Crosspost: What would ballpark legal fees representing buyer for a $2 million asset acquisition?

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I agree with the above but would add: the deal size doesn't always correlate to the legal fees. Generally the same work needs to get done if it is a $2M deal or a $10M deal.

That said, our last few $2M to $5M deals were $20k to $50k in fees.

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Not necessarily. I have had big deals cost less and small deals cost more. But if you need a ballpark, it is as good as any.

No more than 5% of the total deal size.

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The number I hear from multiple sources on a simple (that word is key) deal of this size averages to 30k. And that’s at biglaw.

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Asset size doesn’t dictate deal fees at all. It will affect what client will want to pay, but fees are driven by complexity of deal. If it’s a distressed asset workout or complex acqui-hire scenario that’s a lot more expensive than buying $2 million in widgets.

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This. I helped sell a patent for $2M. That was it. Easiest deal ever. I helped sell a 10 year old online real estate SaaS platform for $2M and I wanted to quit the profession of law. So it goes.

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At a small to mid sized firm they’d be looking at 5-15K, assuming all the due diligence work is taken care of by other professionals (accountants, etc)

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