Ask 4 future trainees ANYTHING! *New TCLA Team Members*

[Andrei Radu]

Hi future trainees! I have been lucky enough to be invited to an AC next week which involves a negotiation exercise. Have any of you done a negotiation and would you be able to provide some dos and don'ts. I'm worried about striking a balance between talking too much and not enough

Hey @futuretcholder and first of all huge congrats, this is an incredible achievement! As for your questions, the guide @Jessica Booker linked is amazing and so is @Amma Usman's advice. Just to add to that some further thoughts from my own experience:

Do:

• Try to anticipate before the beginning of the negotiation what would be the most common motivations and arguments levelled by you and the other party to defend a position. Then try to thing of some less obvious further points in your favor. Once you have reached an impasse after both sides have walked the others through the common points, you can use these further argument to move the compromise slightly in your favor.
• Start your negotiation with higher demands than what you actually want or expect to obtain. Say your client asks you to obtain a purchase price of $1 million. You should then maybe start the negotiation by asking for $1.4-1.5 million, and slowly start reducing the number as a result of the other party's bargaining. As such, when you finally reach your desired figure, the other party will thing you have already compromised a lot and will not be tempted to push you much further.
• Be tactical with the points you concede and with horse-trading. Even if something that the other party is adamant about obtaining is irrelevant/low-priority for you, you should not simply give that for free. Instead, you could act as if that is something that matters to you and give in to the demands as a concession. this way, you will be able to trade your concession for a concession from the other side, or at least to purchase some good will.
• Be mindful of yours or your client's priorities, even if not stated explicitly. If the priority is to get a deal through at almost all costs, be ready to compromise a lot even if the other side is not being very reasonable.
• Ask many probing questions when at an impasse, to see what motivates the other side's positions and whether you can find a compromise in a different/flexible form that is compatible with both yours and their priorities.
• Be mindful of time limits and try to allocate a sufficient amount of time to discuss every relevant point and also have time for a final recap.

Do nots:

• Be too passive or willing to compromise on anything. Especially avoid giving in to demands which are not supported by a reasonable motivation.
• Try to speak over others, interrupt, or be overly dominant. You will notice that there might be some competition between people at the beginning, as everyone is hurrying to mention some of the more obvious points before they are said by others. Try to introduce some structure into that discussion and rather than trying to compete to say the same points, perhaps try to take the role of the person who makes a synthesis of everyone's contributions and also adds some of the less obvious points at the end to shift the compromise in their favor.
• Have an adversarial attitude, even if the other side is unreasonable. Instead, you can aim to respond with an attitude of 'That's an interesting point, it's great you brought that up. However, I think we should also consider that...'. This will enable the other side to concede points without looking bad.

 

[FLOWERYELLOW2002]

@Amma Usman

Please could you let me know what you know about Simmons AC, I have found the instructions to be very brief and I want to know how best to prepare for the different tasks: inbox exercise, client discussion and case study.

Thank you.

 

[Amma Usman]

@Amma Usman

Please could you let me know what you know about Simmons AC, I have found the instructions to be very brief and I want to know how best to prepare for the different tasks: inbox exercise, client discussion and case study.

Thank you.

Hey @FLOWERYELLOW2002 , thanks for your question. I haven’t had any experience with Simmons in particular, but here are a few tips from the specific points you’ve mentioned:

Inbox Exercise

The inbox exercise simulates a real-life work scenario where you'll be managing multiple tasks and deadlines, often under time pressure. Typically, you'll be reviewing emails and responding appropriately. This could involve prioritizing client queries, drafting responses, and even summarizing complex information into clear, actionable advice.

In some cases, you might also be asked to write an electronic memo summarizing your thoughts and findings based on attached documents or client instructions. It’s important to maintain a professional tone and address client concerns clearly. I would suggest focusing on being concise yet thorough—clients value clarity and precision in legal advice.

In my experience, law firms want to see how well you manage your workload, respond to client needs, and communicate effectively. A good way to prepare is by practicing drafting succinct emails and memos, perhaps even setting a timer to simulate the time pressure you may face on the day.


Client Discussion

A client discussion exercise could involve advising a client on the surrounding circumstances of their case, often in the presence of a senior lawyer or partner. This task will test your ability to communicate complex legal issues clearly and efficiently. The key here is to ensure you fully understand the client’s objectives—what they want to achieve from the matter—and provide tailored advice that addresses those concerns.

The client may ask questions on the spot, so it’s important to stay calm and think on your feet. They’ll be assessing your commercial awareness and understanding of how legal principles apply to business situations. Therefore, brushing up on recent commercial cases or trends in the sector can be beneficial. Whether you're discussing contract negotiations, regulatory issues, or disputes, having a broad understanding of the legal and business implications will help you shine.

If you’re preparing for a transactional firm, expect more corporate-focused discussions—think mergers, acquisitions, and private equity. For more contentious firms, the discussion may lean towards litigation or dispute resolution. Being aware of both areas is crucial, as even transactional clients will appreciate your awareness of potential disputes, and vice versa.

Case Study

Case studies at law firm assessment centres tend to focus on contemporary issues in the commercial world. You might be given an article on a specific industry, like energy, or a broader topic such as private equity or mergers and acquisitions (M&A). The task will usually involve analyzing the situation and advising on potential legal or business solutions. Firms are testing your ability to digest information, think critically, and apply your legal knowledge to real-world scenarios.

