Best Due Diligence Lawyers in New York

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Davies & Associates, LLC
New York, United States

Founded in 2020
100 people in their team
Afrikaans
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Xhosa
Davies & Associates ("D&A") has grown to become the largest global law firm specializing in US, UK and Italian business and investment immigration together with Citizenship and Residency by Investment (together, “CBI”).  Our lawyers are regarded as the leaders in the US E2...
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Dorsey & Whitney LLP
New York, United States

Founded in 1912
1,390 people in their team
English
worldwide advantageYOUR BUSINESS REQUIRES AN ADVANTAGE, AN EDGE, TO SUCCEED IN A HIGHLY COMPETITIVE WORLD.Dorsey’s lawyers and staff can help you gain that edge by applying superb legal knowledge and skills with practical wisdom and a deep understanding of your business and industry.We serve...
Jones Day
New York, United States

Founded in 1893
2,500 people in their team
English
Jones Day has a history of more than 125 years and a culture of client service and professionalism based on explicit shared values. These values include providing pro bono legal services, building diversity in our profession, and supporting outreach efforts around the world.Jones Day has a long...
Greenberg Traurig, LLP.
New York, United States

Founded in 1967
2,300 people in their team
English
Five decades ago, while at lunch in a South Florida deli, attorneys Larry J. Hoffman, Mel Greenberg, and Robert Traurig saw an opportunity to establish a new breed of law firm for South Florida; a firm that mirrored a New York style firm. In 1967, they founded the law firm Greenberg Traurig...
Stabit Advocates
New York, United States

Founded in 2000
173 people in their team
English
Spanish
Stabit Advocates LLP (https://www.stabitadvocates.com) is one of the top law firms in the world and stands as a beacon of legal excellence, recognized as one of the top law firms in East Africa, Africa and Globally with over 75 practice areas. Our firm is synonymous with top-tier legal expertise,...

Founded in 1994
1,000 people in their team
English
WilmerHale is a leading, full-service international law firm with 1,000 lawyers located throughout 13 offices in the United States, Europe and Asia. Our lawyers work at the intersection of government, technology and business, and we remain committed to our guiding principles of:providing...
Perkins Coie LLP
New York, United States

Founded in 1912
2,875 people in their team
English
Perkins Coie is a leading international law firm that is known for providing high value, strategic solutions and extraordinary client service on matters vital to our clients' success. With more than 1,200 attorneys in offices across the United States and Asia, we provide a full array of corporate,...
Weil, Gotshal & Manges LLP
New York, United States

Founded in 1931
1,100 people in their team
English
Founded in 1931, Weil has provided legal services to the largest public companies, private equity firms and financial institutions for the past 90 years. Widely recognized by those covering the legal profession, Weil’s lawyers regularly advise clients globally on their most complex Litigation,...
Arnold & Porter Kaye Scholer LLP
New York, United States

Founded in 1946
2,057 people in their team
English
At Arnold & Porter, we are client-driven and industry-focused. Our lawyers practice in more than 40 practice areas across the litigation, regulatory and transactional spectrum to help clients with complex needs stay ahead of the global market, anticipate opportunities and address issues that...
Young Conaway Stargatt & Taylor, LLP.
New York, United States

Founded in 1959
229 people in their team
English
The Delaware legal community works fast and works smart. We have to. Cases come to us from all 50 states, all the time, from companies seeking the sophistication and business-savvy fairness of the Delaware legal system. They need local lawyers who can add value from long experience inside that...
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About Due Diligence Law in New York, United States

Due diligence, commonly encountered in the context of business transactions and real estate, is an investigative process whereby one party thoroughly examines the operations, finances, and legal affairs of another entity before entering into a business agreement. In New York, due diligence is a crucial part of mergers and acquisitions, real estate transactions, and various investment opportunities. It aims to identify potential liabilities, verify real value, and mitigate risks involved in the transaction. The laws governing due diligence in New York are shaped by federal and state statutes, as well as common business practices and case law precedent.

Why You May Need a Lawyer

Several situations could necessitate seeking legal assistance for due diligence in New York:

  • Business Acquisitions: When purchasing a business, legal counsel can help examine the target company’s financial records, contracts, and compliance with the law.
  • Real Estate Transactions: Before buying or leasing property, a lawyer can assist in checking title, zoning laws, and potential environmental issues.
  • Investments: For higher-value investments, a legal expert can review an entity's performance and risks, ensuring that prospective plans align with legal and financial projections.
  • Litigation Risks: Attorneys can evaluate whether the entity is involved in any ongoing litigation or if there is any potential for legal action arising from the transaction.
  • Regulatory Compliance: Ensuring that a business complies with applicable laws and regulations, including securities laws in the case of public companies.

Local Laws Overview

Due diligence in New York is heavily influenced by a mixture of state and federal laws, with some of the most relevant areas being:

  • New York Business Corporation Law: Governs the incorporation, operation, and dissolution of corporations, affecting due diligence by providing frameworks for assessing corporate compliance.
  • Real Property Law: Offers guidance on property-related documentation and transactions essential to real estate due diligence.
  • Securities Acts: Ensure transparency in financial dealings, critical for both acquiring and selling businesses.
  • Environmental Regulations: Particularly important in property transactions to identify potential compliance issues and liabilities.

Frequently Asked Questions

What is the purpose of due diligence?

Due diligence aims to ensure that all material facts regarding a transaction are thoroughly vetted, minimizing risks and preventing unforeseen liabilities.

How long does due diligence take in New York?

The duration of the due diligence process depends on the complexity of the transaction, but typically ranges from a few weeks to several months.

Can due diligence affect the purchase price of a transaction?

Yes, due diligence can reveal factors that significantly influence the negotiated purchase price or even void the transaction if substantial issues are uncovered.

What are the main areas of focus in due diligence?

Key areas include financial performance, legal compliance, operational systems, human resources, and potential liabilities.

Is due diligence mandatory by law?

While not legally mandated, due diligence is a standard business practice that protects parties involved in significant transactions.

What happens if due diligence is not conducted properly?

Failure to perform effective due diligence can lead to significant financial losses, legal liabilities, and reputational damage.

Are there any penalties for not performing due diligence?

While not conducting due diligence is not a penal offense, it can lead to severe financial and legal repercussions due to overlooked liabilities.

Can due diligence be conducted remotely?

Yes, many aspects of due diligence can be conducted remotely with modern technology, but some elements may require in-person visits.

Who can perform due diligence?

Due diligence can be performed by an individual or a team of professionals including lawyers, accountants, and industry experts.

How much does it typically cost to conduct due diligence?

Costs vary significantly based on transaction size and complexity, ranging from a few thousand to several hundred thousand dollars.

Additional Resources

There are various resources available for individuals seeking more information about due diligence in New York:

  • New York State Bar Association: Offers resources and referrals to qualified due diligence attorneys.
  • Small Business Administration (SBA): Provides guidelines and resources for conducting due diligence.
  • New York Courts: Access to local laws and case law which may influence due diligence requirements.

Next Steps

If you require legal assistance in due diligence, consider the following steps:

  1. Identify Your Needs: Clearly define the scope and goals of the due diligence process for your particular transaction.
  2. Research Attorneys: Look for lawyers with specialized experience in due diligence relevant to your industry or specific transaction type.
  3. Consult Professionals: Start with a consultation to assess whether they can meet your due diligence needs effectively.
  4. Engage a Legal Team: Hire a qualified attorney or team to ensure all aspects of the due diligence process are conducted thoroughly and efficiently.
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Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.