Most attorney’s can get a deal done, the right attorney keeps you from getting sued post transaction
One of the key decisions owners of private companies must make in selling their company is what deal attorney they should partner with. The selection is critical, not just in helping you negotiate key elements of the deal but also in ensuring you’re protected years after the deal is completed. Selecting your future deal attorney is as important as your decision in selecting a broker/investment banker or even selecting the acquirer that is best for your business. Here are questions to ask when interviewing your potential legal partner in doing a transaction:
- What size of company do you generally represent in transactions?
- What experience do you have in doing transactions in my industry?
- What do you see as your role in helping me get a deal done?
- What are the key deal points you would be negotiating for me?
- What are the common pitfalls you come across in transactions?
- What are examples of key decisions you’ll be asking me to make during the process?
- How does your fee structure work for representing me?
- How do you work with our broker/investment banker?
The “when” to selecting your deal attorney is also an important decision. Our guidance to our clients is to engage your deal attorney early in the process so they are on board as you even negotiate Non-Disclosure agreements with a potential acquirer.
Your team for getting you a future euphoric sale event should include an experienced exit planner, like Yosemite Associates), a tax advisor and a deal lawyer. Use these questions to help you screen the legal partner that you believe can help you get a great deal done.
