Glossary · People and paperwork
In short
A person or entity legally and ethically obligated to act in the best interest of another party. Your lawyer or M&A advisor should act as your fiduciary.
When you hire professionals like attorneys, M&A advisors, or even your lender (in some limited contexts), they have a fiduciary duty to you. This means they must prioritize your interests, provide transparent advice, and avoid conflicts of interest. Always ensure your advisors understand and adhere to this responsibility.
Defined by DealRoom.so SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
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