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AIJA Seminar in Krakow: The Art of the Deal, LegalTech in M&A Transactions
2022-09-29 @ 17:00 - 2022-10-01 @ 13:00
AIJA – the International Association of Young Lawyers is a global organization devoted to lawyers and in-house counsel established in 1962 to provide opportunities for young lawyers to network, learn and develop. AIJA currently has 4,000 members and supporters in 90 different countries. The activities of AIJA are coordinated by 20 scientific commissions, in charge of organizing events and keeping members up to the date in their respective areas of practice. The M&A Commission and the Commercial Fraud Commission invited InvestCEE LegalTech Consultancy to join the AIJA seminar discussions and exchange views about using legaltech in M&A projects (share or assets deals).
The AIJA seminar in Kraków will primarily discuss the legal claims and remedies that the buyer and the seller may bring to the table in an M&A deal. Transaction lawyers will have plenty of opportunity to exchange best practices in negotiation and drafting M&A contract clauses, post-closing dispute experiences, litigation and arbitration proceedings as well as interim protective measures. The commercial fraud panellists will share best practices for investigations during the due diligence audit. Our legaltech consulting team is delighted to be part of the AIJA seminar to also discuss:
- how innovative legaltech tools influence the M&A practice, and
- challenges related to the creation and use of legaltech, not only for due diligence purposes.
Tech-enabled M&A Transaction Process
In addition to carefully crafted deal documentation, team coordination + project management + smart technology are integral to an effective transaction process and successful post-deal integration. At the AIJA seminar, we will share our approach to using legaltech in transaction context and optimizing workstreams for legal and business teams. Here’s an outline of how we see the role of innovative technology in M&A deals. Ideally, legaltech should be used by capable teams to:
- Define and implement deal playbook or game plan agreed by the parties >> ensure transparency & clarity of information among all teams
- Manage the scope for document review >> optimize data extraction
- Facilitate post-deal integration goals >> make sure initial document review aligns with post-deal integration
- Optimize the document and task flow:
- NDA, information memorandum – enable M&A advisors to manage distributions & responses
- Bids – enable M&A advisors to manage & evaluate bids
- Deal documentation – all documents and versions managed on the platform, secure and organized online workspace, updated real-time, redline version control on platform
- Closing checklist & closing binders – quick and efficient overview of outstanding tasks
- Simplified signature processes – e-signatures, signature tracking
- Facilitate knowledge management:
- Create clause libraries, document templates, multi-language documents
- Provide lawyers and/or contract managers insights and guidance on negotiating positions, including fallback positions with
recommended text to use
- Share business user guides – intended for the business teams to handle negotiations on certain contract provisions, or guidance on handling whole contract templates by providing very specific language to be used as alternatives;
- Share step-plans and procedure guides – setting out the detailed workflow so that everyone (business and legal) is on the same page about how to use contract clauses/templates, how to access negotiation support or send for signature and how to store executed contracts.
ADDITIONAL INSPIRATION +++
Curious to approach transaction workstreams from an artificial intelligence (AI) perspective? Read our practical Legal AI Handbook for detailed insights about AI-assisted legal operations.
For balancing the costs and benefits of investing in smart technology solutions, our methodology of LegalTech ROI calculations may prove helpful.
Optimizing legal work with technology is often the first step toward a data-driven approach to legal services. We previously shared our insights on how data analytics is relevant for lawyers. We had also looked at global studies about data-driven legal departments in corporations. Our publicly available webinar recordings about using data to connect the legal function with business needs are also available HERE.