Lawrence Lederman

“Here, paper shuffling was treated seriously, and as a task of great difficulty.”
― Lawrence Lederman, Tombstones: A Lawyer's Tales from the Takeover Decades

“Each looked at the process [of drafting an agreement] as drawing a series of concentric circles to circumscribe the risks, with the issues in the inner rings being the most likely risks. They tried to draw as many circles as reasonably necessary, without burdening the deal with too much complexity. Frank's structures were often elliptical, covering issues in the outer rings while sometimes leaving others reasonably near the center uncovered. Marshall's deals were more symmetrical and less complex, unlikely to cover remote or novel risks not in the center (although possibly a problem in time), since he proceeded from precedent.”
― Lawrence Lederman, Tombstones: A Lawyer's Tales from the Takeover Decades