Key insights

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1. Small Companies Must Own Their Product Expertise in M&A.
During an acquisition, it is easy for a small biotech to be intimidated by the resources of a giant like AbbVie. However, the smaller entity is the true expert on its novel product. Lisa emphasizes that acquired parties must advocate for their tailored policies and confidence in technical issues rather than simply deferring to the acquirer’s broader, less-nuanced processes.
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2. Translate Legal Issues into Deal Value.
Legal risks rarely drive deal dynamics unless they directly impact the valuation or expected synergies of the M&A. To be effective, in-house counsel must educate their business partners on how specific risks—like IP or regulatory hurdles—could derail future integration or impact the sale price.
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3. Consulting Success Requires "Articulating Your Worth."
Launching a consultancy isn't just for GCs; it’s about identifying a niche market and your specific value-add. Lisa advises being transparent and direct about hourly rates and deliverables from day one to build long-term trust and avoid cash flow issues.
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4. AI Transforms Biology from "Wet Lab" to Simultaneously Simulated.
Traditional drug discovery is slow and hypothesis-driven. At Shape, machine learning allows the team to skip years of manual experiments by using AI to predict which RNA "guides" will work for specific mutations, enabling them to run dozens of experiments simultaneously and discover ideas humans might miss.

5. Closing insight

The most successful General Counsels are those who stop viewing themselves as outside critics of a business and start acting as co-pilots who leverage their legal knowledge to drive the organization's overarching mission.