Facebook’s Mark Zuckerberg reportedly negotiated Facebook’s $1 billion purchase of Instagram with Instagram CEO Kevin Systrom in Zuckerberg’s home, according to The Wall Street Journal’s April 18, 2013 article In Facebook Deal, Board Was All But Out of Picture. The WSJ article notes that:
Companies generally prefer to bring in ranks of lawyers and bankers to scrutinize a deal before proceeding, a process that can eat up days or weeks. Mr. Zuckerberg ditched all that.
Was it a good idea for Mr. Zuckerberg to go it alone on this deal? Well, it remains to be seen. Entering into such a large deal without counsel may prove to be genius. It also may result in any number of legal issues Mr. Zuckerberg lacked the expertise to anticipate. Either way, it opens the dialogue for legal consumers whether all business undertakings need legal counsel, and if so, the level of attorney involvement.
You’ve got options. The Center for Legal Practice Reform can help you navigate the attorney/client relationship and level the playing field. Call LPR today for a free consultation – (301) 351-7970.