Our clients often are founders of companies that have a long-standing relationship with a general business attorney. That lawyer may have handled a variety of legal issues over the years and the founder may feel a strong sense of confidence in (and loyalty to) the attorney. But for reasons listed below, M&A transactions present unique legal considerations requiring a professional who specializes in them:
- Substantive knowledge – they will know where potential pitfalls lie in the myriad documentation and transaction steps involved and legal risks presented.
- Speed and efficiency – they can respond quickly and effectively during a process where time truly is of the essence.
- Negotiating strength – pricing can be affected dramatically during the final stages of a deal and having a highly respected M&A attorney on your side can mean the difference between holding a buyer to their bid v. having to concede to a price reduction.
As one who practiced transaction law very early in my career, I recognize the value of having a well-known specialist on your legal team right from the start. That is why we always advise our clients to make sure they’ve retained the right attorney for the job.
Have a great day everyone.