This is the second in a series of posts on managing transaction legal cost. In the previous post, I listed what I see as the two primary components driving legal cost: “Deal Complexity” and “Negotiation Intensity.” This installment introduces the concept of “Negotiation Intensity” which has a greater impact on the total legal bill than even the complexity of the deal itself. I have worked on deals and negotiations of all sizes and of varying degrees of complexity, and I learned a few important lessons along the way that I would like to share with you...

Of all the things they don’t teach lawyers in law school, the number one lesson I never received was how to manage legal cost.   I have been an acquisitions manager, asset manager, broker, developer and real estate attorney in my 30+ years in commercial real estate and in all of those roles I struggled with containing legal fees.  I have worked on deals and negotiations of all sizes and of varying degrees of complexity, and I learned a few important lessons along the way that I would like to share with you...