This is part of a series of articles on transactional contracts issues by Prof. Michael L. Bloom and students in the Transactional Lab at the University of Michigan Law School.
Each transaction undertaken by a company and its counsel ideally offers value not just in the deal itself but also in the lessons learned from doing the deal. Each transaction likely offers lessons in substance (e.g., tricky corners of a regulation) and in process (e.g., when to ask what of specialists). By taking the time to reflect, debrief with the deal team and determine how best to approach future deals, those involved in a transaction will further develop their own professional skills and knowhow, while making the enterprise smarter and more efficient.
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