Hi
@Audric_T , I’m unsure about the specifics on DLA’s assessment process, but I’ll take a stab on your second question.
Commercial awareness is a crucial skill in the law firm application process, and it’s one that requires consistent effort to build and maintain every day. I always say this – it’s not just about skimming through the Financial Times(FT) every morning. It’s about truly understanding the fundamentals, even the smaller details: for instance, knowing the definitions and distinctions between types of loans or bonds, and understanding how fiscal policy differs from monetary policy. It’s about balancing theoretical knowledge with an awareness of current affairs, as both are equally essential.
For case studies, commercial awareness can encompass a range of knowledge. Take an M&A case study, for example. It’s important to understand practical concepts like the differences between drag along and tag along rights, the role of due diligence, or how a change of control clause could impact the deal. On a broader level, having knowledge of landmark M&A deals – such as the proposed merger between Microsoft and Activision Blizzard – shows not only that you are up to date, but also that you understand how such deals shape the legal and business landscape.
In terms of building commercial awareness, I recommend starting with accessible resources like Finimize, LittleLaw, or ZipLaw. These are great tools for breaking down complex commercial concepts into digestible pieces. From there, podcasts like the FT News Briefing or The Economist Podcasts can keep you updated on global business and economic trends in a conversational format. You can also reinforce this knowledge by subscribing to the FirstFT newsletter, which summarises the main developments of the day. Highlighting a couple of key stories daily and delving deeper into how they affect businesses and their legal teams will help solidify your understanding.
When it comes to incorporating commercial awareness into law firm presentations, it’s essential to weave it in naturally rather than forcing it. Demonstrate how you view commercial trends through a legal lens, aligning them with the firm’s values and the role of a trainee solicitor. For group exercises, the collective knowledge of your team can be a real asset. Everyone brings their own perspective, so it’s important to contribute your insights while being open to learning from others. Together, you can craft a well-rounded, commercially aware presentation that showcases collaboration and critical thinking.
As you prepare for your assessment centre and beyond, adopting this structured approach will help you develop commercial awareness as a habit rather than a chore. Personally, these resources and strategies have been invaluable to me, and I’m confident they’ll help you as well.
I’m sure
@Jessica Booker @Ram Sabaratnam and
@Andrei Radu will have more thoughts on this.