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What Does a Transactional Lawyer Do?

If you are a corporate owner, officer, or director of an enterprise, you may wonder whether you need a transactional lawyer — and what role they will play in your company. Transactional lawyers, also called business attorneys, help businesses with many types of major transactions, including mergers, acquisitions, and sales. Not to be confused with litigation attorneys, who spend a good deal of time in the courtroom, transactional lawyers also work with companies daily to advise on regulatory matters and help ensure they remain compliant with their legal obligations. Regardless of the size of your business, it’s vital to have a lawyer you can rely on for all your transactional needs. 

What Does a Transactional Lawyer Do Day-to-Day?

Transactional lawyers can be a critical part of your business and help with a broad scope of business activities. Unlike litigation, transactional work does not involve resolving disputes — rather, it largely concerns bringing parties together and working to avoid the conflicts that could arise in connection with a business’s legal issues. When it comes to day-to-day matters, a transactional lawyer typically spends significant time drafting agreements and engaging in negotiations.    

A transactional lawyer can assist with the following day-to-day business matters:

  • Drafting, reviewing, and negotiating contracts
  • Providing legal advice regarding compliance and regulatory issues
  • Conducting due diligence
  • Negotiating and drafting letters of intent
  • Drafting corporate bylaws and internal documents
  • Forming business entities
  • Deal structuring
  • Tax planning
  • Purchasing businesses

In an ever-changing legal landscape, a transactional lawyer can protect your interests, safeguard your assets, and offer crucial guidance on legal matters pertaining to your business. While the work that they will engage in on your behalf will depend on your business needs, a good business lawyer can help you to reduce risk and avoid pitfalls that could impact your business operations and bottom line. 

Major Transactions Handled by Transactional Attorneys

Transactional lawyers represent your company in mergers, acquisitions, sales, and other significant deals involving public or private companies. In these transactions, both sides have an attorney to ensure the process goes smoothly. However, these transactions can not be completed in a few days. Depending on the complexity of the transaction, mergers and acquisitions can take several months to finalize. 

Mergers and acquisitions can involve significant risk and uncertainty. Due diligence must be conducted for a buyer to fully understand the company they have targeted. The buyer will need to know what they are buying, their obligations, and what liabilities they will assume. Sellers must also engage in due diligence to confirm the fair market value of their business. During this phase, a buyer’s attorney will analyze the seller’s corporate records, financial documents, contracts, and other information relevant to the deal. 

A transactional lawyer will guide their client through the due diligence process once a letter of intent has been signed to help ensure they avoid any unnecessary risk before signing the contract. They can also draft confidentiality agreements, structure the deal for tax efficiency, and provide ongoing counsel once the deal has been completed.

Contact an Experienced New York Transactional Lawyer

If you own a business, it’s important to have a diligent transactional lawyer on your side who can advise you regarding both day-to-day and long-term business transactions. Offering reliable representation and knowledgeable counsel, the legal team at Brinen & Associates assists business and corporate owners with a broad scope of transactional matters. Call (212) 330-8151 or send us a message to learn more about how we can assist you.

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