Want to uncover the secret to successful business transactions?
It’s not about finding the best deal or the lowest price (although those are important).
The secret is having the right legal expertise at your side from day one.
Every single business transaction, whether it be purchasing, selling, or merging, is loaded with legal complexities and intricacies. Miss one key detail, and you can be hit with:
Want to know the secret…
For most business owners, the true level of risk is not realized until it’s too late.
Business transactions are only getting more complex.
Between compliance regulations, negotiations, and just the proper due diligence needed — there’s a lot that can go wrong. Add to that the high stakes when there is a lot of money and your company’s future on the line? You can’t afford to do it alone.
Let’s take a look…
Over 65% of corporate legal departments outsource at least one legal function. Why? Because they realize:
Legal experts = less expenses in the end.
Lawyers make more than document review and edits during business transactions. They do things like:
Having seasoned and experienced legal advice like August Law guiding your business transactions means more than someone reviewing the contracts. You’re getting strategic advisors who understand both the law and the business end of a deal. These advisors see potential issues that could derail your entire transaction before it happens.
And it doesn’t stop there…
As technology, global expansion, and new regulations advance — business transactions are getting even more complex. What this means is that every year more legal requirements and considerations are being added to every deal. New regulations, international deals, tech integrations — all these create additional complications for transactions that didn’t exist even just five years ago.
Allow me to share with you…
Almost 90% of business transaction malpractice claims involve attorneys with little transactional work experience. What does that tell you?
Lawyers need specialization.
Imagine someone who is not a lawyer trying to get legal advice. The risks are high. When you multiply that risk by more than double and there is little to no experience, well you get the picture.
By not having legal representation, or at least knowledgeable legal assistance to guide you in a business transaction — these are the worst-case scenarios you will face:
Business owners might think they’re saving money by foregoing legal counsel — but it’s like forgoing car insurance to save a few bucks. Everything looks hunky-dory until something happens.
Legal Services Market Global Revenue and Financial Forecasts from 2022 to 2034
This phenomenal growth isn’t a coincidence. With how complex business transactions are today, and only getting more complex with each new regulation — business owners are starting to realize that they need expert legal guidance.
Smart business owners know this…
Legal expertise that’s hired upfront to help with business transactions cost a fraction of what will be needed to fix issues down the road. Many times, the right attorney can actually save you money by:
I know you’re thinking…
What does a transaction lawyer do that makes such a difference?
Good question, let me answer it for you.
Lawyers really shine in this area.
They search through everything and anything — financial records, contracts, legal and binding obligations, potential liabilities, you name it. It’s a chore, but so important. The proper due diligence process brings to light issues that could derail the entire deal, or at least warrant a renegotiated price.
But here’s the good part…
Seasoned transactional attorneys know what they are looking for. They know every trick in the book and every hidden landmine. They’ve seen it all before and they can quickly spot red flags that you would never see on your own.
74% of attorneys believe young transactional lawyers lack proficiency in drafting legally suiting contracts.
I hope you’re concerned after seeing that.
If attorneys who practice this believe that 74% of lawyers are not good enough at it — what chance does the regular Joe have? Contract is the lifeblood of every business transaction. Draft a contract poorly and you’ve built on sand.
Professional lawyers do more than just write up contracts — they:
Got regulations? Every industry does, and some industries have hundreds.
Transactional lawyers make sure your deal is in compliance with all relevant laws and regulations. This includes securities laws, tax regulations, industry-specific requirements, international trade laws (if applicable).
Miss one small regulatory requirement and your entire transaction could be invalidated. Or maybe even worse — face criminal fines and penalties.
The best transaction lawyers are creative problem solvers.
If obstacles arise during the negotiations, they seek solutions that everyone is happy with. They know how to creatively structure a deal to minimize taxes, protect assets, and satisfy all parties involved.
This is not something you can Google.
Lawyers are not all the same.
Finding a legal partner that fits the type of business transactions you’re doing takes a bit of work on your end. You need someone who:
Is Transactional Lawyer Specialized. A general practice attorney might be a great lawyer, but business transactions require speciality. Look for lawyers who focus their practice on mergers and acquisitions, commercial transactions, corporate law, etc.
Knows your industry. Every industry has different challenges. A lawyer who is familiar with your industry will notice key issues specific to your business.
Communicates well. Let’s face it — legal jargon is confusing. You need a lawyer who is able to explain complex terms in plain English, as well as keep you informed the entire process.
Has a great track record. Don’t be afraid to ask about their experience in the area you are needing legal assistance. How many deals have they successfully closed? What was the outcome?
Matches your budget. Good legal work is not cheap, but it should also be transparent. Make sure to discuss fees upfront and make sure you fully understand the billing process.
A great lawyer becomes more than a hired hand. They are a trusted advisor that you can turn to when seeking advice on how to make better business decisions — not just during the transaction, but throughout your company’s lifecycle.
Business transactions represent some of the most important decisions you’ll make as a business owner.
Whether you’re buying your first business, selling after years of building equity, or merging with a competitor — the stakes are always high.
Expert legal guidance is not a nice-to-have. It is essential.
The complexity of today’s business transactions, with ever changing regulations and the rising risks of getting it wrong, means you absolutely cannot go it alone. Lawyers who specialize in transactional work bring decades of experience from hundreds of previous deals, keep current with changing laws and regulations, have negotiating skills that will protect your interests, and have strategic thinking to create the best overall value.
Don’t wait until issues arise to seek legal help. By then, it’s often too late.
Seek out a trusted legal partner before you need them.
That way, when opportunity knocks, or challenges arise, you’ll be ready to handle it with expert guidance at your side. Your business deserves no less.
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