Mergers and acquisitions are very complex game changers. They can help your business expand into new markets and increase revenue. The benefits are great, but the complexities legally can make or mar a company, and this is why care must be taken. In achieving a smooth merger and acquisition, you need an expert attorney skilled and experienced with such dealings. With the right attorney, you can expect to have a successful merger and as minimal complications as possible. They will assist in planning the sale and ensuring that your rights are protected. Your attorney will also ensure that the terms of the agreement are favorable such that last-minute crises are averted. Things get complicated quickly, and sometimes, either party may lose significant assets. This is why before you put your business on the market for a merger or acquisition, you should evaluate your attorney using the following questions:
Do they have the required expertise?
The attorney to hire must have specific experience with mergers and acquisitions. It is a necessary expense and will do you no good if you opt for a novice or someone with generalized experience. Your in-house general counsel is also most likely unsuitable for tracking and overseeing a sale of such legal consequence. It would be best if you instead worked with attorneys specialized in mergers and acquisitions with a good knowledge of likely occurrences and methods for mitigation.
Are they familiar with industry standards?
An expert mergers and acquisitions Attorney will be familiar with industry standards and jargon so that they can counsel and guide their clients through the process.
Hiring this kind of attorney helps you set reasonable and attainable expectations. A less experienced lawyer will be unfamiliar with such standards, and this may limit the ease of the experience.
Can the attorney maintain emotional composure?
Objectivity is an essential quality for attorneys, and it is beneficial if your mergers and acquisitions lawyer is separate from your in-house lawyer. Your general counsel in-house may not have the time or be too devoted to your company to consider the situation objectively. A good attorney is one that can deliver unbiased views and opinions on situations without being overly invested to the point of excessive emotional response. Emotional intelligence affects the way your M&A attorney represents and analyzes your situation.
Are they humane?
Beyond legal complexities and expertise, a good mergers and acquisitions lawyer has to be able to deal with issues with consideration of human impact. How will the deal affect the critical stakeholders like owners, employees, and other stakeholders? A good M&A lawyer considers this in negotiating deals and offering legal counsel.
What is the attorney’s objective?
An expert M&A attorney is not only focused on closing deals as fast as possible. They prioritize their client’s interests and counsel when the agreement is not aligned with their goals. A sale will turn out not to be as rewarding as you deserve if your attorney is only focused on closing a deal, irrespective of your goals and its costs to you. This is why you must discuss with your attorney the specific circumstances under which closing is unacceptable or satisfactory. Get into specifics such as numbers, fee ranges, and estimates. While these are not always predictable, an expert M&A attorney will counsel on cutting costs, spending limits, and prearranged expectations.
The attorneys at Lamb, Carroll, Papp, and Cunabaugh have extensive experience providing legal counsel for mergers and acquisitions. If you need expert legal counsel to help you protect your interests, reach out to us.