Transactional lawyers are often seen as the negotiators of the legal world. Requiring enough aplomb to sway the mediator, and enough aggression to push for the best possible deal for their client, transactional lawyers often need to walk a tightrope of rhetoric and resolve. However, by adhering to the tips below, you can ensure the most favourable settlement always lands on your side of the table in a legal transaction.
Manage expectations
Barrister Dr William Higgs stresses the importance of understanding your client’s perceived outcome – and being realistic about it.
“The most important aspect of a transactional lawyer’s role is knowing what your client wants and challenging that expectation,” Dr Higgs said.
“The world has become much more connected over the past decade, so transactional lawyers now work on cross-border deals. Clients expect transactions to be completed much faster. As a transactional lawyer, you need to have confidence in your knowledge and ability to close that loop.”
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Reverse engineer
Dr Higgs suggests that transactional lawyers apply their far-spanning knowledge of the law to their transactions.
“Become familiar with different types of commercial transactions and break them down into their component legal parts,” he said.
“Then think about the commercial and structuring aspects of the transaction. Attention to detail is a must.”
See link below to what the College of Law say about Transactional Lawyers