i think it would be probably better if you could give some context to your situation so correct people with relevant scope of experience could give opinion.

type of industry

what sort of scale size of company you referring to. market cap sub 500M 1B etc...

do you intend to be involved directly/indirectly?

do you have people you can talk to in confidence which is familiar on the subject? im presuming no because you are asking in lowyat forum?

all these will have bearing to what people tell you.

lawyers will not necessary be in your interest / able to prevent you from stepping into 'potholes' unless they are familiar with the related industry or familiar with the subject that you are trying to get advice from. or are the people involved a bunch of snakes or reputably upstanding which can make the conversation less stressful