Corporate law: More than just business
- By : Wong Mei Ying
- Category : Lawyering, Linkedin Post, Mergers and Acquisitions
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I decided early in my career that I would not go into practice areas which are more “personal”.
Corporate laws seemed to be a more neutral choice.
I probably got this wrong.
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One of the transactions I was involved in gave me a different insight. The vendors sold their family business, which is a well-known brand, to another company which is a household name. Although there were higher offers in the past, the vendors waited until they found a buyer which they felt was a good fit for their business. The purchaser and vendors were collaborative and wanted a fair deal for both parties. The vendors were present with their family members at the signing of the SPA. Tears were shed and it was a touching moment.
A signature on the dotted line on the sale and purchase agreement may represent the seller’s lifetime work and something of sentimental value to his/her family. It may represent a start of something exciting for the buyer.
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As part of legal due diligence, it is common to make recommendations in legal due diligence reports to rectify issues discovered during legal due diligence such as to amend employment contracts of target companies to comply with employment laws. While the recommendation is made from a legal perspective, it touches on the employees of the target companies.
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I do not know of any lawyer who likes to extract information from stacks of company searches to draft direct and indirect shareholding in prospectus for IPO until early hours in the morning.
It is often a race against time. We want to help the companies to submit their applications before the deadlines and ensure the prospectus meets the disclosure standard under the laws.
Behind every IPO there is a story of how the promoters built their businesses and the sweat and toil they put in.
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It may be company laws or securities laws or something else, but it still involves people.
It is more than just business.
#malaysiancorporatelawyer
#mergersandacquisitions
#IPOs
This post was first posted on Linkedin on 17 November 2022.