Murphy’s Law – an old adage typically restated as “anything that can go wrong will go wrong”. The origin of the phrase has been attributed to aerospace engineer Edward Murphy, who according to certain reports, made a statement similar to the Murphy’s Law adage when his devices failed to perform. Whatever the origin, Murphy’s Law rears its head in mergers and acquisitions. However, the application of Murphy’s Law to a business transaction can be avoided or minimized. Here are a few steps to accomplish that:
- Prepare and plan prior to commencing negotiations with the other side;
- Prepare and plan with the other side after agreeing in principal;
- Notify state government authorities who are required to be notified of a transaction, well ahead of the time required by statute;
- Use a data room to allow for the easy and clear transmission of due diligence information
- Contact lienholders and landlords whose consents are needed well enough before closing so that they have time to react.
The above steps are but some of the actions that should be taken to avoid Murphy’s Law rearing its head in your transaction.
If you have any questions about this or any other M&A issue,
please contact Glenn Solomon at firstname.lastname@example.org or 443-738-1522.
ABOUT GLENN D. SOLOMON
email@example.com | 443-738-1522
Glenn D. Solomon is a principal at Offit Kurman and has provided counsel to businesses and business owners for more than twenty-five years. He has extensive experience in the purchase and sale of businesses, structuring ownership agreements, and advising companies in financial distress.
ABOUT OFFIT KURMAN
Offit Kurman is one of the fastest-growing, full-service law firms in the mid-Atlantic region. With over 185 attorneys offering a comprehensive range of services in virtually every legal category, the firm is well positioned to meet the needs of dynamic businesses and the people who own and operate them. Our twelve offices serve individual and corporate clients along the I95 corridor in the Virginia, Washington, DC, Maryland, Delaware, Pennsylvania, New Jersey, and New York City regions. At Offit Kurman, we are our clients’ most trusted legal advisors, professionals who help maximize and protect business value and personal wealth. In every interaction, we consistently maintain our clients’ confidence by remaining focused on furthering their objectives and achieving their goals in an efficient manner. Trust, knowledge, confidence—in a partner, that’s perfect.
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