There are three main types of business transition:

1. Sale to a Third Party
2. Family succession
3. Management buyout

In this section we will look at the different types of transitions referred to above and the implications of each. This guide will deal primarily with business to business transitions from the seller and the buyers' perspectives. Family succession and management buy-outs will be covered in general terms in order to provide an overview of the scope of the issues that need to be dealt with beyond the financial transaction.