Terms of use

Last updated: August 31, 2026

1. A venue, not a broker

Loon is a marketplace for buying and selling Canadian businesses, operated by Hugh Bird Inc.. The platform lists businesses, computes estimate ranges from owner data, generates documents from owner-provided facts, and connects owners with buyers. It never negotiates terms, never holds deposits or funds, never signs anything for anyone, never recommends an asking price, and never advises on any offer. Owners set their own price. Buyers and owners deal directly with each other.

2. Your account

You need an account to list a business or to request access to one. Give accurate information and keep it current. Each account holds one role: owner or buyer. Keep your sign-in details private. Everything you reach beyond a public teaser is confidential. Use it only to evaluate that business, and do not pass it on. Do not try to identify an anonymous listing, do not scrape the site, and do not misrepresent who you are, your financing, or your intentions.

3. Free for owners, always

Listing is free for owners, always. There is no listing fee, no retainer, no success fee, and no exclusivity. You can list your business elsewhere at the same time. You can pause or remove your listing whenever you want.

4. The buyer success fee

Buyers pay a success fee when a purchase closes. It is calculated on the transaction value: 5% of the first $1M, 4% of the second, 3% of the third, 2% of the fourth, and 1% of everything above $4M. A $1M purchase pays a fee of $50,000. When a registered broker represents the seller, the fee is halved. The fee is due at closing. The Basic tier is free at launch. Before you get access beyond a teaser, you accept these fee terms in the product, and that acceptance creates the fee obligation.

5. Owner commitments

These commitments make free listing work. They are promises, never charges. Tell us within 5 days when you sign a letter of intent with a buyer you met here, and within 30 days when the sale closes. Make sure the buyer's success fee appears in the closing documents. Do not work around the platform to help a buyer avoid the fee.

6. The valuation is an estimate

Your valuation is an estimate range built from real transaction multiples. It is not an appraisal, not a formal valuation, and not advice. It exists to help you choose your own asking price. For tax, court, or financing purposes, engage a Chartered Business Valuator.

7. Confidentiality and the NDA

Listings are anonymous by default. A buyer who wants more than the teaser sends a request, and the owner decides. Before seeing anything beyond the teaser, the buyer accepts a mutual non-disclosure agreement inside the product. Every reveal is approved by the owner and logged. Owners can revoke access at any time, and revocation takes effect immediately.

8. Deleting your account

You can delete your account at any time in Account settings. Thirty days later, your personal data and your documents are permanently removed. Two kinds of records stay: the acceptance records for the NDA and the fee terms, and the audit trail of actions taken on the platform. They are the evidence of the agreements entered here, and they identify actions by account id, not by name. The one exception is the legal name on an acceptance record itself, because that is the record of who signed, together with the IP address and browser identifier captured at the moment of acceptance.

9. What we provide, and what we do not certify

We provide the platform as described on this site and work to keep it available and accurate. Listings are owner-provided information. We do not audit financials, certify documents, or guarantee that a listing is accurate or that a deal will close. Do your own diligence, and bring your own advisors when a deal gets serious. To the extent the law allows, the platform is not responsible for the outcome of a deal between an owner and a buyer.

10. Governing law and changes

These terms are an agreement between you and Hugh Bird Inc.. They are governed by the laws of Ontario and the federal laws of Canada that apply in Ontario. Each version of these terms is dated, and past versions are kept. When a change is material, you are asked to accept the new terms before you continue using the platform. Questions about these terms reach us at privacy@loonmarket.ca.