Archive for October, 2009
Behind The Big Law-Firm Curtain: The Good, The Bad, The Uglyby Scott Edward Walker on October 27th, 2009
I’ve been doing deals as a corporate attorney for over 15 years now, including nearly 8 years in the trenches at two big law firms in New York City. Accordingly, I thought it would be helpful for entrepreneurs if I briefly peel back the curtain of the big law firm and explain how these firms work (i.e., the good, the bad, the ugly) so that entrepreneurs can make an informed decision as to whether it makes sense to be working with a big law firm with respect to a particular corporate project. Obviously, some of this is a bit self-serving, but entrepreneurs need to understand that the assumption “the bigger, the better” — i.e., the bigger the law firm, the better the representation — is not necessarily the case. The video version of this post is set forth directly below.
Buying a Distressed Business: Ten Tips For Entrepreneursby Scott Edward Walker on October 19th, 2009
I remember post-“9/11” working at a major law firm in New York City and watching all of the transactions on my plate fall apart. Indeed, then (like now), as credit dried-up, the M&A pendulum swung to the acquisition of distressed (i.e., financially-troubled) companies; however, as I learned first-hand, acquiring a distressed company raises a host of significant risks and potential problems that are not typically found in the acquisition of a healthy, solvent company (which I recently discussed here). Below are ten tips for entrepreneurs who are looking to get into the distressed M&A game. They relate to two different contexts: (i) prior to (or absent) a distressed target’s Chapter 11 filing — i.e., the non-bankruptcy context; and (ii) after a distressed target’s Chapter 11 filing — i.e., the bankruptcy context. (more…)
Buying A Business: Ten Tips For Entrepreneursby Scott Edward Walker on October 6th, 2009
As I have previously noted, I was a corporate attorney for nearly eight years at two major law firms in New York City; and the majority of my work there was spent negotiating and documenting large mergers and acquisitions for multinational corporations, financial institutions and private equity firms. When I moved out here to California in 2005 and started focusing on representing entrepreneurs (which meant predominately middle-market M&A transactions), I was surprised to see how unsophisticated a lot of the players are here; in short, it’s a different environment than New York. Nevertheless, I love living in California, and I am trying to provide to entrepreneurs (via these blog posts) some legal tips and lessons I learned at the big firms in New York City. Below are ten tips for entrepreneurs who are contemplating acquiring a private company. (more…)