Large, multinational corporation sees significant cost savings by working with Lexitas to review agreements for M&A project

Scenario:

Client is a large publicly traded, multinational conglomerate corporation headquartered in the United States. It primarily operates in four areas of business: aerospace, building technologies, performance materials and technologies, and safety and productivity solutions. They are a Fortune 100 company with a global workforce.

Client reached out to Lexitas in need of a team of attorneys to review, and extract data from various agreement types for a M&A project.

Client provided training and oversight of what the project entails.
Client provided on-going guidance to Lexitas resources on project milestones and deliverables to achieve the objectives of the M&A Project.
Client provided access to the system that housed the agreements.
Client provided the secure file transfer protocol to provide access to the files needed to complete the roles and responsibilities of the M&A Project.

Solution:

Lexitas provided a team of licensed attorneys that performed the following roles and responsibilities in connection with a M&A Project anticipated completion date of one year.

Team consisted of:
- 1 Project Manager
- 2 Team Leads
- 12 Attorneys
The Lexitas team categorized agreements by purpose (non-disclosure, engineering, license, guarantee, services, other), by origin.
Categorized agreement articles by purpose / content (preamble, limited use purpose, confidentiality period, governing law, arbitration, etc.).
Copied agreements to new locations in an organized, searchable and trackable fashion, modifying file names to reflect categorization.
Copied articles to new locations in an organized, searchable and trackable fashion, modifying file names to reflect categorization.
Tracked frequency of use / appearance of each article by Agreement type.
Presented to the project Steering Committee organized collections of articles with recommendations for default and (multiple) alternates.
Generated template agreements based on project Steering Committee decisions.
Copied templates and articles (default and alternates) to new storage locations using updated file names
With input from the Steering Committee, generated negotiation roadmaps, by agreement type (non-disclosure, engineering, license, guarantee, services, other) listed default articles, three levels of alternate articles, the rational to consider when moving from default to alternate articles, and the executive approvals required for each level of alternate article.
Reporting was provided to client daily consisting of the agreements that were reviewed each day.

Outcome:

Client was able to recognize a significant cost savings by utilizing Lexitas at rates significantly less than outside counsel. By working with Lexitas, the project was completed by a dedicated team of attorneys, not ones who are working with the firm on various matters. This kept the team focused and on track to meet the project deadlines by following guidelines, working with dedicated team members and project management. They worked directly with the client to ensure questions were answered in a timely manner and had bi-weekly team meetings to ensure a smooth project completion.

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