Resources

A Tale of (more than) Two Law Firms

In M&A deals, the buyer and the selling company both have legal counsel representing their respective interests, but what about the shareholders? During the deal, the selling company and the shareholders may seem like one and the same, but after closing the selling company is subsumed by the buyer. Furthermore, while some shareholders (namely, investors) fight for merger proceeds, management of the selling company may have conflicting interests, such as the salaries and incentive plans set up by the buyer as their new employer. read more

Every Exit Begins with an Entrepreneur

For private companies, M&A transactions currently represent the vast majority of exits. While IPOs remain scarce, the venture model has embraced the acquisition as the predominant path to liquidity. read more

Why Your Governing Documents May Not Work

A lot of venture firms have been disappointed recently to discover that their portfolio company charters don’t work as well as they would have hoped especially in terms of exits. Problems arise when the merger includes escrow, holdback, and earn-out provisions and liquidation preferences are not fully met by closing proceeds. read more

• Just Whose Lawyer Are You?
• When Buyers Get Free Money
• The Key to Maximizing Fund Performance