Starting Right: M&A Preliminary Due Diligence When making an acquisition, it’s important to perform preliminary due diligence as a buyer before making an offer or submitting an LOI. To start: Request financial statements, including corporate tax returns, for at least 3-5 years. Observe trends in cash flow, profit, expenses, and debt load, for example. Does the…
Leadership Consulting: Why it’s the best investment for yourself and for your team.
As a leader, you are responsible for the vision and direction of your team. The higher your position, the more responsibility you have, and your leadership needs to meet the needs of your team and organization. Your leadership effectiveness is determined by the context in which you operate. For example, the CEO of Delta Airlines,…
Honored to Help Foster UT Austin Football Player Development – Go Longhorns!
This week, I was invited by Kevin Washington, Director of Player Development, to go talk to the University of Texas at Austin football team about what it takes to get a business successfully off the ground. This was part of UT’s commitment to exposing athletes to opportunities outside of sports and giving them the tools…
When does your startup business need a lawyer?
Entrepreneurs are adept at wearing many hats in their business, which can be a competitive advantage. However, this strength can become a weakness when you wait too long to bring in specialized assistance, which is certainly true when considering hiring a lawyer. But when is the right time?
3 Advantages of Having an Outside General Counsel
Many small and middle market companies may not have a General Counsel. Here are the advantages to having an outside general counsel on a fractional basis. 1. You will save money in the long run because you often spend 10 times or more what you save now.We have seen it time and time again. A…
Utilizing an Outsourced General Counsel: Bring Them In Early
We have a number of clients who call upon our firm as an outsourced general counsel. Typically an engagement begins on a project basis, and as we begin to learn more of the client’s business, we are brought in on more and more aspects of the business. What we find is that the earlier we…
Pitfalls of High Net-Worth Advisors
Building and guarding client assets is more than a full-time job for family offices, agents, consultants, and other financial advisers. It is key for them when advising clients to avoid these pitfalls: Allowing clients to invest in projects without proper due diligence:Film, restaurants, product development, and other ventures are a sample of opportunities that become…
Steps to Forming a Multi-Member LLC
We work with a number of entrepreneurs, companies, and visionaries. The goals and needs are different for each one of them. Yet there are a series of steps to take when forming a multi-member LLC: Step 1 Choosing the Right Entity Below is link to a short article that explains the different types of entities….
M&A Update: Rise of “Social Due Diligence” and the “Weinstein Clause”
In the midst of a flury of M&A activity, Bloomberg is reporting that buyers are requesting additional language in the representation and warranty provisions of company purchases to protect from the headline risk and drop in value of companies associated with sexual misconduct allegations. This provision is being termed the “Weinstein Clause.” How should you…
Negotiating the Sale of Your Company-Introduction to Earn-outs
You have put years of hard work, including restless nights, into your company. And now you have an offer to purchase your company (perhaps from an international corporation with operations here in US, or a US based company looking to expand their portfolio). You have been negotiating on price with the buyer and seem to…
1
2