Achieving a startup exit is the goal for most venture-backed scaling businesses. But any kind of exit - acquisition, IPO, PE transaction - involves a complex legal process. How can legal teams make sure their startup is set up for success, and ready to meet the moment when the exit window is open?

Judith Lutz from Blinkist shares insights on the startup exit process and post-acquisition integration, interviewed by Docplanner's Zeno Capucci. They discuss topics such as preparing for an exit, the role of external counsel, managing workload and team morale, and the challenges of post-acquisition integration. Judith emphasizes the importance of having contracts in order, being prepared for compliance issues, and maintaining open communication with management. She also highlights the need for self-care during the intense and lengthy process of an exit. Overall, Judith's experience provides valuable lessons for startups going through the exit process.

Startup exit: key takeaways

• Have contracts in order and easily accessible
• Be prepared for compliance issues that may arise during the exit process
• Maintain open communication with management and team members
• Take care of your own well-being during the intense and lengthy process
• Consider the role of external counsel and their involvement in due diligence and negotiations
• Be flexible and prioritize tasks during the exit process
• Ensure team morale by addressing concerns and providing support
• Prepare for post-acquisition integration and aligning teams and cultures
• Keep the business running smoothly during the exit process
• Be open and transparent with employees about the exit and its impact on their roles and compensation