what is a commercial transactional attorney

Full Answer

What is transactional lawyering?

Transactional Lawyering - the practice of bringing people and companies together through thorough research of process, due diligence, documentation, and negotiation. This guide introduces some of the best sources of information for new lawyers doing transactional work, whether that is M&A, Real Estate, Corporate Formation and Finance, or Tax.

Where can I find a treasury of transactional law?

A treasury of models, solutions, and guidance for the transactional attorney, treating virtually every type of business deal with adaptable, transaction-tested forms, extensive commentary, and alternative solutions. Available online via Westlaw. Don't Reinvent the Wheel! You don't have to start from scratch when drafting documents.

What are the different types of lawyer specialties?

Some lawyers rarely set foot inside a courtroom, while others work primarily for large companies. The two main categories, no matter what the specialty, are transactional and litigation law.

What does Transactional mean in law?

Transactional law is a type of practice that deals with business and commerce. Transactional lawyers help their clients deal with contracts and other types of transactions.

What are considered commercial transactions?

Commercial transactions is generally defined as some sort of payment for a good or service. There are many forms of commercial transactions, including those that occur between two separate businesses, consumers and businesses, businesses and government entities and between internal divisions of a company to name a few.

What does transactional work include?

Transactional work includes legal guidance about business contracts, agreements, and lease negotiations. A transactional attorney can also file tax documents on behalf of your company.

Do transactional lawyers write memos?

Although a transactional practice does not typically involve researching and writing briefs for court, it does involve researching the current state of the law, including the formal and informal statements from regulatory agencies, and writing memos on what you've found.

What is a non commercial transaction?

In such transactions, one party receives a real or financial asset from another party and, in return, provides nothing of economic value.

What is involved in commercial law?

Commercial law is a broad term covering anything that City law firms do. Commercial lawyers handle a broad range of corporate deals. Clients of the firm include banks, insurance companies, hedge funds, private equity funds, property companies, governments and governmental agencies.

What do commercial lawyers do?

Commercial lawyers help businesses trade and work on a wide range of commercial agreements dealing with the manufacture, sale, supply and distribution of goods and services, as well as identifying and establishing the best routes to market, which could be via an agency, distribution or franchise model.

How do transactional lawyers add value to business transactions?

The hypothesis that transactional lawyers add value by minimizing the potential for ex post litigation. This hypothesis predicts that lawyers add value to transactions by anticipating and minimizing the likelihood that failure of the transaction will result in litigation.

Is transactional law contentious?

Non-contentious legal work does not involve a dispute. It could either be transactional, for example advising a party on the sale of their business or the grant of a tenancy, or it could be advisory, such as providing tax planning advice.

Why is legal writing so hard?

“Using center-embedded clauses is standard writing practice in legal documents, and it makes the text very difficult to understand. It's memory intensive for anyone, including lawyers,” Gibson adds. “This is something you could change and not affect the meaning in any way, but improve the transmission of the meaning.”

What is corporate transactional work?

Transactional practice involves researching, preparing and reviewing the documents that bring individuals and companies together: from contracts for large corporate mergers and acquisitions to the closing documents for the purchase of a house.

How can I write better legally?

10 tips for better legal writingCheck verb tense. A singular subject should have a singular verb and a plural subject should have a plural verb.Note word placement. ... Stay active. ... Placement matters. ... Use the Oxford comma. ... Utilize comma splices correctly. ... Avoid ambiguity. ... Aim for clarity.More items...

What is the role of a commercial transaction attorney?

In many instances, the commercial transactions attorney must now assist the client in finding or creating business opportunities.

What is scope of work and legal fees?

The scope of the work and legal fees must be discussed at the outset. The fee arrangement must be confirmed in a fee letter or agreement. The client should understand that the attorney is in the business of selling legal and related services, and the attorney should know that the client is entitled to expect and receive competent and timely legal services for a fair fee.

Written Fee Agreement

The scope of the work and legal fees must be discussed at the outset. The fee arrangement must be confirmed in a fee letter or agreement.

Free Initial Consultation with a Commercial Lawyer

When you need a transactional commercial attorney, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

What is transactional lawyer?

However, the term "Transactional" is a bit vague. It refers to the legal practice of bringing people and/or companies (or other organizations) together to make a deal.

What is the best place to start researching transactional law?

Lexis's Practice Advisor , Westlaw's Practical Law, and Bloomberg Law's Transactional Intelligence Center are good places to start researching transactional law areas. These resources are designed for practitioners — both new attorneys and attorneys new to these areas of law. They offer relevant laws & regulations, secondary sources, practice guides, outlines & checklists, model agreements & forms, and drafting tools.

