TCLA Vacation Scheme Applications Discussion Thread 2023-24

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ccfuturetraineesolicitor

Distinguished Member
Feb 16, 2022
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Hi - just wondering what type of candidate JD go for? :)
From my experience, JD values candidates who really understand how their firm is different from their competitors. My interviewer really pushed that question during my interview last year. From what I understand, the AC structure has changed this year. However, I think that this quality is something that they still very much value as it shows them that you understand what the job entails and it also shows that you are keen about the firm!
 
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Untilwinter

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Dec 21, 2020
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How is commercial contracts practice different from m&a/pe/corporate? how would trainees' and lawyers task differ and what different skills would be required? I am struggling to understand the difference cause don't all practice areas deal with contracts and commercial works?
 

jnice

Distinguished Member
Nov 19, 2020
73
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How is commercial contracts practice different from m&a/pe/corporate? how would trainees' and lawyers task differ and what different skills would be required? I am struggling to understand the difference cause don't all practice areas deal with contracts and commercial works?
I don’t think all firms have distinct corporate and commercial contracts practices. If a firm does not have a distinct commercial contracts team, the corporate dept will review commercial contracts.

I assume that a commercial contracts practice focus on drawing up, analysing/interpreting commercial contracts e.g., supply/distribution agreements, joint venture agreements etc.
A corporate practice deals with M&A/ PE transactions (dependent on how a law firm organises its practice areas). It focuses on facilitating transactions/deal execution/advising on sales and acquisitions. For example a clear separation that I can think of is if there is a purchase transaction of a business, as part of a due diligence process, a corporate practice would review documents relating to a target’s ownership structure (shareholders’ agreements/articles of association, statutory books etc), whereas a commercial contracts practice would review documents relating to the target’s commercial agreements as listed above. Others included service contracts, franchising, technology arrangements, advertising contracts etc.
 
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