It was late morning on Saturday. Romy was asleep in her buggy, and I was sitting in the patio outside, listening to the birdsong, and feeling very smug about my solo parenting skills. But beneath all that, I knew there was a reckoning coming: the inspection when my boss Xiaofang returned home to Chateau Sutton after a week’s absence.
It turned out that the inspection on Saturday evening was relatively painless, mainly due to the fact that Xiaofang had just got off a 12-hour flight from Shanghai. My major let-down, though, was our girls’ hair. I had managed to lose our only de-tangling hair brush half way through the week, and the tangles in our three daughters’ hair were beginning to intensify. Especially with Norah: she could have hidden a 12-pack of colouring pencils in her hair, and no-one would have noticed.
From a business and legal perspective, an “inspection” may come in different forms and at different times. It may be a future fundraising, sale or IPO you’re working towards, and you know your current state of legal compliance would be flagged up in the investors’ / buyers’ legal due diligence investigations, and may reduce the valuation which you would achieve. It might be a key strategic alliance or joint venture where you know you would not be legally protected if push came to shove and you had to enforce your rights (and joint ventures always come to an end at some point). It may be an area of regulatory non-compliance you’ve been turning a blind eye to for a while, but which might be picked up by a regulator or an aggrieved third party.
If any of this applies to you, and your business would benefit from ongoing strategic legal advice and hands-on support, then our Virtual Legal Director Service may be right for you. You can read the details here, or just reply to this email to request further information.