> For the complete documentation index, see [llms.txt](https://help.jurisphere.ai/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://help.jurisphere.ai/jurisphere-guide/handbook/mergers-and-acquisitions/stage-by-stage.md).

# Stage by Stage

{% hint style="info" %}
**This page is for the team running the matter.** The stages of the mandate in the order they happen, the tools the team opens at each, and the call the lawyer still owns.
{% endhint %}

{% stepper %}
{% step %}

### M\&A - Pre-Transaction

Research transaction structure options. Draft term sheet / LOI.

<details>

<summary>Research transaction structure options · <a href="https://jurisphere.gitbook.io/jurisphere-guide/research/overview-of-the-research-tool">Research</a></summary>

Analyze legal implications of different M\&A structures (share purchase vs. asset purchase vs. merger vs. demerger); research stamp duty, tax treatment, regulatory approvals required, court/NCLT procedures

**How to use.** Query Research tool: "comparison between share purchase and asset purchase for \[sector] company", "NCLT approval requirements for merger under Companies Act", "stamp duty implications for share transfer in \[state]"

</details>

<details>

<summary>Draft term sheet / LOI · Document Review · <a href="https://jurisphere.gitbook.io/jurisphere-guide/word-add-in/overview-of-the-word-add-in">Word Add-In</a></summary>

Prepare non-binding term sheet outlining key commercial terms: valuation, payment structure, conditions precedent, exclusivity period, break-up fees, governing law

**How to use.** Use Document Review with drafting workflow based on firm template, or Word Add-In to draft from precedent. Customize for transaction-specific terms

</details>

<details>

<summary>NDA drafting and review · Document Review · <a href="https://jurisphere.gitbook.io/jurisphere-guide/word-add-in/overview-of-the-word-add-in">Word Add-In</a></summary>

Draft/review mutual NDA with counterparty; ensure adequate protection for confidential information, carve-outs, permitted disclosures

**How to use.** Use pre-built NDA review workflow to identify key provisions, risks, deviations from standard. Use Word Add-In for drafting/editing specific clauses

</details>
{% endstep %}

{% step %}

### M\&A - Transaction Documents

Draft Share Purchase Agreement (SPA). Review disclosure schedules.

<details>

<summary>Draft Share Purchase Agreement (SPA) · Document Review · <a href="https://jurisphere.gitbook.io/jurisphere-guide/creating-custom-workflows">Custom Workflow</a> · <a href="https://jurisphere.gitbook.io/jurisphere-guide/word-add-in/overview-of-the-word-add-in">Word Add-In</a></summary>

Prepare comprehensive SPA covering: purchase consideration, conditions precedent, representations and warranties, indemnities, escrow, closing mechanics, post-closing covenants

**How to use.** (1) Create custom workflow by uploading prior SPA template (firm standard or deal-specific format) (2) Use workflow to generate initial draft based on term sheet and target details, OR use Word Add-In to draft from precedent library

</details>

<details>

<summary>Review disclosure schedules · Document Review · <a href="https://jurisphere.gitbook.io/jurisphere-guide/parallel-review/overview-of-the-parallel-review-tool">Parallel Review</a></summary>

Prepare/verify disclosure schedules to SPA, mapping each representation and warranty to supporting documents; identify disclosures that qualify representations

**How to use.** Use Parallel Review to extract relevant data from due diligence documents for each schedule item. Use Document Review to cross-reference disclosures against warranty clauses and assess materiality

</details>

<details>

<summary>Analyze seller's mark-up of SPA · <a href="https://jurisphere.gitbook.io/jurisphere-guide/redline-analysis/overview-of-the-redline-analysis-tool">Redline Analysis</a></summary>

Review seller's comments and revisions to buyer's draft SPA; categorize changes by impact (commercial, risk allocation, closing conditions, indemnity caps, etc.); prepare negotiation strategy

**How to use.** Upload buyer's draft and seller's mark-up to Redline Analysis. Tool categorizes all changes, identifies substantive modifications to indemnities, caps, conditions precedent. Filter by category to focus on high-impact changes

</details>

<details>

<summary>Draft ancillary transaction documents · Document Review · <a href="https://jurisphere.gitbook.io/jurisphere-guide/word-add-in/overview-of-the-word-add-in">Word Add-In</a></summary>

Prepare escrow agreement, non-compete/non-solicit agreements, transition services agreement, IP assignment deed, loan settlement documents

**How to use.** Create separate custom workflows for each document type based on prior precedents. Generate initial drafts using workflows; refine using Word Add-In

</details>
{% endstep %}

{% step %}

### M\&A - Regulatory

Research regulatory approvals required. Draft CCI notification for merger control.

<details>

<summary>Research regulatory approvals required · <a href="https://jurisphere.gitbook.io/jurisphere-guide/research/overview-of-the-research-tool">Research</a></summary>

Identify all regulatory approvals/filings required for transaction: CCI (competition), sectoral regulators (RBI/SEBI/IRDAI), FIPB/RBI for FDI, court/NCLT for mergers

**How to use.** Query: "regulatory approvals required for acquisition of \[sector] company", "CCI merger notification thresholds under Competition Act", "RBI approval requirements for foreign investment in \[sector]"

</details>

<details>

<summary>Draft CCI notification for merger control · <a href="https://jurisphere.gitbook.io/jurisphere-guide/research/overview-of-the-research-tool">Research</a> · Document Review</summary>

Prepare Form I/II for CCI notification; compile relevant turnover data, market share information, transaction rationale

**How to use.** Use Research to verify notification thresholds, Form requirements. Use Document Review drafting capability to prepare Form narrative sections based on transaction details

</details>
{% endstep %}

{% step %}

### M\&A - Closing

Prepare closing checklist and agenda. Review closing documents for execution.

<details>

<summary>Prepare closing checklist and agenda · Document Review</summary>

List all conditions precedent, deliverables, closing documents; create step-by-step closing agenda; assign responsibilities

**How to use.** Create workflow for "closing checklist generation" based on SPA conditions precedent and prior closing checklists. Tool extracts all CP items from SPA and generates structured checklist

</details>

<details>

<summary>Review closing documents for execution · Document Review · <a href="https://jurisphere.gitbook.io/jurisphere-guide/file-library/overview-of-the-file-library">File Library</a></summary>

Verify all closing deliverables: board resolutions, shareholder approvals, certificates, legal opinions, release deeds, fund transfer confirmations

**How to use.** Use File Library to get snapshot of all closing documents received. Use Document Review workflows to verify each document's completeness and compliance with SPA requirements

</details>
{% endstep %}

{% step %}

### M\&A - Post-Closing

Monitor post-closing covenants.

<details>

<summary>Monitor post-closing covenants · <a href="https://jurisphere.gitbook.io/jurisphere-guide/list-of-dates/overview-of-the-list-of-dates-tool">List of Dates</a> · Document Review</summary>

Track seller's compliance with post-closing obligations: non-compete period, indemnity survival period, earn-out milestones, transition service delivery

**How to use.** Use List of Dates to extract all post-closing obligation deadlines from SPA. Set up Document Review workflow to monitor compliance reporting

</details>
{% endstep %}
{% endstepper %}

{% hint style="success" %}
**At the end of the mandate.** Across the deal, the workspace records what each lawyer drafted, when each clause moved, and which regulatory authority was relied on at each point. The structuring calls remain with the partner. The bookkeeping is automatic.
{% endhint %}


---

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