- Sep 9, 2024
- 1,032
- 1,819
No worries! For the types of transactional-focused firms you mentioned, the information relating to the practices you mentioned covers the core of what you will need to know. Besides that, I think you should just aim to be able to explain in laymen terms some more basic business and commercial law concepts, such as:Thank you @Andrei Radu - this is really helpful. Also, I'm wondering beyond knowing about banking & finance, M&A, and private equity - is there any other concepts regarding practice areas that we need to know. I don't mean like trends or inflation etc, but pure substantive concepts and content. And if so, what exactly should we learn? I hope that makes sense. The US firms I have in mind are strong in corporate, PE, capital markets etc
Thank you
- Fundamental company law & company organisation matters, such as the different roles of shareholders vs directors, role of articles of association, concept of limited liability and separate legal personality, differences between companies and partnerships, etc.
- The different economic sectors: you should be able to categorise an companies according to the sectors they operate in, and to have a general understanding of how the sectors work (ie what are the final products and services, how do their supply chains operate, who are the biggest players in the market)
- Types of institutions in financial markets and their different roles: corporates, investment banks, PE funds, hedge funds, venture capital funds, asset managers, private credit funds, etc.
- The different types of legal services offered to these clients by different practice areas of a law firm, particularly in relation to what teams come into a transaction at different times (ie you should be able to explain what antitrust, employment, data & privacy, disputes, tax, IP and other teams do and how they contribute to successfully representing a client in an M&A or finance mandate).
- A basic understanding of the differences between dispute resolution methods: you should be able to explain what litigation, arbitration, mediation, and negotiated settlement are and when each of those may be most appropriate.