From the course: Mergers & Acquisitions
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Sign purchase agreements
From the course: Mergers & Acquisitions
Sign purchase agreements
- Purchase agreements spell out the terms of the deal, including what assets are being purchased, the purchase price and terms, and provisions related to liabilities, restrictions, and recourse if things aren't as they seem. While plenty of attorneys will be involved in this stage of the process, you as the business leader need to understand all the major elements of this agreement. It's your name on the dotted line. Read the entire agreement, even the boring stuff. If you don't understand a term or a section, ask for clarification. The more deals you do, the more familiar these agreements will become. At one point I was in a strategic planning group. I knew I would be doing a lot of deals. The good news was, we used a standard agreement for the majority of our deals. The bad news was, this agreement was about 42 pages long. I read every line of that agreement. There were things I didn't understand. I sat down with our attorneys and I made them explain it to me. I was the one who was…
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