Legal Intern
About Us
TBD Investors is a private investment firm that backs exceptional searchers and entrepreneurs as they acquire, operate, and build enduring companies. We invest our own capital, often as a lead investor and alongside other investors such as Brown Robin, and work closely with entrepreneurs to build exceptional companies. We believe enduring businesses are built by people who take responsibility, care about their customers and employees, and make things better every day.
You can learn more about this opportunity and keep up with future openings on our LinkedIn page or on our website.
About the Role
TBD Investors is seeking a Legal Intern to support the legal and compliance work involved in acquiring, operating, and growing privately held companies.
This role offers exposure to the full range of legal matters encountered in a private equity environment, including mergers and acquisitions, corporate law, regulatory compliance, contract review, corporate governance, and portfolio-company operations.
The intern will also help with the legal work supporting our healthcare MSO roll-ups, including the relationships among management services organizations, physician-owned professional entities, and acquired practices.
What You’ll Work On
- Research legal and regulatory issues affecting potential investments and portfolio companies
- Assist with legal due diligence for acquisitions, add-on investments, and other strategic transactions
- Review and organize letters of intent, purchase agreements, disclosure schedules, financing documents, and closing materials
- Support the legal structuring and ongoing administration of healthcare MSO roll-ups
- Research corporate practice of medicine, fee-splitting, physician ownership, licensing, and other state-specific healthcare requirements
- Help review management services agreements, equity restriction agreements, administrative services agreements, and related MSO documents
- Assist with the formation and governance of MSOs, physician-owned professional corporations, LLCs, and other legal entities
- Help maintain transaction checklists, diligence trackers, corporate records, ownership information, and entity documentation
- Review commercial agreements, including vendor, employment, confidentiality, consulting, licensing, billing, and professional-services contracts
- Assist with board materials, written consents, resolutions, capitalization records, and corporate-governance processes
- Track regulatory filings, contractual obligations, renewal dates, insurance requirements, and compliance deadlines
- Help develop practical compliance policies, templates, and processes for growing portfolio companies
- Work with company leadership, outside counsel, investors, physicians, and other professional advisors on active legal matters
- Contribute to special projects involving employment matters, intellectual property, litigation, risk management, and corporate strategy
Who Should Apply
We welcome applications from:
- Current law students
- Undergraduate students pursuing pre-law, legal studies, political science, business law, finance, healthcare administration, or a related field
- Recent graduates considering law school or a career in corporate law, M&A, healthcare law, compliance, or private equity
- Strong candidates will have:
- Excellent research, writing, and analytical skills
- Strong attention to detail and organizational ability
- Sound judgment and discretion when handling confidential information
- An interest in corporate law, private equity, mergers and acquisitions, healthcare law, or regulatory compliance
- The ability to work independently in a fast-moving, entrepreneurial environment
- A practical mindset and an interest in understanding how legal decisions affect businesses
- Prior experience in a law firm, corporate legal department, investment firm, healthcare organization, or regulated industry is helpful but not required.
What You’ll Gain
This is an opportunity to see how legal work supports real investment decisions and operating companies. You will gain hands-on exposure to the legal lifecycle of a private equity investment, from initial diligence and acquisition through governance, compliance, growth, and eventual exit.
You will also develop a practical understanding of healthcare MSO structures and the legal considerations involved in acquiring and operating physician practices across multiple states.