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Submit ReviewIf you liked this episode, subscribe to our weekly newsletter and receive new episodes, offers and learnings directly to your inbox, every week:newsletter.acquanon.com/">https://landing-newsletter.acquanon.com/-----Michael Girdley (@Girdley) and Mills Snell (@thegeneralmills) are joined by Eric Pacifici (@SMB_Attorney), to talk about all things legal:M&A legal documentation, what an attorney does, the different legal aspects between small and big deals, litigation, indemnification, intervening when the lawyers slow down your deal, buyer & seller best practices on deals, negotiation leverages, and MUCH more.-----Thanks to our sponsors!
* CloudBookkeeping offers adaptable solutions to businesses that want to focus on growth with a “client service first” approach. They offer a full suite of accounting services, including sophisticated reporting, QuickBooks software solutions, and full-service payroll options.-----
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Show Notes:
(00:00) - Introduction to legal secrets you need to know for SMB M&A(00:50) - Our sponsor is Cloudbookkeeping.com(02:15) - SMB Attorney has Come Out of the Closet!(05:46) - How Do You Find An Attorney?(11:36) - What is Indemnity and the Mechanics Around It?(21:00) - What is a realistic amount of time budgeted for legal documentation?(23:53) - How can you keep your deal on time when an assessor slows you down?(27:00) - How can you keep the other parties’ lawyers on time to avoid a deal from breaking down?(36:06) - What is the role of the lawyer in the deal?(38:55) - Who should prepare legal documents? Buyer, seller? How does that play in the evolution of the deal?(43:02) - Big Firms vs small firm tradeoff: What’s to note?(48:04) - Money, fees & fee structure: Explained(54:10) - What usually prevents litigation?
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Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.
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Additional episodes you might enjoy:
#98 Insurance Broker Secrets for Business Buying - Tom Gilroy - Acquisitions Anonymous Episode 98
#96 From W-2 to Business Owner - Patrick Dichter tells us how to cold reach seller and we discuss 2 Deals
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