We recently invited Joanna Oakey, director of Aspect Legal on a webinar on the topic ‘Acquiring A Business.’
Here’s what she said -
Process is something most lawyers won't even talk about, because most lawyers don't have a defined process for how they see acquisitions.
They might have a process in that they know the contract goes first and then you negotiate it.
What are the things that can cause deals to fall over? How do you protect against that from the beginning? A lot of it is based on emotional intelligence. Making sure the parties are communicating and that you're not getting caught up in the quagmire of pointless detail, that you're actually focusing on the big picture and the important things. And also that you're dealing with someone that's got templates, checklists, and processes to move this forward.