The Important Role Of Representations, Warranties In M&A

Law360, New York (December 17, 2013, 1:48 PM EST) -- During the negotiation and due diligence phases of the deal, the parties will typically exchange a sizable volume of information about the business assets in play, including intellectual property assets. Unless it is expressly stated in the transaction agreement, each party will disclaim any responsibility for the accuracy or completeness of this information.

Representations and warranties thus play an important role in most merger and acquisition transactions. The transaction agreement’s representations and warranties memorialize the condition of the business (typically, the target) at the time of...
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