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<blockquote data-quote="Andrei Radu" data-source="post: 187379" data-attributes="member: 36777"><p>Hi [USER=23486]@allwillbewell[/USER]! I think what the law firm means by it depends on the context, but I think it is likely it refers to one of the two related concepts:</p><ol> <li data-xf-list-type="ol"><strong>Multidisciplinary approach to client service:</strong> Essentially, the idea here is that clients (and especially clients in the financial sector) are increasingly asking for more from lawyers than technical legal advice. Many commentators point out that clients now expect lawyers to be able to provide general business decision-making advice as well. This requires both a deep understanding of the client's business arms and departments and generally strong commercial awareness skills. Knowledge of new tech developments (especially in the AI sphere), of environmental and of geopolitical matters is more relevant than ever, as is an ability to flexibly provide legal and other counselling services around them. As such, some firms have started to try to develop their expertise in other 'disciplines' besides the traditional purely-legal ones. For instance, some have added consulting arms to their business, while other have invested in legal tech development capabilities. </li> <li data-xf-list-type="ol"><strong>Multidisciplinary approach to training</strong>: The related idea here is that to be a truly multidisciplinary firm, you need lawyers trained to think across disciplines and consider the client's interests from multiple lenses. To have that, some firms invest in providing training which goes well beyond technical legal skills and includes teaching of financial and business skills, tech, and ESG matters. Moreover, some firms (such as Slaughter and May) apply the same philosophy in the structuring of their practice areas. As such, instead of working in a niche subdepartment, at this type of firm you could gain exposure to a much wider variety of matters under one broader practice area umbrella. For instance, in corporate you could one day work on a public M&A deal, the next one on an equity issue, and the next on a PE transaction, while at other firms you would need to do 3 different seats to experience working on all these mandates.</li> </ol></blockquote><p></p>
[QUOTE="Andrei Radu, post: 187379, member: 36777"] Hi [USER=23486]@allwillbewell[/USER]! I think what the law firm means by it depends on the context, but I think it is likely it refers to one of the two related concepts: [LIST=1] [*][B]Multidisciplinary approach to client service:[/B] Essentially, the idea here is that clients (and especially clients in the financial sector) are increasingly asking for more from lawyers than technical legal advice. Many commentators point out that clients now expect lawyers to be able to provide general business decision-making advice as well. This requires both a deep understanding of the client's business arms and departments and generally strong commercial awareness skills. Knowledge of new tech developments (especially in the AI sphere), of environmental and of geopolitical matters is more relevant than ever, as is an ability to flexibly provide legal and other counselling services around them. As such, some firms have started to try to develop their expertise in other 'disciplines' besides the traditional purely-legal ones. For instance, some have added consulting arms to their business, while other have invested in legal tech development capabilities. [*][B]Multidisciplinary approach to training[/B]: The related idea here is that to be a truly multidisciplinary firm, you need lawyers trained to think across disciplines and consider the client's interests from multiple lenses. To have that, some firms invest in providing training which goes well beyond technical legal skills and includes teaching of financial and business skills, tech, and ESG matters. Moreover, some firms (such as Slaughter and May) apply the same philosophy in the structuring of their practice areas. As such, instead of working in a niche subdepartment, at this type of firm you could gain exposure to a much wider variety of matters under one broader practice area umbrella. For instance, in corporate you could one day work on a public M&A deal, the next one on an equity issue, and the next on a PE transaction, while at other firms you would need to do 3 different seats to experience working on all these mandates. [/LIST] [/QUOTE]
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