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People do this literally all the time. I’m a NJ based M&A attorney. There’s a ton of cross-jurisdictional M&A practice. Most transactional attorneys don’t hesitate to do deals in other states. If there is an issue of local law it’s common to talk to local counsel but otherwise it’s not like you’re appearing in court which would obviously be a problem.
Defff. Make the governing law of the agreement NY law and you’re good to go!
Shouldn’t but they do
Yes. All M&A attorneys deal with Delaware 90% of the time and basically no deal lawyers are barred in Delaware.
Coach
Ha! A4. Yeah, no one does this.
Ethically and by the book, no. In practice, yes and I’ve never seen sanctions against it absent malpractice. When I was a young lawyer, this really irked me. Go to any bio for an m&a lawyer at Cravath, and you’ll see 1-2 state licensure’s but deal representation countrywide. They’re not engaging local counsel. In my opinion, if you don’t do this, others will.
Lawyers like rules. Except when they apply to them.
I’m barred in FL and have worked on securities and M&A deals all over (mainly Nevada, Delaware, CA and NY). As said above, mostly doesn’t matter as we still employ local counsel whenever necessary. Otherwise it is mostly federal statutes we are dealing with so I don’t see an issue there.