Key Steps In Merging Debt Consolidation Companies And Law Firms

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Bringing two companies together successfully can take a lot of work.  The process is long and tedious with plenty of room for errors.  To get it right the first time and avoid mistakes that could cost the company, there are key steps in the process that should be followed. 

Separate Legal Teams

A rookie mistake when purchasing a business outright or merging two companies is to share the legal fee and choose one representative.  This is a grievous mistake as one representative will have an interest that tends to favor one company over the other.  Choosing separate council can help to insure both companies get what they need from the merger and that they are protected through the process. 

Perform Due Diligence

Both companies and their representatives need to do their homework.  Research into the other company, their sales, their models and policies and even their employees can be a critical part of the process when two companies are forming one.  This step should come with seeking legal counsel or even before.  Choosing to do so before may help you decide you don’t need legal advice as the merger isn't happening. 

Research Merger Models

There are charity merger models and others available that will give you an idea of what to expect.  Taking some time to read through these can help you prepare for what your company is after.  This step in the process can be done anytime but should be reviewed before final paperwork is gone over because it will get you in the right mind frame as well as alert you to any questions you need answered before signing. 

Final Paperwork

When everything has been gone over and the merger is still in the mix you’ll move forward toward signing final paperwork.  This is again where it’s important to have your own legal advisor.  Make sure to carefully go over the paperwork with your advisor so you know what your company is signing on for.