{ "media_type": "text", "post_content": "It is common practice at my small firm by two main partners to fly through transactions for clients regardless of potential conflicts (for the company) or issues that may arise. It is often chaotic and has led to lawsuits being filed by investors against the clients. I know this is expected from time to time but I feel like I’m not getting the proper exposure to doing deals the right way. Would it be better at a larger firm or is this common anywhere? Mostly deal with microcap companies.", "post_id": "628277919888a60039a39444", "reply_count": 5, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d052", "bowl_name": "Law", "feed_type": "crowd" }
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It is common practice at my small firm by two main partners to fly through transactions for clients regardless of potential conflicts (for the company) or issues that may arise. It is often chaotic and has led to lawsuits being filed by investors against the clients. I know this is expected from time to time but I feel like I’m not getting the proper exposure to doing deals the right way. Would it be better at a larger firm or is this common anywhere? Mostly deal with microcap companies.

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Yeah...lacking proper conflicts processes is a serious matter.

I'd look elsewhere. It's not hard to get waivers. You just have to do it!

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Less about firm conflicts and more about the company conflicts. Regardless of conflicts, things just don’t seem to get done the “right” way, which makes me feel like I’m not learning how/what I should be to be successful in the future.

You get sued by investors?!?

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If you feel that something is off, there’s a good chance you are right. One option is that you could ask the attorneys you work under why they do things this way. My guess is that you don’t want to ask that for the obvious reasons why. If that’s the case, I think it answers all your questions here. You should probably go somewhere that doesn’t have this kind of environment. I understand that there might be elements of practice that might be surprising to young attorneys, but it’s not a good sign if it isn’t something that can be discussed IMO.

Thanks - I’m fine with finding ways to meander through regulations and laws while staying in compliance with them; however, in this case, maybe not intentionally, deals are not organized and that often leads to mistakes or oversights. Fwiw I’m a much older 3rd year associate so not green to the professional world and law, but I am I experienced with how larger firms do things, having only worked at two boutiques thus far.

I also understand certain lawyers like to be very intentional about every word and others like to gloss over and get the deal done.

I can appreciate both side and believe a balance is best, but I feel like I’m mostly on the side of glossing at this firm and don’t know if that’s standard or common elsewhere.

Additional Posts

Getting offered equity for a startup I help out on the side and I’m not quite sure how to evaluate the offer as this is all new to me.

If they show the % of the company but not shares should I be asking how many shares that translates to?
Any tips on how to evaluate/ negotiate?

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There are 3 kind of people in this world

1. Those that think EOD means 5.00 pm
2. Those that think EOD means 11.59 pm
3. Those that think EOD is before the client start their working say the next morning

😝

funny

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