John Gliedman has an article in the May issue of Darwin Magazine called “First, Use All the Lawyers,” that offers a good checklist of ways to use lawyers effectively in IT transactions.
His conclusion, which I heartily agree with, is:
“If you include your lawyer as an advisor to the business team early on, you can make sure that your deal starts off on a sound footing and that you are comfortable with the process that lies ahead.”
Bringing in your lawyer late in the deal almost always results in higher legal costs.
Gliedman sets out four key areas in which lawyers can help th deal process:
1. The well-utilized lawyer can ask you strategic questions and help you achieve your goals.
2. The well-utilized business lawyer can give you process-related advice to help you get from Point A to Point B.
3. The well-utilized business lawyer works as part of the negotiating team.
4. The well-utilized business lawyer can document your intentions clearly.
The article is the latest in a series of excellent columns that run under the heading of “Legally Speaking” on Darwin.com.