful—until it’s not. Problems often arise when:
-
The seller retains admin access too long
-
Passwords aren’t handed over properly
-
No one knows who’s in charge of what
Create a clear handoff plan that outlines:
-
Who controls what systems, and when
-
When login credentials will be changed
-
When the seller’s access ends
-
How ongoing tech support or questions will be handled
👉 Why it matters: Ambiguity creates frustration. A clear plan avoids power struggles and protects both parties.
5. Set a Digital Transition Timeline
Without a plan, tech transitions drag on for months. Include a timeline in the deal:
-
When backups will be made
-
When systems/accounts will be transferred
-
When ownership and billing details are updated
-
When final handoff and account closure will occur
👉 Why it matters: If the digital transition doesn’t stay on track, neither will the rest of the business.
Final Thoughts: Protect Your ASSets—The Right Way
Buying a business means taking on more than just what you can touch. Emails, documents, cloud software, and login credentials are just as vital as any piece of equipment. Don’t treat them as an afterthought.
Make sure your legal team covers the contracts, your accountant reviews the books, and your IT team safeguards your digital world.
Bottom line: Don’t leave your ASSets vulnerable—lock them down before Day One!
