M&A seller intake questionnaire, with a records section that never asks for files

An M&A intake questionnaire collects what an advisor needs before engagement: ownership and goals, a financial snapshot, customers and contracts, people and operations. This version adds a metadata-only records section on systems, years of history, exports and data rights, so you can screen a seller for a SourceX data licensing introduction without collecting a single record.

When to send the intake questionnaire

Send it after the first meeting and before the engagement letter, once an NDA is signed, so the owner can answer in one sitting with the CFO beside them. It replaces a sprawling first information request with the questions you need to decide whether to take the mandate, how to scope it and which buyers to approach.

This version adds Section F on records and data rights. It asks only about metadata: which systems exist, how far back they go, who created the records and what the contracts allow. That is enough to decide whether the company is worth introducing to SourceX for a possible data license, without a single file changing hands.

Sections A to E: the core intake

Copy each block into your own form. The numbering lets the owner's answers map straight back to your notes.

A. Ownership and goals

B. Financial snapshot

C. Customers and contracts

D. People

E. Operations

Section F: records and data rights (metadata only)

Put this instruction at the top of the section: please answer from memory, and do not attach files, exports or samples.

F1. Which business systems does the company use? Tick all that apply: email, Slack or Teams, CRM, accounting or ERP, helpdesk or PSA, project management, code repositories, shared drives, phone or call recording, other. F2. For each system, roughly which year do the records start? List any retired systems whose archives still exist. F3. Can someone inside the company export data from each system today? F4. Did contractors or agencies create a significant share of any records? Are there written agreements assigning their work to the company? F5. Are customer calls or meetings recorded? If so, what notice or consent is given? F6. Has the company ever licensed, sold or shared its records with a third party, including for AI training? F7. Does a lender, investor, court or other party have a say over the company's assets? F8. Would you consider a one-time payment for an exclusive license of operational records for AI training, for an agreed term, while keeping ownership?

How to read the Section F answers

Answer pattern	What it means	Next action
50+ full-time employees at peak in D1, 10+ systems, 5+ years, employee-created, yes to F8	Strong licensing candidate	Run the company fit checker and offer an introduction
Strong history, but C3 or F4 raises a rights question	Possible candidate with a rights gap	Suggest the owner has counsel review those contracts first
Records mostly client-owned, or calls recorded without notice	Weak fit for licensing	Note it for diligence; do not introduce
F6 shows an earlier AI training license	Data probably already committed	Confirm its term and scope; usually stop here
F7 shows a lender or court with control	Third-party approval needed	Involve the party with control before any introduction
Below the size baseline, or F3 says nothing can be exported	Not a fit today	Revisit after growth or a migration that preserves exports

Why the records questions are worded this way

F4, contractor work. Under the Copyright Act, copyright vests initially in the author, ownership can be transferred in whole or in part, and any exclusive right can be transferred and owned separately (17 U.S.C. 201). Material produced by outside contractors is not automatically the company's, so written assignments matter.
F5, recorded calls. Consent rules for recordings vary by state. California, for example, prohibits recording a confidential communication without the consent of all parties (California Penal Code 632), so how calls were recorded affects whether transcripts can ever be licensed.
F6 and F8, exclusivity. SourceX deals are typically exclusive for AI training for an agreed term, so an earlier license, or an owner who will not consider exclusivity, usually ends the licensing conversation.

This is general information, not legal, tax or financial advice. The company's own counsel should confirm rights and consent questions before any license is scoped.

How to adapt the questionnaire to the client

Client type	Add	Shorten or remove
Software company	Code repository history, release notes, who owns product analytics	Facilities questions
IT services firm or MSP	PSA ticket history, documentation wiki, client environment access terms	Inventory questions
Professional services firm	Ownership terms in engagement letters, proposal archives	Product questions
Company retiring a product	Which records the product sunset plan will delete, and when	Growth plan questions
Owner whose price expectations exceed the market	The total proceeds the owner needs, separate from the headline price	Detailed buyer preferences

For that last profile, Section F feeds directly into the valuation gap comparison, where a separate license is weighed against earnouts and seller notes.

What the questionnaire must never ask for

Files, exports, screenshots or sample records of any kind
Customer lists, employee names or other personal information
Passwords, logins or system access
A commitment to license, or any promise about what a license would pay
Referral reward figures; if you mention the program, link to it rather than typing amounts

What to do once the answers are back

Read Section F alongside the financial snapshot within the week.
If the profile looks strong, check that the owner wants to be introduced, and agree which answers you may pass on.
Submit the company through the referral form yourself, or let the owner apply directly at sourcex.si/apply through your referral link, which keeps your credit.
Keep the completed questionnaire on file: buyers ask many of the same questions in diligence, as the AI due diligence question list shows.

Partners earn 25% of the eligible platform fees SourceX actually collects from the referred company's licensing deals, capped at $100,000 per referred company, payable only after the buyer pays and SourceX receives its fee. Rewards are not guaranteed and never come out of the company's payment.

Next step

Add Section F to your intake form before your next new-client meeting. When an answer set looks strong and passes the who qualifies baseline, register as a partner and submit the company with the owner's agreement. Keep the M&A advisor referral page handy for the program basics when colleagues ask.

Step 1Share your linkSend your personal link to a company you know.
Step 2Company appliesThe company applies itself at /apply.
Step 3Buyer selects and paysThe buyer selects and pays for the data and SourceX receives its fee.
Step 4You get your rewardYour share of SourceX fees becomes payable.

Common questions

Should the intake questionnaire go out before or after the NDA?

After. Even metadata, such as system names, headcount history and contract terms, can be sensitive for a company that has not announced a sale. A confidentiality agreement signed before the questionnaire goes out protects both sides and makes owners more willing to answer the customer and records questions candidly.

Will asking about data licensing at intake put owners off?

It does not need to, if it is framed as part of a complete picture rather than a pitch. Present Section F as the same questions a buyer's diligence team will ask about systems and data, with licensing as one option among several. Owners who are not interested can answer no to F8 and move on to the rest of the form.

Can the advisor pass the completed questionnaire to SourceX?

Only the parts the owner agrees to share, and only basic fit information such as size, history, systems and rights status. The financial and customer sections are for your engagement, not the introduction. When in doubt, send the owner your referral link and let the company apply directly so it controls what it shares.

What if the owner does not know when records start in each system?

Estimates are fine at intake. Ask who runs IT or operations and have that person complete F1 to F3 later. The goal at this stage is deciding whether an introduction is worth making; the precise, system-by-system picture comes later, when the company completes its own data inventory with SourceX.

How does the records section help in the sale itself?

It surfaces data and systems issues before a buyer does. Contractor work without written assignments, calls recorded without clear notice and customer contracts that restrict data use are all things a diligence team can probe. Knowing them at intake lets you fix, disclose or price them early instead of discovering them during exclusivity.

Free resources

Enterprise value calculator — Enterprise value from equity value, debt and cash.
Earnout scenario calculator — Probability-weighted earnout value and its present value.
Profit margin calculator — Profit and margin across three scenarios.
All free tools · MCP resource center

By SourceX Partnerships Team · Published 2026-10-09 · Updated 2026-10-09

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