How To Be A Great Corporate Lawyer

By Author: Arpita Basu
Total Articles: 1
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Average lawyers abound, good lawyers are common, but great corporate lawyers are hard to find. What is the mantra that makes a good lawyer GREAT? Great lawyers love what they do and it is this passion towards their work that separates them from mediocrity.

Step 1. Know your subject & law thoroughly. In-depth and sound understanding of the substantive law is a must. Know your subject, its nuances, interpretations and important case laws to have a command on the law that you are practicing. No amount of communication or writing skills can gloss over the lack of knowledge in law which comes from continuous reading & practice. Repetitive reading of law with an open mind brings different connotations and opens the door for creative interpretations. I have personally read the same clause differently at different times with a new perspective each time.

Step 2. Know the facts crisp & clear. Complete understanding of the facts of the transaction helps correct application of law as law applies differently to different facts. No two matters are similar so grasp the facts correctly to assess an issue. Misreading ...
... of a fact may change the entire structure and the end result sought to be achieved. My senior and mentor in law late Mr. J.K. Gupta had the ability to get to the crux of matter by sheer power of crisp reading and clarity of thought. I continuously strive for that clarity.

Step 3. Understand the objective sought to be achieved. Empathize with the needs of your client, dynamics of the transaction and what is intended to be achieved. Alignment with the objectives of your client coupled with certain analytical & assessment skills helps in gaining long lasting confidence of the client. One possible way of gaining this insight is by having an earnest need to know your client's business and by feeling the passion he/she feels for the issue.

Step 4. Know your environment. Make a conscious effort to read new developments in the practice area that you are specializing in; understand its dynamics, rules and regulations, latest amendments and changes in law and the transactions closed in the sector. This will help in gaining the confidence of the client and also structuring the transaction better. Client's expectation from a good corporate lawyer is usually a mix of good legal understanding and sound commercial assessment/advice.

Step 5. Keep the Right Attitude. It is the attitude that separates mediocrity from greatness in any profession. Sincerely loving the work that you do makes all the difference to the advice given. Believing in the work one does and the clients one represents is important to ignite that all so important passion - so therefore do not accept briefs that you not go well with your own belief system. There are times when I refuse briefs/transactions that require me to render advice or undertake work that goes fundamentally against my value system. Reinforcement of one's commitment towards work and aiming for the satisfaction of the client also helps.

Step 6. Focus on interpersonal relationship and be available when it matters the most. Learn to listen (and not only hear) to the viewpoint of not only your clients but also your opponents, support team, and other associates. Watch closely how they think and what makes them happy - stroke their achievements. Being intuitive and perspective is one of the toughest part of being a great lawyer and being available for most part of the day is the other. However, accessibility brings trust and dependability - so go for it.

Step 7. Have an eye for detail. Pay attention to details and be methodical in going through the checklist required to close each transaction. Or else hire someone who can assist you with that work. Shortcuts can lead you and your client to some serious mistakes - ensure that the advice is not only complete but is also duly implemented. For instance, it is not only important to close an investment transaction in an M&A deal but is equally important that the follow up conditions required are duly fulfilled or implemented. One of the common slip that I occasionally note is that endless effort is spent in carefully negotiating the terms of the acquisition & shareholders agreement but post acquisition, the investor either fails or forgets to insist on amendment of the articles of association to record the terms & conditions of the shareholders agreement, making most of those rights unenforceable. So keep at it till the last condition is satisfied.

Step 8. Develop objectivity and a holistic approach. Learn to Step back and take a holistic view of the matter and then structure a transaction. Of course the ability to assess the strengths and weaknesses of a matter does not come overnight but by experience and habit of pondering over every detail.

Step 9. Know your weaknesses. Get out of your ego trip and identify not only your strengths but also your weaknesses. Either work on your weakness or hire a support who compliments you as a team. It is better to work on your weaknesses than to pretend that you are not. As a corporate lawyer, communication and writing skills are important so work on that area if this needs attention.

Step 10. Grow a team. There is only so much time in a day - therefore learn to identify talent and nurture them as a team. One never wins a battle alone - surround yourself with a capable support team who does all the good work under your capable supervision.

Step 11. Be honest with your clients. Last but not the least, being honest and transparent with your client never hurts either you or your clients. Watch out to understand the difference between creative structuring and adventurous advice bordering potential violation. Advise your client clearly on the merits and pitfalls of what is being proposed and then Step back to let your client take the decision. For instance, in PE investments in public limited companies, the funds usually negotiate for various combinations of exit options which are generally unenforceable under India laws vis a vis a public limited company.

But most PE funds nevertheless insist on a motivating factor that keeps me going is my passion for work, satisfaction of my clients and the sheer joy it gives these rights under an investment transaction.In my experience as a corporate lawyer, the single largest me. There are no classes that one can attend to become a great lawyer - what ultimately counts is the way we approach our profession and I still have miles to go...

The author is a founding partner of a Delhi based law firm LexCounsel and is a corporate and commercial. I would be happy to receive your feedback or inputs or additional points that I may have missed in our journey of being a Great Lawyer.

Lawyer Areas of Practice :

Infrastructure, Telecommunications, Power, Mergers/Acquisition, Software/Information Technology, Business Process Outsourcing, Media & Entertainment, Private Equity and Venture Capital, General Corporate and Commercial, International Arbitration.

Professional Summary:
Seema Jhingan's practice spans over sixteen years during which she has acquired substantial expertise in representing developers, sponsors/lenders, venture capital investors, international corporations, financial institutions, and other strategic investors involved in the establishment, development and financing of major infrastructure and IT projects in India.
Seema is a Partner with a Delhi Based Law Firm LexCounsel Law Offices and regularly contributes to journals and publications and often takes up speaking engagements at national and international forums.