Why is it important to know the nature of a buyer and seller in business/corporate transactions?

New Jersey business transactions attorney, Harold I. Steinbach, shares how every deal and business is different. Knowing which questions to ask your client is key.

Contact Harold I. Steinbach

Email: [email protected]

Phone: (201) 525-1990

Transcript:

Just like people, every deal is unique; every business is unique, so on either side you really need to spend a lot of time in the beginning interviewing your clients. What’s important in this business? Is it the hard assets? Is it the customers? Is it intellectual property? What are the key contracts? What’s transferable? Who are the key employees? And in everyone, you’re going to get different permutations of what’s important and what’s not. And you’re going to need to know what takes lead-time, where do we need other parties approvals whether government or whether contract partners or shareholders. We really need to understand the big picture before we go ahead so it’s a big combination of being able to see the forest and knowing the details. But you can’t just run off blind you need to know what you’re getting into.