Situation

A global Fortune 100 company agreed to divest of approximately $5 billion of assets through multiple transactions, which required a significant infusion of senior legal talent to support its in-house legal team with an aggressive goal of executing the divestment within 18 months. Though sizable, the law department had limited in-house expertise and resources necessary to manage such a large-scale strategic initiative.

Solutions

Morae:

• Placed a team of highly skilled and experienced Morae attorneys to supplement the in-house team to support the divestiture within 18 months. Our solution attorneys delivered a broad range of subject matter skills necessary, as well as an understanding of how to work in-house on a deal team.
• Developed a bid process and formation of document templates to be used across all of the transactions in the project.
• Trained all members of the deal teams on the process and templates, including business leads, outside counsel and client support groups, such as tax and finance.

Benefits

By partnering with the law department, Morae attorneys were able to increase the reach and control of the law department to manage the entire transaction process, including the overseeing outside counsel. The added capacity and the range of expertise and experience made it possible for the company to meet a very aggressive schedule for a massive business initiative in a timely and cost-effective manner. Using our solution, the company realized savings on legal expenses of more than 40 percent.