Areas of practice While at law school students learn all areas of the legal system, as they advance in their career lawyers tend to specialise in certain areas. Just as doctors may become cardiologists or surgeons or endocrinologists, lawyers can choose from a rich variety of areas in which to practise. As a clerk, students will generally perform ‘rotations’ through 2-3 practice areas to gain an idea of where their interests lie. Similarly, as a graduate one would also perform a number of rotations which would then lead to then specialising in a certain area. Information about a number of common practice areas is outlined below. This list is by no means exhaustive. Mergers & Acquisitions M&A deals with the process of companies combining with other companies, either as a partnership (a merger) or as an owner-subsidiary relationship (an acquisition). This process involves a huge amount of logistical effort, on both sides of the transaction. M&A lawyers’ roles are to facilitate this transition. This involves transactional work in drafting documents for due diligence, so both parties can fulfil their legal obligations. It would also involve drafting and negotiating new legal structures outlining the respective rights of each party in the new framework as well as how it affects each side’s respective shareholders/ owners. As M&A often occurs across national borders, lawyers in this area may have to work alongside international counterparts, creating a need for flexible working hours and an understanding of transnational legal frameworks. Banking & Finance Banking and finance law is a diverse field dealing with a number of areas relevant to the operation and regulation of the financial system. While specialities exist, the common thread is drafting and negotiating agreements dealing with the borrowing and lending of money. Some example of this include: • Financial services regulation: legal work ensuring baking clients are compliant with legislation regulating financial services • Asset finance: enabling the purchase, selling and operation of assets. This can include a wide variety of goods such as ships, machinery or property • Project finance: facilitating the financing of public works and infrastructure, where the borrowed amount are gradually paid back with revenue generated by the completed project Intellectual Property Intellectual property (IP) law is concerned with the rights of people who hold intangible assets, usually associated with inventive works such as technology or art. IP lawyers advise their clients to protect their rights in respect to four main types of property, trademarks, copyrights, patents and design law. IP lawyers engage in transactional work such as patent registration or licensing agreements, as well as litigious matters such as advising a client on how to approach infringements on intellectual property. IP law is rapidly evolving, with several leading cases being decided in past 15 years. This necessitates practitioners in this area to remain up-to-date with the most recent shifts.
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