Michael Girdley (@Girdley) and Mills Snell (@thegeneralmills) are joined by Eric Pacifici (@SMB_Attorney), to talk about all things legal:M&A legal documentation, what an attorney does, the different legal aspects between small and big deals, litigation, indemnification, intervening when the lawyers slow down your deal, buyer & seller best practices on deals, negotiation leverages, and MUCH more.-----Thanks to our sponsors!* CloudBookkeeping offers adaptable solutions to businesses that want to focus on growth with a “client service first” approach. They offer a full suite of accounting services, including sophisticated reporting, QuickBooks software solutions, and full-service payroll options.-----* Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.* Do you enjoy our content? Rate our show!* Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.-----Show Notes:(00:00) - Introduction to legal secrets you need to know for SMB M&A(00:50) - Our sponsor is Cloudbookkeeping.com(02:15) - SMB Attorney has Come Out of the Closet!(05:46) - How Do You Find An Attorney?(11:36) - What is Indemnity and the Mechanics Around It?(21:00) - What is a realistic amount of time budgeted for legal documentation?(23:53) - How can you keep your deal on time when an assessor slows you down?(27:00) - How can you keep the other parties’ lawyers on time to avoid a deal from breaking down?(36:06) - What is the role of the lawyer in the deal?(38:55) - Who should prepare legal documents? Buyer, seller? How does that play in the evolution of the deal?(43:02) - Big Firms vs small firm tradeoff: What’s to note?(48:04) - Money, fees & fee structure: Explained(54:10) - What usually prevents litigation?-----Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.-----Additional episodes you might enjoy:#98 Insurance Broker Secrets for Business Buying - Tom Gilroy - Acquisitions Anonymous Episode 98#96 From W-2 to Business Owner - Patrick Dichter tells us how to cold reach seller and we discuss 2 Deals#92 Wait... what? You laid-off 90% of your staff?!? - Pete Erickson joined us for an exciting WarStories episode! #79 What do Investors want? - Dig into an investor’s mind with Bradford Hardin#75 SBA Loan Secrets with Heather Endresen, expertise from a Billion-Dollar Loaner