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Practical Advice for an Efficient Transaction Process

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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Dueling NDAs with Virtual Data Rooms

Managing Confidentiality Obligations When Using a Virtual Data Room The traditional beginning of a transaction or confidential project is the signing of a Nondisclosure Agreement (NDA).  No one wants to start a promising transaction or relationship with an acrimonious negotiation of a NDA, but most people accept that a NDA is necessary and want to get…
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Transaction Commons Receives Its Third Patent on Transaction Process Efficiency Advances

Transaction Commons, a cloud-based solution for the exchange and organization of transaction and project documents and information, is pleased to announce the issuance of its third patent, US Patent No. 9,552,340.   Reflecting another of Transaction Commons’ innovative approaches to transaction and project document and information management, this invention streamlines document negotiation by allowing users to…
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Transaction Process Governance – Part 2

In Transaction Process Governance – Part 1 we shared some thoughts on how to manage the due diligence process in a business transaction.  Part 2 will focus on implementing a control structure for transaction document negotiation. Key transaction document negotiation process steps to be defined include:  Who reviews the transaction document drafts? Where and how…
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