Some business owners never plan for a liquidity event. But many private companies, whether self-funded or venture-backed, want to be prepared in the event that a unique M&A opportunity, or the opportunity to go public, presents itself.

When we talk about preparing for a winning exit, we mean positioning the company so you obtain the highest possible value for your equity in a sale of the business or public stock offering.  Exit doesn't necessarily mean relinquishing your control or retiring.  It means getting a return on your substantial investment of cash, time, energy and imagination.

There are numerous law firms all over the country with teams of M&A and securities lawyers, ready to step in when a deal is imminent and handle the legal work. But very few of those firms will offer a dedicated attorney with over 25 years' experience to help you prepare for the process and manage the deal from the inside-of-the-company-out.  We urge clients to start preparing for a winning liquidity event long before they know when the deal may happen or what form the deal may take. Early planning positions you to maximize your enterprise value when it counts.

Some of the key initiatives to prepare for a successful liquidity event include:

  • Creating and maintaining contracts consistent with your business model and risk tolerance
  • Capturing essential business data to validate your successes
  • Testing your compliance with local tax, employment and other regulations wherever you operate
  • Developing best-in-class governance practices consistent with your stage of growth
  • Simplifying your capital structure as much as possible
  • Securing the rights and assets you need to defend your competitive advantages
  • Reinforcing good communications practices to protect your reputation
  • Setting your employment and compensation policies to retain and develop key talent
  • Keeping good records (which does not mean keeping everything)

When a sale or IPO opportunity presents itself, you will want someone working closely with your team on a day-to-day basis, who has experience managing such events from the inside of a company. Our tasks at that stage may include:

  • Assisting with selection of bankers and other professionals
  • Assisting with management presentations
  • Managing due diligence
  • Negotiating deal terms, commitments, definitive agreements
  • Drafting offering and disclosure documents
  • Negotiating escrow terms
  • Helping with recapitalizations, valuations, option pricing, new equity plans
  • Internal communications and employee training
  • Board communications and corporate formalities such as resolutions and consents
  • Addressing concerns about contracts, liens, non-compete or anti-assignment clauses, intellectual property, claims, reserves, people

Whether you think you are off to a good start, or don't know where to start, we can help you with any of these important, proactive steps.  Contact us to discuss your needs.

You're aiming for a sale or IPO -

get positioned for a winning exit.

The law practice of GHirsch LLC

(​917) 623-3158

Attorney & Principal


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