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I want to tell you about our audience survey we are currently running. These surveys help us create the best content for listeners and better understand your needs and interests. Thank you in advance for sharing your feedback, we greatly appreciate it. After 30 days we are giving $250 cash to 4 survey responders, just add your email at the end of the survey.\nTake the survey here: https://bit.ly/3QLBB1N\n\nEp.187: Alex (@aebridgeman) is joined by Scott Alderman (@Scott-Alderman) and Alex Temel (@AlexanderTemel).\nToday\u2019s episode is the fifth in our Launch Series, in partnership with Trilogy Search Partners and Pacific Lake Partners. This discussion focuses on the deal structuring and legal diligence process in a search acquisition, and I\u2019m joined by Scott Alderman, partner at Trilogy, and Alex Temel, partner at law firm Sidley Austin, for the conversation.\nDuring the episode we cover the key steps in the legal process, timeline, how to mitigate risk, working with sellers, staging, reps and warranties, and much more. We broke the conversation into the key stages of a deal and special considerations to make along the way and ended with advice for entrepreneurs when working with legal counsel.\nFinally, if you haven\u2019t already, be sure to listen to our four previous episodes on industry research, starting a search, the diligence process, and working with sellers.\nListen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn.\xa0\nLearn more about Alex and Think Like an Owner at https://tlaopodcast.com/\n\nLinks:\nScott on LinkedIn\nAlex on LinkedIn\nSidley Austin LLP\nTrilogy Search Partners\nPacific Lake Partners\nLaunch Ep #1\nLaunch Ep #2\nLaunch Ep #3\nLaunch Ep #4\n\nTopics:\n(00:05:01) LOIs: Key components and legal timelines\n(00:16:36) Pitfalls in Pre-LOI Due Diligence\n(00:20:09) What happens between the LOI and drafting a purchase agreement\n(00:22:49) Ways to reduce risk in the legal process\n(00:26:35)\xa0How to avoid conflict between parties\n(00:32:57) Reps, warranties, and covenants\n(00:38:58) Where to hold your ground and where to make compromises\n(00:40:52) Economic drivers of a business\n(00:43:10) Most frequent deal-killers\n(00:45:27) Adjusting processes and cadences based on the experience of the seller and their advisors\n(00:49:59) Helpful advice for entrepreneurs working with attorneys