Legal secrets you need to know for SMB M&A with @SMB_Attorney_Acquisitions Anonymous Episode 99

If you liked this episode, subscribe to our weekly newsletter and receive new episodes, offers and learnings directly to your inbox, every week:https://landing-newsletter.acquanon.com/-----Michael Girdley (@Girdley) and Mills Snell (@thegeneralmills) are joined by Eric Pacifici (@SMB_Attorney), to talk about all things legal:M&A legal documentation, what an attorney does, the different legal aspects between small and big deals, litigation, indemnification, intervening when the lawyers slow down your deal, buyer & seller best practices on deals, negotiation leverages, and MUCH more.-----Thanks to our sponsors!* CloudBookkeeping offers adaptable solutions to businesses that want to focus on growth with a “client service first” approach. They offer a full suite of accounting services, including sophisticated reporting, QuickBooks software solutions, and full-service payroll options.-----* Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.* Do you enjoy our content? Rate our show!* Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.-----Show Notes:(00:00) - Introduction to legal secrets you need to know for SMB M&A(00:50) - Our sponsor is Cloudbookkeeping.com(02:15) - SMB Attorney has Come Out of the Closet!(05:46) - How Do You Find An Attorney?(11:36) - What is Indemnity and the Mechanics Around It?(21:00) - What is a realistic amount of time budgeted for legal documentation?(23:53) - How can you keep your deal on time when an assessor slows you down?(27:00) - How can you keep the other parties’ lawyers on time to avoid a deal from breaking down?(36:06) - What is the role of the lawyer in the deal?(38:55) - Who should prepare legal documents? Buyer, seller? How does that play in the evolution of the deal?(43:02) - Big Firms vs small firm tradeoff: What’s to note?(48:04) - Money, fees & fee structure: Explained(54:10) - What usually prevents litigation?-----Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.-----Additional episodes you might enjoy:#98 Insurance Broker Secrets for Business Buying - Tom Gilroy - Acquisitions Anonymous Episode 98#96 From W-2 to Business Owner - Patrick Dichter tells us how to cold reach seller and we discuss 2 Deals#92 Wait... what? You laid-off 90% of your staff?!? - Pete Erickson joined us for an exciting WarStories episode!#75 SBA Loan Secrets with Heather Endresen, expertise from a Billion-Dollar LoanerSubscribe to  weekly our Newsletter and get curated deals in your inboxAdvertise with us by clicking hereDo you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.Do you enjoy our content? Rate our show!Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.For inquiries or suggestions, email us at [email protected]