Goodwin Procter commercial awareness questions

desperateTCseeker1998

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Jan 1, 2023
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I'm slightly confused about two questions on this application.
Provide an example of a change in society, the economy, or in a market sector which interests you and which you think could impact the legal sector. Discuss the impact it has had or could have. Max 350 words
Identify a current commercial issue which has attracted your attention recently. Why do you consider it to be significant? Who are the key stakeholders in this situation and what are the implications for those concerned? Max 400 words

I understand both individually (mostly) but they're vaguely similar and so I'm worried they're looking for something very specific. I'm not sure how narrow each is supposed to be I guess.
The way I've interpreted it the first is meant to be about a wider societal issue (eg death of the high street, inflation) opposed to a specific legal/commercial issue (eg OECD two-pillar tax reform) and then you pick out the legal issues arising from it (eg increased insolvency work, different taxes for digital services). However, I'm worried it might be looking more at the way law firms work as businesses (eg Brexit meaning businesses might want to move into EU jurisdictions so firms need to increase their EU presence).
The second question I'm just not sure how specific to get, I don't know whether to discuss a specific example or a general trend/issue (eg fall of FTX vs general decline of crypto)
Thanks for any help, I'm definitely overthinking it
 

Jessica Booker

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Aug 1, 2019
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For the first question, you don't need to discuss the way law firms work unless it's an integral part of the change you identify. You do have to identify how the legal sector would be impacted though (and this obviously could be how law firms work as a business, but doesn't necessarily have to be).

For the second question, I would keep in mind it needs to be an significant issue - but it doesn't matter whether it is specific or a broader trend.
 

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