Search Fund and IS Legal Engagement Structures

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December 22, 2025

by a searcher from University of Virginia-Darden - Darden School of Business in Virginia Beach, VA, USA

I'm looking at deals at a variety of sizes given my geographic focus and, as such, am open to both a self-funded search fund and independent sponsor model. Curious on what legal engagement letter terms typically look like (or should look like) for these models. Obviously there may be hourly rates, but do people have examples of how failed deal fees are charged, etc? I know McGuire Woods is a thought leader in the IS space, so curious if others have worked with them and understand how they communicate cost upfront (along with leaders in the Self-Funded space). This would all help me educate the advisors I've worked with in the past on more traditional M&A deals (strategic/PE).
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from University of Virginia in Metuchen, NJ 08840, USA
Highly recommend a conversation with ^redacted‌, UVA Law grad and Co-Founder of SMB Law Group with ^redacted‌ and ^redacted
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