How to toggle between Westlaw and Practical Law?

Starting in Westlaw, click on the small menu icon in the upper left corner to toggle between the (standard) Westlaw and Practical Law platforms. You can browse the various "Practice Areas" to focus on a particular type of transaction or area of law ( e.g., Bankruptcy & Restructuring, Corporate and M&A, Labor & Employment, Real Estate, etc.).

What is a securities law treatise?

A comprehensive eleven-volume treatise that provides essential information covering a wide array of topics concerning securities law. This definitive treatise is an exhaustive classic work that is the foundation of every securities library. The authors' analysis of all relevant statutes plus thousands of cases and SEC administrative decisions and letters clarifies virtually all questions that subscribers have on securities law.

Where is the transactional intelligence center in Bloomberg?

Starting in Bloomberg Law, click on the "Browse" link in the upper left, then click on "Transaction al Intelligence Center" in the menu that pops out from the left side.

Where is the practice advisor tile in Lexis?

Starting in Lexis Advance, click on the tiles in the upper left corner to find the tile for Lexis Practice Advisor. You can browse the various "Practice Areas" to focus on a particular type of transaction or area of law ( e.g., Corporate and M&A, Labor & Employment, Real Estate, Tax, etc.).

What is Fornaro Law?

Fornaro Law is a growing firm that grasps technology such as the internet, blockchain, and cybercurrency like Bitcoin. Fornaro Law’s streamlined implementation of systems elevates the firm and its client to a higher level. We are seeking a commercial and transactional attorney to join our talented team who is well organized, detail oriented and adaptable with the willingness and ability to learn and implement a defined prioritization system. The successful candidate will have at least 5 years experience as an attorney with transactional and commercial real estate experience, and general management of case files. Demonstrable analytical and problem solving skills, strong written and verbal communication skills and proficiency in Microsoft Word, Outlook and Excel is required. This is an exciting and challenging position that will allow you to grow as a professional.

What is a draft correspondence?

Draft correspondence on behalf of landlords to commercial tenants’ management and counsel relating to claims, defenses, and other disputes arising under lease agreements.

Why is there a premium on being able to master general transactional law?

Moreover, I am a firm believer that these days there is a premium on being able to master general transactional law because things are changing so quickly. If you understand the basics, you’ll be less intimidated by that change and capable of responding to, or even leading, the legal response to changes in the global economy and commercial landscape.

How many attorneys are in Milbank?

Milbank boasts one of the most dynamic and prestigious corporate practice groups in the country. The group includes more than 445 attorneys with a wide range of educational backgrounds and work experiences. Rod Miller, a partner in the firm’s New York office and a member of the Capital Markets Group, recently answered some of the most frequently asked questions he hears from law students and associates about pursuing a career in transactional law.

Is an MBA required for transactional law?

Our program, Milbank@Harvard, for example, has Harvard Business School professors teaching our mid-level associates finance, accounting, marketing, and management. I think it’s important to have that understanding, particularly for mid-level associates, but having formal business courses, let alone an MBA, is certainly not a requirement for a successful career in transactional law.

What is transactional attorney?

Transactional attorneys often write contracts or work behind the scenes: They may consult with litigation attorneys about potential issues that could lead to lawsuits to try to write contracts that are complete enough to avoid any breach of contract lawsuits.

What does a personal injury lawyer represent?

For example, a personal injury attorney can litiga te for an individual and can sue the person who caused the injury, or represent a client being sued for injury.

What are the two main categories of attorneys?

Some lawyers rarely set foot inside a courtroom, while others work primarily for large companies. The two main categories, no matter what the specialty, are transactional and litigation law .

Is a lawyer a litigator?

Since most companies don’t regularly engage in litigation, their in-house counsel is generally not a litigator. Litigation attorneys represent clients who are suing or being sued: Litigation attorneys negotiate settlements or go to court when their clients are sued or need to sue someone.

Do companies have in-house lawyers?

Some companies have in-house transactional attorneys, but few have in-house litigators: If a company writes a lot of contracts or needs a lot of behind-the-scenes legal advice, they may hire an attorney to be on the staff of their company.

Do transactional attorneys go to court?

Transactional attorneys do not go to court: They work behind the scenes, writing contracts, doing real estate closings, and otherwise doing legal work that doesn’t involve going to court. Transactional attorneys do not handle lawsuits: Transactional attorneys aim to help their clients avoid litigation through the preparation ...