How To Select An Attorney For Selling Your Business

How To Select An Attorney For Selling Your Business

Youtube link – The LOI has been accepted, the due diligence is complete and now comes the contract phase, which involves an attorney.  So how do you select an attorney for selling your business?  

In our experience selecting the right attorney makes or breaks the deal.  We have seen closings getting prolonged or not happen because the attorneys were inept in M&A industry.  When interviewing attorneys, you should ask if that attorney has completed transaction in the range of your selling price, is the attorney familiar with the industry that you are in.  

You also want to make sure that the attorney that you are interviewing is the attorney who will be working on the contract, if there are others who will be involved in the contract or closing you want to know this information in advance so that you can make an informed decision.  

Ask how many deals are they currently working on to make sure that your deal will get the appropriate attention.  Ask them for examples of their previous deals where they created a win-win situation and how they approach the art of the deal making. 

Make sure that there is chemistry between you and the attorney.  And lastly you want to reference check all of their previous clients and ask them the same sort of questions that you asked the attorney. These are just few of the checks you should do when selecting an attorney for selling your business.

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