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Anyone hearing any crazy bar exam stories?
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Favorite track off of 30?
Anyone hearing any crazy bar exam stories?
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I thought transactional attorneys just rubber stamped what their clients wanted and the litigators cleaned up the mess.
More like litigators defend their clients against people who see them as an unguarded piggy bank, in my experience.
Plaintiffs’ counsel don’t count 😉
Rising Star
What’s the point of this reduction
I’m not sure it has a point other than to be pithy. I heard a litigation partner say it a few years ago and I thought it was interesting and provocative. I’m curious as to what others think.
No. Both types of lawyers are transaction costs. It is the nature (voluntary vs. involuntary) of the transaction that is the overarching distinction.
I'm a transactional attorney and I feel like much of my job is convincing clients you have to spend money to make money. Bc a lot of them think its enough to have the business "deal" that makes them money but don't always want to spend money on legal to get it closed. I'm RE so maybe M&A is different
Chief
Can we all agree to settle on “attorneys bill against their client’s wealth”?
Chief
Nah. Clients bring problems to their lawyers. Lawyers (good ones anyway) fix those problems. So yeah that costs money but good lawyers are valuable.
Chief
Litigation is about protecting value. Transactional work is about creating value. But attorneys do not create those deals.
I heard a reformed litigator say that deal attys help clients put a machine or car together (sometimes with duct tape and wd40) and litigators come in when the car breaks down (either to make it run to sell for parts).
As a litigator, I don't know of any skill my transactional associates have that I don't, beyond admin in executing deals. You want litigators to write your contracts because we know where the fault lines are and how to shore them up.
every so often you see a business dealmaker who feels counsel is more than a necessary evil, parasitic to their efforts.
like, now and then. but I think "create client wealth" would still make them bristle as a description of what their outside counsel do.