Ask The Expert

Do I need an attorney?

If your buyer is a larger competitor or private equity firm — or if the buyer’s attorney prepares the letter of intent and purchase agreement — you should have an attorney on standby or retainer to review the key documents. To be sure, Morgan & Westfield is actively involved in the negotiations of these key documents on your behalf, but we are M&A experts, not attorneys — and it’s attorneys who are best suited to review the finished product from a legal perspective.

On the other hand, if Morgan & Westfield drafts the offer and purchase agreement — which is what generally occurs when the buyer is an individual or small competitor — and the buyer makes or suggests only minimal changes to our drafts, you may not need an attorney. In fact, many transactions successfully conclude without an attorney.

Individual buyers or small competitors will often allow us to prepare the key documents. After all, they, too, would prefer to avoid a lawyer’s fee, if possible. And in any event, you can always have your attorney review our drafts if you feel that’s necessary.