These are often seen by students as one of the more difficult assessments. Candidates are given a set time to read a case study, often a very large document and must prepare to answer questions on what they have read. This task is easier if you know what you are looking for and can focus on reading the relevant subsections as there is often insufficient time to read the whole document. This can be helped by marking the useful sections for later review. Importantly interviewers do not expect you to have memorised all the information and it’s wise to review the case study during the interview. You are tested on your ability to reason and draw conclusions, particularly when the nature of the topic is technical and you often are not expected to know the right answers. You can say you don’t know if you don’t know.It is important to consider both the legal AND business implications of the scenario. The latter is often overlooked by students, but it is essential. Clients are looking for how the legal consequences impact their business.Case study
The case study can be quite challenging: be prepared to walk a partner through an acquisition (the target will often be a big brand) and in particular, what factors you will need to think about. I find it helps when students split it into categories something like this:
· Structure – Share purchase (whole business) v asset purchase (cherry-pick parts)
· Finance – Raising equity (selling shares) v debt (getting a loan or issuing a bond)
· Employment/Litigation – Any claims? Terms of the current contracts? Any potential claims?
· IP – How powerful is the brand?
· Real Estate – Who actually owns the title to the property?
Then be prepared to think about how you can get protections if things go wrong i.e. warranties and indemnities, reduction of the purchase price etc.