Parkin Son

Archive for July, 2009

Transactional legal work transcends the mere preparation of documents to set up legal organizations and trusts. Transactional attorneys work on corporate and business transactions as well as counseling business clients on their day-to-day operations and long-term corporate strategies, negotiating and drafting agreements and sometimes helping clients save a business deal that is faltering to stave off the threat of a lawsuit. They provide “preventive legal advice” to minimize the risks of litigation. “Life as a deal maker in most law firms,” wrote lawyer Gregory Feis, “involves practice in one or more of three different (but often related) areas of transactional work.” These areas include: 1) mergers and acquisitions (M&A, to anyone in the trade), and similar fundamental corporate transactions, 2) finance work, including representing banks and borrowers in loan transactions, negotiating real estate mortgages and collateral security packages, and addressing bankruptcy issues, and 3) securities law, including public offerings, private placements, and regulatory compliance. Your attorney should be consulted to give his advice or comment on a host of other asset protection issues such as real estate title questions, financial statements, insurance issues, taxes, licenses, permits, and employment and stockholder agreements. He should review crucial documents and contracts before you sign them. These papers include agreements to assign assets and assume liabilities, bills of sale, promissory notes, security agreements, articles of merger, new employment and non-competition agreements and many more.