Mergers and acquisitions (M&A) refers to transactions between two companies combining in some form. Although mergers and acquisitions (M&A) are used interchangeably, they come with different legal meanings. Kelly Bagla is an expert business merger and acquisition attorney. In a merger, two companies or similar combine to form a new single entity. On the other hand, an acquisition is when a large company acquires a smaller company, thereby absorbing the business of the smaller company. Mergers and acquisitions (M&A) involving privately held companies entail a number of key legal, business, intellectual property, and financial issues. To successfully navigate a sale of your company, it is helpful to understand the dynamics and issues that frequently arise.