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Practical Advice for an Efficient Transaction Process

Apples versus Oranges: “Finding the Deal” versus “Closing the Deal”

There is a lot of excitement around the application of technology to transactions ranging from consumer loans, angel investing, commercial real estate, and business M&A transactions.  Many of these transaction platforms are designed to serve as an intermediary between the transaction parties.  The focus is on finding the deal by matching up potential transaction participants.…
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The Cornerstone of an Efficient Transaction

A “cornerstone” is a stone uniting two masonry walls at an intersection.  If we’re talking about a business deal, there are two main parties and the “transaction” is where they intersect.   How effectively and efficiently they intersect is the question.  Depending on the transaction, there may or may not be a future relationship between the parties.  In any case, they must work…
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Walk Before You Run: Transaction Efficiency Before Blockchain

For years there has been interest in streamlined transactions through electronic document signing, e-closings, and completely paperless transaction processes.   The act of physically signing a document has been cast as antiquated and wasteful.  Now the interest in this topic has accelerated with frequent media attention to broad applications of blockchain technology and its potential place…
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Efficiency for Year-End Internal Transactions

With 2019 only a few months away, efficiency is especially important for year-end transactions designed to implement tax and business planning strategies. Efficiency is dependent on effective document and information management and organization, and while these transactions may be “internal” (because there is not a truly “adverse” party as there is in an acquisition, sale,…
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Efficient Due Diligence

The nondisclosure agreement has been signed, a high-level letter of intent is in place, and the transaction parties are ready to begin active and thorough due diligence.   Some initial planning and communication will help make the process efficient and effective. There are several obstacles to efficiency that should be anticipated.   The team members providing due…
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An Efficient Start to an Efficient M&A Transaction

The beginning of each potential transaction affords an opportunity to start off with efficiency and organization.   That opportunity arises with two documents:  the confidentiality agreement or nondisclosure agreement (NDA) and the letter of intent or term sheet. These two documents serve different purposes and have different legal effects, but how they are approached, negotiated, and…
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Transaction Document Management: Convenience vs Security . . . or Both?

A decision that must be made early in the transaction process is how to apply information security practices to transaction communications.  There are a range of options, and in perception (and often in reality) there is a continuum of trade-offs between convenience and security. It is critical that security protocols are openly addressed and consistently…
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In Search of Transaction Efficiency

In previous articles we have discussed transaction process governance – the definition and application of rules that apply to the handling of information and documents during the due diligence and agreement negotiation phases of the transaction process. Transaction process governance is one component of the larger objective of Transaction Efficiency. This article will look more broadly…
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One-Sided Solutions Don’t Make Transactions More Efficient

Technology has brought many benefits to business relationships and transactions.    The ability to share documents electronically has improved the efficiency of document collaboration within a team.  But that efficiency may evaporate when multiple (often “opposing”) parties are involved. Technology-based collaboration tools are almost always implemented with one party in control.    Examples would be a seller…
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