Commercial Awareness Discussion Thread

Sophie111

Standard Member
Sep 2, 2020
8
7
Hi guys,

This commercial awareness thread has been super helpful.
I was wondering if anybody had some guidance how to approach CA questions in applications. For example, DLA Piper's app question is 'Which business news story has interested you the most in the last 12 months and why?'. Though not explicitly stated in the question, it is good practise to relate the answer back to how it may impact the firm. However, I am struggling to do this.

E.g. If I talk about the concern around big tech and antitrust law. How can I talk about the impact on the firm beyond the fact they will see an increase in regulatory work?

Thanks!
 

Alice G

Legendary Member
Future Trainee
Forum Team
M&A Bootcamp
Nov 26, 2018
1,731
4,183
Hi guys,

This commercial awareness thread has been super helpful.
I was wondering if anybody had some guidance how to approach CA questions in applications. For example, DLA Piper's app question is 'Which business news story has interested you the most in the last 12 months and why?'. Though not explicitly stated in the question, it is good practise to relate the answer back to how it may impact the firm. However, I am struggling to do this.

E.g. If I talk about the concern around big tech and antitrust law. How can I talk about the impact on the firm beyond the fact they will see an increase in regulatory work?

Thanks!
Hi there - sorry this wasn't answered sooner! So it can be good in these responses to link it back to a firm if it can be done naturally and convincingly but don't feel you have to! This question just asks you to discuss a business story which interests you with no mention of needing to relate it back so if you feel this cannot be done well and your words would be better placed on the analysis and content then definitely do this and don't worry about mentioning the firm :)
 

J123

Star Member
Future Trainee
Jul 12, 2019
27
94
Does anyone have any thoughts on where law firms like Latham should consider opening an office, taking into account Covid and Brexit, and Latham's strategy for being quite aggressive in times of uncertainty?
 

Matt_96

Legendary Member
Future Trainee
  • Dec 15, 2018
    455
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    Does anyone have any thoughts on how the FCA covid insurance litigation in the high court (which found in favour of businesses seeking payouts from reticent insurers) might impact law firms operating in both the contentious and non-contentious insurance sector?

    I can't think of anything beyond an increased likelihood of litigation as different claimants figure out whether their policy wording fits the bill, and more stringent drafting of insurance contracts in future.
     
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    S87

    Legendary Member
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    Sep 4, 2018
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    Does anyone have any thoughts on how the FCA covid insurance litigation in the high court (which found in favour of businesses seeking payouts from reticent insurers) might impact law firms operating in both the contentious and non-contentious insurance sector?

    I can't think of anything beyond an increased likelihood of litigation as different claimants figure out whether their policy wording fits the bill, and more stringent drafting of insurance contracts in future.
    This is a first instance and very specific decision and personally I believe will be changed by the Court of Appeal. It is too soon to sing victory!
    HSF has written a very interesting article but the FT really outlines what are the challenges for small companies.
     
    D

    Deleted member 2707

    Guest
    Hi! I was completing the TCLA M&A Course and got a little confused. Under methods of financing, it was titled "Methods of Financing (Share Purchase)" and the lecture goes on to discuss financing through shares, debt or a combination of both. I was wondering if these methods applied solely to share purchases or if they applied to asset purchases as well (presumably not since they are not purchasing any of the target companies' shares?) Am I correct to think this?

    @Jaysen perhaps you can help clarify! Thank you :)
     

    Tavistocksfinest

    Star Member
    Jan 3, 2020
    34
    83
    Hi! I was completing the TCLA M&A Course and got a little confused. Under methods of financing, it was titled "Methods of Financing (Share Purchase)" and the lecture goes on to discuss financing through shares, debt or a combination of both. I was wondering if these methods applied solely to share purchases or if they applied to asset purchases as well (presumably not since they are not purchasing any of the target companies' shares?) Am I correct to think this?

