Alexandra Pierman

Key Takeaways A leveraged buyout acquires a company using borrowed money, secured against the target’s own assets and cash flows The old 80% debt rule no longer holds. Sponsors now write far larger equity checks Returns come from three places: paying down debt, growing earnings, and exiting at a higher multiple The best targets are … Read more

Key Takeaways IP licensing lets another party use your intellectual property while you keep ownership Licensing is not selling. An assignment transfers ownership, a license only grants permission The 3 license types are exclusive, non-exclusive and sole, and they differ on who else may use the IP An IP license agreement turns on scope, territory, … Read more

Key Takeaways Intercompany transactions are exchanges between separate legal entities under the same parent company They are routine. Nearly half of US goods trade happens between related parties The 3 types are downstream, upstream and lateral, named for the direction they travel They must be eliminated in consolidation, because a group cannot earn revenue from … Read more