Which of the following is NOT a legal activity for a business broker?

Conducting an appraisal of the business is not a legal activity for a business broker primarily because business brokers typically do not hold the credentials necessary to perform formal business appraisals. Appraisals require specific expertise and often must be conducted by licensed appraisers to ensure compliance with relevant standards and regulations. While business brokers can provide insight into the market value of a business based on industry knowledge, a formal appraisal involves a more rigorous process that goes beyond the typical scope of a broker's role.

In contrast, requiring prospective buyers to sign a confidentiality agreement is a standard practice to protect sensitive information during the sale process, thereby ensuring the seller's privacy. Concealing the business's identity is also a legal activity as it safeguards the identities of sellers, which is also crucial during the initial stages of negotiations. Assisting the buyer with due diligence is a fundamental part of a broker’s responsibilities, ensuring that buyers have access to all the necessary information to make an informed decision.