    @Jaysen perhaps you can help clarify! Thank you :)
    An asset purchase could definitely be funded by selling equity. When generating finance by selling shares, the company purchasing the assets would sell shares in the same way, but the share price may fluctuate more depending on how investors perceive the value of the assets being purchased. A company can generate finance by selling equity at any point provided that they don't dilute the shares of current shareholders!
     
    D

    Deleted member 2707

    Guest
    An asset purchase could definitely be funded by selling equity. When generating finance by selling shares, the company purchasing the assets would sell shares in the same way, but the share price may fluctuate more depending on how investors perceive the value of the assets being purchased. A company can generate finance by selling equity at any point provided that they don't dilute the shares of current shareholders!

    Thank you so much!
     

    S87

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    Sep 4, 2018
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    Guys, I was reflecting on a question that got asked during the AS competition?
    What are the law firm most valuable assets? I would say clients, know-hows, specific tech (if they created one), the employees, specific markets?!

    What do you think?
     

    Tavistocksfinest

    Star Member
    Jan 3, 2020
    34
    83
    Guys, I was reflecting on a question that got asked during the AS competition?
    What are the law firm most valuable assets? I would say clients, know-hows, specific tech (if they created one), the employees, specific markets?!

    What do you think?
    I've got this tonight, and I think that's definitely what I'd say for the question. Client roster is obviously vital, and then I would say employees, reputation and strength in practice areas and legal tech is a good point if it's developed by them! What did you mean by know-hows?

    Also any advice for the competition? I've just prepared by looking pretty generally at trends this year within the sectors.
     

    S87

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    Sep 4, 2018
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    I've got this tonight, and I think that's definitely what I'd say for the question. Client roster is obviously vital, and then I would say employees, reputation and strength in practice areas and legal tech is a good point if it's developed by them! What did you mean by know-hows?

    Also any advice for the competition? I've just prepared by looking pretty generally at trends this year within the sectors.
    Know-how refers to specific tech or financial skills.

    I have been also trying to argument my ideas and link to law firms
     

    James Kitching

    Distinguished Member
    Oct 26, 2019
    59
    114
    Has anyone got any thoughts on how Covid-19 and its economic repercussions will affect the way that law firms will operate in the future?
    Firms have adopted new ways of working in light of the pandemic. They may of also taken cost cutting measures. Maybe these new ways of operating have shone light on financially efficient ways of working? Has the working day changed as a result of the new found method - working from home (not overly relevant to your question, I realise).
    Just ideas, I’m keen to know other thoughts.
     

    Jaysen

    Founder, TCLA
    Staff member
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    M&A Bootcamp
  • Feb 17, 2018
    4,692
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    A sad day for Debenhams after attempts to rescue the company/seek a buyer have not been successful. The company's 124 shops will cease trading and 12,000 employees are likely to lose their jos: https://www.bbc.co.uk/news/business-55142724.

    We actually used Debenhams as a case study to explore the collapse of the high street and administration during our virtual training programme earlier this year. I'm expecting far more interview questions on insolvency/administration/restructuring in the near future.

    In the New Year, once the applications calm down, @Alice G and I may restart these training programmes or conduct these as webinars so you guys can join if you missed out on our session!
     

    Alison C

    Legendary Member
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    Forum Winner
  • Nov 27, 2019
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    Has anyone got any thoughts on how Covid-19 and its economic repercussions will affect the way that law firms will operate in the future?
    I think that a lot of employees will be happier with their work-life balance if they are allowed to continue working from home several days per week. Obviously, for the new intake of trainees, this will be all they have ever known. This will impact the economics of running expensive offices, and also 'hot-desking', for example, will you be able to keep an office or desk if you only come into work three days per week?

    The logistics will need to be carefully thought through - for instance, will certain teams only come in on a Friday? Will the whole team then be expected to participate in social activities too?

    And the burning question, what will happen to water cooler conversations and office romances? This may sound slightly flippant but the conversation and informal networking are really important in smooth-running offices. Also, some 15-20% of couples met their partner at work, so will this drop when those opportunities aren't there?
     
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