Recently Dilanchian assisted a booming online software company in a potential sale of business for an eight figure sum.
The project confirmed why we are lawyers and consultants; and underlined the wisdom of calling at your project’s concept stage.
As is often the case, our client’s call to me was triggered by a perceived need for a business sale contract. Fortunately there had only been preliminary discussions between the parties.
Our client had not yet discussed its sale price with the established overseas buyer. It sought advice on how to achieve or maximise its sale price. Our client did not realise the benefits of training in effective communications for this type of sales negotiation.
We immediately supplied a project management package of items, including a detailed table of tasks.
We engaged Chris Gilbey to deal with the critical money issue. Chris is a highly experienced IT business executive who has sold many companies. He played the role of the buyer, listened to the client’s sales pitch, advised it was doomed and explained why. Convinced, the client took on a new script and training in role play rehearsals face to face and via Skype (as the sale negotiations also used Skype).
Ai Ling, our firm’s in-house accountant prepared a financial forecast for 2011-13 to financially document and manage our client’s vision. Meanwhile, for strategy guidance, we prepared plans for our client to either sell, seek venture funding, or continue business as usual.
All the above and more was done in seven days. Now that our client realised what “sale” really involved if it was to achieve its target price, it decided to continue with organic growth and not sell its business.
Lessons? The above case study illustrates, once again, that the practice of intellectual property, IT and business law is about legal documents and process, but it is as much about proper business process, projects, proposals and pitching. The graphic illustrates this.
Call too late and it can be difficult to avoid your case becoming a war story (we’ve had them too in recent months). Call at the concept or pre-pitch stage and you’ll generally get much more value out of what we can do together.
Please, call early, and be another success story. We welcome your call.
Contact us with any questions or requests.