It can really help to have a solicitor involved at Heads of Terms stage and there have been many occasions where we have been able to achieve a negotiating advantage, thanks to our involvement at the beginning. This often translates into real tangible benefits for our clients.
I dealt with a matter recently involving the sale of a business to a private equity investor. We were able to agree in the Heads of Terms that the investor would not charge its usual fees. This led to our client receiving an additional £100,000 per year on their earn out (which incidentally they gave to their favourite charity). It is likely that our client would not have been in this position had we not been involved at Heads of Terms stage.