M&A is a complicated process; you will need a business attorney to help guide you through it. Choosing the right attorney can make your deal much more successful and beneficial.
One of the first things you need to consider is their experience with your industry and sector. You will want to know that they have experience with the key issues that need to be negotiated, like non-competes and indemnity escrows.
Experience
M&A (mergers and acquisitions) is one of companies’ most complex and significant events. It involves a thorough due diligence review, including the study of financial information, assets, liabilities, and other considerations. This process also requires the negotiation of contracts and obtaining regulatory approvals.
With a skilled M&A lawyer from Linden Law Partners, you may confidently negotiate your deal, avoiding frequent mistakes and obtaining a favorable result. Ask potential attorneys about their experience with your type of business and industry. It would be best to have a lawyer who understands your industry and can negotiate favorable terms.
For example, if you own a government contracting firm, you need an attorney familiar with federal procurement regulations and the novation process. Ask for references to get firsthand accounts of how an M&A lawyer handles different situations. It would be best if you also asked about their billing rates. Generally, lawyers with extensive experience tend to charge higher hourly rates. However, they typically complete work more quickly and efficiently than less-experienced lawyers who charge lower rates.
Reputation
It’s vital to hire an M&A attorney with a good reputation. You can learn about an attorney’s importance through the internet, reviews, and third-party directories. You can also ask for referrals from business owners, accountants, and bankers who have worked with business lawyers.
You should also check out an M&A attorney website and client testimonials. It will help you gauge the attorney’s abilities and capabilities. To ensure a smooth M&A process, it’s advisable to interview several attorneys specializing in M&A and discuss the process with them.
M&A is a complex process requiring a lot of attention to detail. You want a lawyer who can handle all the legal issues related to the sale. For example, your M&A attorney must understand the industry’s nuances if you sell a software company. They will also need to know how to negotiate with other companies. For example, if you have contracts with customers that prohibit the assignment of these contracts to another party, your attorney will need to ensure that this language is changed.
Fees
The attorneys you choose should be clear about the fees they charge. They should be able to give you an estimate before you begin working on the transaction. An attorney with a reputation for doing a lot of deals may charge more per hour than someone newer, but they will likely get the job done faster and more efficiently.
The lawyers you work with should also know your industry. Different industries have unique legal considerations that only an experienced M&A lawyer will understand. For instance, a manufacturer will have more issues than an online marketing firm.
A reasonable M&A attorney can provide you with legal support for the entire transaction. They will help with non-disclosure agreements, preparing purchase and sale agreements, and conducting due diligence. They will also help negotiate the letter of intent and the final purchase agreement. They will handle any licensing and regulatory matters and tax and employment issues.
Communication
A lawyer should be able to communicate with you effectively. It is crucial, especially for complicated transactions like mergers or acquisitions. The attorney must help you understand how the deal will play out and make decisions that will significantly impact your business.
The lawyer should also be able to negotiate with the other parties involved in the transaction. In addition, the attorney should be able to control emotional issues that may arise during a transaction that sometimes takes weeks to complete. Finally, the attorney should be able to understand and negotiate the tradeoffs that often are required in M&A deals. Does the attorney believe that the best way to negotiate is based on mutual respect and constructive communication, or do they think that the only way to be successful in M&A is to win every point?