Just from a standpoint of company organization, it is not a luxury to have an attorney involved during the process of a merger. If your company can arrange it, it is even better to have an attorney on staff for a couple of reasons. Here are a few to keep in mind.
Institutional Knowledge
One of the things more frequently overlooked than just about anything else when it comes to the process of either building, maintaining or merging and organization is something called institutional knowledge. This is the accumulated information about what your company knows and how it utilizes that data. A staff attorney will know these things automatically. A hired attorney has to be trained in them. From this alone, a massive cost savings can be realized during a merger opportunity even aside from the fact an attorney like Carter West well enough acquainted with your business will be able to advise you on the best merger candidates in advance.
Deal Keys
Like an accountant, an attorney can help company management identify key elements of a merger or acquisition deal. This is especially important when it comes to the often thorny issue of intellectual property. As most companies exploit their property through licensing agreements, an attorney is the only professional qualified to advise you on the ramifications of a series of licensing, equity sharing or revenue sharing deals when it comes to a merger candidates portfolio of valuable copyrights, patents or trademarks. This is something an accountant can’t do on their own.
Employment Contracts
In addition to properties owned, controlled or managed by a merger candidate, there are likely certain employment arrangements you will want to maintain, especially if your new combined company will be strengthened by a team of rock star employees. Again, the only professional who can advise you on the contracts your merger candidate has with its employees is an attorney. While others might be able to explain the financial details, only a lawyer can evaluate the details of an employment contract.
One of the things company managers must always be aware of is the importance of putting the right people in the right jobs. It’s always nice to have a team of professionals available to give you specialized advice when you need it. When it comes to contracts, intellectual property and the legal details of a company’s operations, make sure you have a qualified attorney available to give you the best advice on how to proceed.
