Understand what the client is trying to do. Why do you want to buy or sell? Are you desperate or acting opportunistically? The answer will dictate your whole approach, whether you are going to act softly or be more aggressive.

Do your homework. Most problems can be got around if you think about them early enough. A few years ago, Allied Domecq wanted to sell its pub division and give the money to the shareholders while avoiding a huge double tax charge. By sitting down and thinking about the underlying issues thoroughly before getting underway, we were able to anticipate a lot of the potential roadblocks down the line.

Work out a timetable . . . and make it flexible. People often set unrealistic deadlines, sometimes believing them to be realistic, or on other occasions merely because they like to set unrealistic deadlines. For the most part, such things are not set rigidly in stone. You are seldom wholly in control of the speed at which the deal works – it also depends on the other side, regulatory consents, third parties and so on.

Put together a team that fits the deal. Don’t assume that everybody gets on with each other. In life it doesn’t happen. On a deal, unsurprisingly, it doesn’t happen either. If you think that somebody won’t get on with the client — even if they are the most brilliant lawyer — don’t put them on the job.

Co-ordinate. Having four or five different people calling up the client to ask them the same question doesn’t inspire confidence. If it’s a big transaction, I always make someone the deal manager. Managing the wretched thing is the primary and most important role. When Jencor bought Shell’s mining division a few years back — a huge deal involving hundreds of lawyers operating in 13 different countries — the lead associate did nothing but co-ordinate and manage for nine months.

Don’t try to do everything. Attempting to do everything as deal manager means that you get bogged down in detail and may miss out on the broader picture and strategic aims. The correct approach is to understand everything.

Having responsibility makes life so much more fun. When I was four years qualified, John Mayo, Linklaters’ former senior partner, gave me a multi-jurisdictional purchase of various chemical plants to run. His view was that I could do it, and I did. I thoroughly enjoyed doing it, too, even if it was perhaps enjoyment in a masochistic sense.

Most of our lawyers are extremely clever and competent. So the important thing is to ensure that they are motivated. I believe that the way to do this is by giving them as much responsibility as possible.

Of course, it’s also important that proper support is available. People like responsibility but they don’t want to be totally exposed. Why should they? Ever since I was an articled clerk, I’ve had people around me patient enough to answer even my more off the wall questions.

Communicate positively. Telling the client difficult things doesn’t have to mean becoming the legal equivalent of a tradesman shaking his head and sharply sucking in air while saying “I can’t do that.” Don’t simply state that there is an obstacle. Explain why. Offer solutions. One of the myths is that clients aren’t helpful. My experience is that they are extremely supportive. (Although, obviously there is the odd exception.)

When mistakes happen, don’t point the finger . . . at least initially. When something goes wrong, it is not normally a question of somebody making a howler. Usually it is miscommunication. The temperature goes up with a mistake. It’s up to the lead partner to take a grip on things and say, “What do we do?” Then do it. It’s not the time to delegate, or blame people — that means that the problem is less easily identified. Save the recriminations for later.

One size doesn’t fit all. It’s important to be flexible in the final negotiations. Sometimes you’ve got to be gentle and ask politely for a bit more here and there. On other occasions you need to be a little more firm: “I’ve got to have this, I’ve got to have that.” I’ve been part of the odd collapsed negotiation. I’ve even had the other side tell me to grow up. But my approach has usually been vindicated in the end.

“Biff on!” That was the great catchphrase of Charles Allen Jones, another Linklaters senior partner. It’s a good motto for running a deal, the idea being that there is nothing that cannot be resolved. It’s not always true, of course, but having that attitude dramatically increases the likelihood of finding a solution.

David Cheyne is senior partner at Linklaters

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