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Why You Need an M&A Attorney and How to Work with Them

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About the Episode

If you are selling your business, you need an attorney. But do you know how to hire one? Get insider tips from Jude David, an Investment Banker and former M&A Attorney, on the biggest mistakes to avoid, what experience to look for, how to set expectations, tips on fees, and much more so you can get the right M&A attorney to help sell your business.

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“In M&A transactions, there’s no substitute for experience.”

Jude David

What You’ll Learn

  • What to look for when you hire an M&A attorney: what makes an M&A attorney different from other lawyers, the importance of M&A experience, and how M&A is like 3-dimensional chess 
  • What a good M&A attorney does or looks like: ways that the wrong attorney can hurt you, how to identify a good M&A attorney, and questions to ask when looking at an attorney
  • An overview of each step with an M&A attorney: when and how to involve the attorney through each stage, from the LOI through due diligence and the final purchase agreement 
  • Biggest mistakes to avoid: not hiring an experienced M&A attorney and not setting clear expectations 
  • Insights into fees for an M&A attorney: expected fees, how the size of a firm impacts the costs, a flat fee structure versus an hourly rate, and suggested milestones for a flat rate fee schedule

Topics Covered

What’s the key to hiring an M&A attorney? [4:40]
What can having the wrong attorney cost you? [7:35]
What does a good M&A attorney do? [10:50]
What can you ask to see from an attorney to evaluate their M&A experience? [13:50]
How much experience is “enough”? [15:10]
What role does an M&A attorney play – from the initial preparation through to closing? [18:35] 
Should your attorney be involved in the due diligence process? [24:55]
Who’s leading the negotiations at the purchase agreement stage? [32:20]
What mistakes do sellers make when it comes to working with their M&A attorney? [39:35]
What does an M&A attorney cost? How does an hourly fee work versus a flat rate? [44:53]

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Meet Our Guest

Jude David

Jude David Share on Linkedin

Managing Partner, Final Ascent | Lafayette, LA

Returning to M&A Talk, Jude David is Managing Partner of Final Ascent (FAMergers.com) and Chief Executive Officer of Kin Capital Partners, the parent company of Stately Doors & Windows and the Stately family of brands. As a Louisiana native turned corporate attorney and investment banker, he is passionate about helping business owners achieve growth while also strategically planning for an exit. His specialty is the art of the acquisition, focusing on finding the right buyer, negotiating a deal that creates maximum value for everyone involved, and setting business owners up for a lifetime of success after the sale.

LinkedIn LinkedIn: https://www.linkedin.com/in/jude-david-jd-dcl-mba-172a6a76/

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