🚨 Reed Smith has just announced its Direct Training Contract route!
The deadline is 20th June.

👉 Read Becca's announcement post here
📝 Apply directly here

Reply to thread

Message: <blockquote data-quote="Andrei Radu" data-source="post: 211085" data-attributes="member: 36777">Hi [USER=29878]@ashwright[/USER] and huge congratulations, I'm so happy to hear the news 🥳🥳 ! First off, my advice is to take a moment to celebrate this before jumping into preparations; I remember the first time I got an AC invite, it was one of the most exciting moments in my life - probably even more than when I got a VS or TC offer! After dealing with a lot of insecurity because of my past rejections, this was the first time I remember think 'I can actually do this' and also fully believing it, so looking back I wish I had cherished the moment a bit more rather than jumping straight away to chase the next thing.As for advice around identifying and articulating legal issues arising from a business proposal, I think you should essentially analyze the proposed dealing by constantly asking yourself questions such as:<ul> <li data-xf-list-type="ul">What exactly is each party promising here? How do I make sure this is enforceable? </li> <li data-xf-list-type="ul">What could go wrong with the transaction? What commercial risks does accepting this proposal imply? Is there any way such risks can be mitigated via legal instruments?</li> <li data-xf-list-type="ul">Are there any potential legal liabilities resulting from this? Is there any way that the proposed transaction, or elements it entails, are contrary to law/regulations? </li> </ul>Essentially, for any piece of information give, I think you need to ask yourself (i) is there any way this entails a risk, even if a remote one? is there anything here that could go wrong and cause some sort of harm to my client?; and if the answer is yes, then ask (ii) how is this connected to law and how can it be remedied? This mindset is partly why some people describe the job of commercial lawyers as that of a "risk-mitigator"Now, what exactly those risks are will greatly depend on the specifics of the business proposal. However, I think you can improve your chances of spotting by learning about the following:<ul> <li data-xf-list-type="ul">General business risks and costs: by familiarizing yourself with the kind of things businesses need to be aware about in general, you increase your odds of identifying their particular instantiations in the exercise. I have linked here an<a href="https://www.investopedia.com/terms/b/businessrisk.asp" target="_blank"> introductory Investopedia article</a> on the topic.</li> <li data-xf-list-type="ul">Risks involved in contracts: since any business proposal, if accepted, is likely to take the form of a contract, it is helpful to have a basic understanding of the risks involved in transactions and how contractual provisions can address them. In particular, have a look for how to address liability exposure in case of breach, management of disputes, termination rights, force majeure clauses, reputational risks, and interpretation of ambiguous terms. </li> <li data-xf-list-type="ul">M&A risks: M&A transactions are the most common type of business proposal encountered in ACs, so I think it is definitely useful to understand the basic terms that go into this type of deal and the types of harms they protect parties from. I would have a look in particular at NDAs, warranties, indemnities, disclosure schedules, change of control clauses, employee retention, IP ownership, and conditions precedent (which is where we would require, for instance, clearance from the competition law authorities)  .</li> </ul></blockquote>

Verification: Our company is called, "The Corporate ___ Academy". What is the missing word here?

Top Bottom

Search

Search

Reply to thread