Commercial Awareness Briefing

[Jaysen]

Have you tried Finimize?

Hey guys,

I know that Jaysen's made a case study guide on M&A transactions. However, I just came across this article on private mergers and acquisitions in the US. Though its private M&A and tailored to the US legal/regulatory framework, many of the fundamental principles are universal. Two of Shearman & Sterling's M&A partners wrote the article - so its quite detailed.

https://uk.practicallaw.thomsonreut...ontextData=(sc.Default)&firstPage=true&bhcp=1

I've really enjoyed the commercial awareness updates.

Aside from the usual sources (FT. Economist, etc.). Are there any other particular sources which can give a strong foundation for understanding macroeconomics to the level required for firms? Or is this something you pick up through wider reading and research?

Hey all,

If you don't mind, I'd like to bounce an idea off you guys.

I would say the most common question I get asked from students is 'how do I develop commercial awareness?'. It's a completely fair question to ask; I had the same problem when I was applying, and it's not typically taught at university.

At the moment, I would say the FT and The Economist are good for developing a broad commercial understanding of the world, and as some of you have suggested, Finimize is excellent for breaking down business news and financial terms.

We would like to add another resource to the mix by producing our own commercial awareness briefing. The idea is that we'll develop your ability to think commercially by breaking down the topics that feature in commercial interviews.

Because they're bite-sized emails, I should be able to tackle a range of topics about the legal market, business and finance. For example, some of you may have seen the list I drew up late December on TSR. These are some of the topics I hoped to tackle:

Case studies:

• How a company is formed: structure and decision making
• Acquisitions: asset v sale purchase
• Raising capital: equity v debt finance
• Public companies: why list?
• Private equity: from forming the fund to IPO
• Security: types and priorities
• Inflation, interest rates and derivatives: a basic intro

Commercial:

• The impact of Brexit on law firms
• Trends: M&A to Energy
• Looking forward to 2018
• Looking back to the financial crisis

Legal:

• Inside a law firm: from structure to profit
• Competition: what makes a law firm different?
• The difference between US and magic circle firms
• The future of law firms: technology and its consequences
• The biggest challenges facing law firms

I'd love to hear your thoughts on this idea - the good or the bad. Please also feel free to make any suggestions about the bite-sized topics you'd like covered and whether you'd prefer a daily or weekly update. @GD1995 and @Denisa Olaru - apologies for not getting to your suggestions sooner, but I hope to cover them in these emails.



PS: I attach a teaser for what to expect


Many thanks,

Jaysen

 

[Coralin96]

Yesssss I love this idea! Especially any newsletters about the challenges law firms face and the future of law firms. I've been asked both of those in interviews before and I felt like my answers were so vague. So that would be really helpful

 

[Jaysen]

Great, I will get this started on Monday. I'll also be sending over the commercial awareness roundup (from Coralin's March-April posts) shortly.

 

[KS94]

Brilliant idea Jaysen! I think the advantage is that this would be a positive step towards helping students who've applied for firms other MC/US. I can't see any negatives with the idea.

In terms of weekly/monthly - it's probably a balancing act of depth and the time you have available. I'm sure everyone would be happy with weekly updates (although TC interviews being around the corner could be something to consider).

 

[Jaysen]

Brilliant idea Jaysen! I think the advantage is that this would be a positive step towards helping students who've applied for firms other MC/US. I can't see any negatives with the idea.

In terms of weekly/monthly - it's probably a balancing act of depth and the time you have available. I'm sure everyone would be happy with weekly updates (although TC interviews being around the corner could be something to consider).

Thanks for the feedback. Good points - at the moment I'm leaning towards an update 2-3 times a week. And yes, we want to give all aspiring lawyers a strong foundation in commercial thinking - not just the MC/US firm applicants.

 

[Jaysen]

The newsletter is out guys

 

[Nicole]

Great! And thank you @Coralin96

 

[KS94]

Just managed to skim read. With all the information collated it really does begin to build the foundations of commercial awareness. The content is good but these updates also help readers understand what 'commercial awareness' entails. After reading these, I feel like I could read around another random topic and be able to summarise it whilst giving a brief opinion/analysis on how it affects firms.

That's the pivotal skill to take away from these updates and personally, I think they're very helpful!

 

[Nicole]

Just managed to skim read. With all the information collated it really does begin to build the foundations of commercial awareness. The content is good but these updates also help readers understand what 'commercial awareness' entails. After reading these, I feel like I could read around another random topic and be able to summarise it whilst giving a brief opinion/analysis on how it affects firms.

That's the pivotal skill to take away from these updates and personally, I think they're very helpful!

We're really happy to hear that - that's exactly what we were hoping, so thank you! We're aiming to send out part 2 over the weekend.