What is commercial due diligence? Commercial due diligence is the process of inspecting the business you are buying. It’s similar to buying a house —you do an inspection before purchasing the house. The objective of due diligence is to have a full understanding of the target company’s liabilities and strengths, in order to be aware …
An M&A lawyer is in charge of setting all the pieces of the merger or acquisition together. She in the middle of the conversation between both parties and their respective advisors. The M&A attorney is the one leading the transaction, as she is the point of contact that reunites the rest of the deal team …
Why is it important not to skip due diligence I get a lot of clients who have problems after they bought a business. Unfortunately, many of the problems were avoidable, but the biggest mistake we have seen by buyers — particularly when the buyer bought the business without an attorney — is skipping the due …
Why due diligence is important in an M&A transaction? Read More »
What is Due Diligence? Due diligence is the process of examining the business details and data when buying a business. It’s similar to inspecting a home before closing on the house. A buyer will want to check, to name a few things, the financial health of the company, the quality of the standard operating procedures, …
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What is an LOI? We get a lot of people and business owners coming to our office asking if they should sign a “letter of intent”. Many people and business owners mistakenly think they can sign the letter of intent (LOI) without any risk. Because LOIs are meant to be not binding, it is easy …
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Before we get ahead of ourselves, let’s start off by saying contract loopholes don’t exist. When people talk to a lawyer about “loopholes,” they’re usually talking about an obligation that they want to get out of without being sued for breach of contract. People use the word “loophole” to signify that if there’s enough room …
Illinois business and contract law attorney Danya Shakfeh explains how to assess risk in a business transaction. She explains key terms you should review in a contract including covenants (promises), warranties, and liability capping. (Video length: 3 minutes, 58 seconds)
If you have an entrepreneurial spirit, you may have dreamt of being your own boss someday or building a company from the ground up. Starting your own company or going into business with a partner is a major endeavor, not to be taken lightly. In a business partnership, you and your partner can split the profits any …
For any business owner, it is imperative that all agreements related to the company are put in writing in order to protect his or her rights and interests. However, business contracts are important for outlining the expectations of the parties on all sides, whether a business, vendor, or employee. In simple terms, a contract is a legal document that …
What Is Involved in the Business Contract Review Process? Read More »