Screen pre-completion steps for gun jumping
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- Take the list of proposed pre-completion steps the lawyer provides and place each step against one of the three categories in the ACCC fact sheet: sharing current competitively sensitive information beyond due diligence and integration planning, restricting the target's business, or coordinating pricing, customers or marketing. Note the fact sheet's clean-team example. Do not clear a step.
- What the lawyer must review
- The lawyer decides which steps must wait until completion, what information a clean team may see, and whether the Competition and Consumer Act is engaged. The lawyer checks the current cartel, section 45 and section 50 provisions. The fact sheet is dated May 2019.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | Take the list of proposed pre-completion steps the lawyer provides and place each step against one of the three categories in the ACCC fact sheet: sharing current competitively sensitive information beyond due diligence and integration planning, restricting the target's business, or coordinating pricing, customers or marketing. Note the fact sheet's clean-team example. Do not clear a step. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Do not treat a signed sale agreement as permission to coordinate. The fact sheet says the parties must keep competing until completion.
- Do not copy the penalty figures in the May 2019 fact sheet into advice. The lawyer checks the current Act.
- Flag a clause that sends the target's customers to the buyer before completion. That is the conduct the fact sheet describes in the Cryosite case study.
- Keep the hold list off the integration plan that is circulated to the business.
Sources
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.