Getting best value from your legal team

By Shahin Akhtar, head of corporate, ‎Curtis Law Solicitors.

Imagine climbing to the top of an enormous mountain. Once you reach the summit, you call your guide to ask if you have packed the right equipment and taken the right route.

Sure, that sounds silly, and of course, everybody knows you should consult a guide before you set off.

And yet so many business owners only call on their legal advisors once they’ve already found who they believe to be their perfect match, sat down to negotiate, and agreed a deal.

It might not be too late to salvage a bad deal at this point, but it would certainly be easier, more efficient and more productive to call in the experts at the beginning.

Your legal team can be a very valuable ally when buying or selling a business.

Armed with experience and knowledge of the deals process, we know which questions to ask, have the ability to spot potential problem areas ahead of time and can effectively evaluate the short and long-term outcomes of a transaction.

Our service includes negotiating exclusivity, heads of terms, the structure of a transaction, deferred consideration and associated security, warranties, commercial agreements, handling of staff, managing third party relationships and property aspects.

And as there’s no one-size-fits-all template, each of these needs to be tailored to suit your own personal situation. Time and money invested in the beginning of a transaction can result in significant savings at the end. Call your advisor at the start of the journey to ensure you get the best value from them, and to maximise your chances of securing the best deal.