For example, in a case study involving M&A, you may need to advise on due diligence, regulatory concerns, or the structure of the deal. In a case centered around energy, you might need to discuss environmental regulations, contract risks, or the impact of geopolitical events. Be sure to structure your analysis logically: identify the key issues, consider possible solutions, and weigh the pros and cons of each option.

In my experience, transactional firms tend to center their case studies on corporate law issues, while contentious firms will have case studies focused more on litigation or regulatory concerns. However, showcasing knowledge of both will help you come across as a well-rounded candidate. It’s essential to demonstrate that you can consider both corporate and contentious aspects—this will highlight your versatility and make you a more attractive prospect.

General Tips

• Research the firm: Know their major practice areas, recent cases, and key clients. It helps to tailor your responses and demonstrate your commercial awareness.
• Time management: These exercises are often time-pressured, so practice managing your time effectively.
• Attention to detail: Commercial law demands precision, so take care in reviewing documents, drafting emails, and delivering advice.
• Clear communication: Whether in written tasks or discussions, make sure your points are clear, concise, and business-oriented.

Hope this helps!

 

[aspiringlawyer12]

@Andrei Radu @Amma Usman @Ram Sabaratnam

What are the benefits (from a trainee perspective) to work in a sector focussed firm? All I have so far is that it'll help me develop commercial awareness to provide more tailored client services and perhaps help me find my niche earlier on (allowing greater career development). Moreover, why would having a broad practice exposure be beneficial? (again, all I have is that it'll help me make a more justified decision on where to qualify).

Additionally, are there any TCLA resources (or any you've used) for situational interview preparation?

Thanks in advance!

 

[Andrei Radu]

@Andrei Radu @Amma Usman @Ram Sabaratnam

What are the benefits (from a trainee perspective) to work in a sector focussed firm? All I have so far is that it'll help me develop commercial awareness to provide more tailored client services and perhaps help me find my niche earlier on (allowing greater career development). Moreover, why would having a broad practice exposure be beneficial? (again, all I have is that it'll help me make a more justified decision on where to qualify).

Additionally, are there any TCLA resources (or any you've used) for situational interview preparation?

Thanks in advance!

Hey @aspiringlawyer12 I will list some of the other benefits I can think of bellow, although what you have listed is already quite persuasive in my opinion. As for the situational interview resources, you can find a section on it in the TCLA course you can find here.

Benefits from working in a sector-focused firm:

1. Learning more about the intricacies of the sector as a benefit in itself: if you have a prior interest in a given sector of the economy, working for a firm that has a focus on that sector will enable you to get a lot more exposure to it, which can be a benefit in and of itself. Just as you might have a general interest in commercial law because you have a general interest in learning more about and working with businesses, you might also have a specific interest in sector-focused firms because you have a specific interest in learning more about the sector. This reasoning will be especially persuasive if you have some previous work or other relevant experience related to the sector. Personally, I have seen candidates write persuasive answers based on this type of question in regards to sectors ranging from tech and financial services to energy, pharma and transportation.
2. Becoming a true strategic business advisor: this is similar to the line of reasoning you mentioned but is focused on long-term career prospects. Essentially, the idea is that if you spend years and years working on matters in a single industry, by the time you become a more senior practitioner you will have almost as much technical expertise in the sector as the client themselves. Having this kind of deep insight and knowledge of the industry will not only mean that you can give better advice to clients on particular mandates, but it will also mean you will be in a better position to form a client-lawyer relationship which goes beyond that. This way, you will have a good chance of becoming a go-to strategic advisor for the client, which is potentially a more interesting role than just dealing with their legal requests.
3. More high-end mandates: if the firm can generally provide better service than its competitors because of its sector focus, this also means that the firm will be better placed to win the top of the market mandates from that industry. This might be naturally attractive to you, as these mandates tend to be the among the most complex and consequential.

Benefits of a broad practice area spread:

1. Becoming a more well-rounded lawyer: essentially, if you get to experience a greater variety of practice areas in your TC, you will learn how to consider legal issues from more perspectives regardless of where you eventually end up qualifying. This more holistic training experience therefore arguably gives you the opportunity to become a better lawyer. For instance, if you become a transactional lawyer but you have also worked in disputes, you will be able to draft terms with a better view as to what kind of drafting can lead to litigation risk down the line. Or if you become a disputes lawyer but have also experienced a transactional seat, you will simply know more about the context of the dealmaking process from which many disputes originate, which can potentially enable you to navigate the legal and factual issues more effectively.
2. Hedge against market risk: as has been seen in the recent dealmaking market downturn, demand for some law firm practice areas can significantly fluctuate depending on economic conditions. As such, when the market is down for one practice, if a very significant part of a firm's revenue was reliant on it, the firm will be forced to make layoffs. However, generally when the market is down for one practice, it goes up for another. For instance, while after the pandemic era boom demand has been low for PE and M&A departments, demand has also been up for restructuring and litigation departments. Thus, firms with a broad spread get to recover losses from one practice with increased earnings from another, which means it is more likely they will be able to retain their staff (and potentially used the position of financial strength to expand, like Paul, Weiss did after 2008).
3. Cross-selling opportunities: finally, having more practice areas comes with opportunities for cross-selling. If you establish a relationship with a client in one practice area, you can then 'cross-sell' the services offered by the other practices. This leads to better business and profits for the entire firm. An example of this strategy being used successfully once again comes from Paul, Weiss, as the litigation arm of the firm managed to cross-sell its PE department to Apollo - which ended up establishing one of the closest institutional ties between a law firm and a PE house in the market.