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Aspiring Lawyers - Interviews & Vacation Schemes
Commercial Awareness Discussion
confused to commercially aware! trying to develop my commercial awareness
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<blockquote data-quote="confusedlawstudent" data-source="post: 128385" data-attributes="member: 17277"><p>Today I read <a href="https://www.ft.com/content/a8b2c939-88da-45ca-a74e-9f49bb8c8c1c" target="_blank">this </a>article in the Financial Times called <em>The UK's dream of becoming a 'science superpower'. </em>I have never been into life sciences, so do not have much knowledge about it, but I decided to give it a go! </p><p></p><p><strong>Supercharging the UK life science industry 🌱👩🔬</strong></p><p></p><p>The UK government wants to supercharge the life science industry. In 2021, ministers entered a long-term investment agreement with Abu Dhabi's Mubdala Investment Company that will se an initial £800 million committed from Mubdala to invest in UK life sciences. The UK will add £200 million to this. The UK government has also committed to an increase in public Research & Development spending to £22 billion a year by 2024-25, and a significant proportion of this is in life sciences.</p><p></p><p>How will this impact law firms?</p><ul> <li data-xf-list-type="ul">The funding from the government is going to help businesses expand. More funding means more research, so lawyers will be advising on the regulatory issues with regard to conducting research trials on animals and humans. </li> <li data-xf-list-type="ul">When expanding, life science companies are going to be entering supply contracts with distributors, retailers etc., which commercial lawyers will draft. </li> <li data-xf-list-type="ul">Corporate lawyers will advise on any acquisitions a life science company wants to make. For example, they might decide to acqui-hire to gain the talent needed for a successful life science company. </li> <li data-xf-list-type="ul">With more research opportunities, comes new inventions, so IP lawyers will help with registering the required patents, and also any IP licensing a company wishes to do in order to gain more revenue streams. </li> </ul><p>Overall, I think this new government initiative will have a positive impact on the life science industry in the UK, and it will continue to grow. However, there is still the pressing issue of UK start-ups being sold off to US companies just at the point where they are starting to have proven revenue streams. If this continues, the life science industry will not grow as much as the government wants.</p></blockquote><p></p>
[QUOTE="confusedlawstudent, post: 128385, member: 17277"] Today I read [URL='https://www.ft.com/content/a8b2c939-88da-45ca-a74e-9f49bb8c8c1c']this [/URL]article in the Financial Times called [I]The UK's dream of becoming a 'science superpower'. [/I]I have never been into life sciences, so do not have much knowledge about it, but I decided to give it a go! [B]Supercharging the UK life science industry 🌱👩🔬[/B] The UK government wants to supercharge the life science industry. In 2021, ministers entered a long-term investment agreement with Abu Dhabi's Mubdala Investment Company that will se an initial £800 million committed from Mubdala to invest in UK life sciences. The UK will add £200 million to this. The UK government has also committed to an increase in public Research & Development spending to £22 billion a year by 2024-25, and a significant proportion of this is in life sciences. How will this impact law firms? [LIST] [*]The funding from the government is going to help businesses expand. More funding means more research, so lawyers will be advising on the regulatory issues with regard to conducting research trials on animals and humans. [*]When expanding, life science companies are going to be entering supply contracts with distributors, retailers etc., which commercial lawyers will draft. [*]Corporate lawyers will advise on any acquisitions a life science company wants to make. For example, they might decide to acqui-hire to gain the talent needed for a successful life science company. [*]With more research opportunities, comes new inventions, so IP lawyers will help with registering the required patents, and also any IP licensing a company wishes to do in order to gain more revenue streams. [/LIST] Overall, I think this new government initiative will have a positive impact on the life science industry in the UK, and it will continue to grow. However, there is still the pressing issue of UK start-ups being sold off to US companies just at the point where they are starting to have proven revenue streams. If this continues, the life science industry will not grow as much as the government wants. [/QUOTE]
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