CORPORATE LAW – The Truth [Money, Sleep, Travel]

Summary

The video script discusses the pivotal role of lawyers in significant life events, such as marriages, property purchases, and disputes. It differentiates between transactional lawyers, who facilitate deals and events, and dispute lawyers, who intervene when issues arise. The speaker emphasizes the importance of being organized and structured, particularly when dealing with complex legal matters and communicating with clients who may not be well-versed in legal jargon. Empathy is highlighted as a key trait that distinguishes good from great lawyers, as it enables them to understand their clients' needs and provide tailored advice. The video also touches on the personal qualities admired in colleagues, such as being aware of each other's lives outside of work, which fosters a healthy work-life balance. Practicality and the ability to provide clear, actionable solutions are also praised. The script acknowledges the demanding nature of the legal profession, with some lawyers facing all-nighters and late nights, but also notes that it varies by individual and firm. It concludes by mentioning the opportunities for travel within the corporate law field, as well as the importance of a good night's sleep for maintaining performance and well-being.

Takeaways

• 🤵 Lawyers are often involved in significant life events such as marriage, property purchase, and death.
• 📚 There are two main categories of lawyers: transactional lawyers who facilitate making things happen, and dispute lawyers who help when things go wrong.
• 🧐 Being organized and structured in thought is crucial for a lawyer, particularly when dealing with complex subjects.
• 🤔 Good lawyers need to be able to understand and apply the law, while great lawyers also demonstrate empathy and put themselves in their clients' shoes.
• 👥 Working with colleagues who are aware of and interested in your life outside of work can lead to a healthier work-life balance.
• 🌐 Travel is often a part of corporate law, with opportunities to work on international projects and disputes.
• 🌟 Practicality and the ability to quickly come to a practical answer are qualities that are admired in good lawyers.
• 🏙 For those interested in a London-based legal career, there are opportunities to specialize without the need for extensive travel.
• 😴 Getting a good night's sleep can be challenging in the legal profession, with some individuals reporting sleep deprivation due to demanding work schedules.
• ⏱️ Long hours and occasional all-nighters are not uncommon, especially during the trainee phase of a legal career.
• 🔄 While the job can be demanding, it also offers opportunities for personal and professional growth, including international exposure.

Q & A

What is the general role of a lawyer in significant life events?

A lawyer typically assists and guides individuals or companies through major life events such as marriage, purchasing a house, or in the event of death.

How are lawyers categorized in terms of their practice?

Lawyers are generally categorized into two types: transactional or facilitative lawyers who help make things happen, and dispute lawyers who assist when something goes wrong.

What are some personality traits that are helpful for a lawyer to possess?

Being organized, structured in thought, and able to present things clearly are beneficial traits for a lawyer. Additionally, being empathetic and able to understand the client's perspective is crucial.

What qualities differentiate a good lawyer from a great one?

Great lawyers are those who can be empathetic, put themselves in their clients' shoes, and understand the client's needs beyond the strict legal answer.

Why is it important for a lawyer to be organized in their thoughts and presentation?

Organization in thoughts and presentation helps a lawyer to deal with complex subjects and communicate effectively with clients who may not be sophisticated in legal matters.

What is the importance of understanding the law and applying it?

Understanding and applying the law is a prerequisite for being a successful lawyer, as it forms the basis of providing accurate legal advice and representation.

What are some qualities that the speaker admires in their colleagues?

The speaker admires colleagues who are aware of what's going on in their lives, show understanding, and can work with others in a natural and communicative way.

How does the speaker define a practical lawyer?

A practical lawyer is one who can quickly assess a situation and come up with a practical solution, cutting through complexities to address the issue at hand.

Does corporate law require travel?

Yes, corporate law can involve travel, especially in departments like project finance or international disputes, where lawyers may need to travel for project work or witness interviews.

What opportunities does the speaker's firm offer for those interested in international work?

The firm offers opportunities to work in different global offices, with the speaker having spent time in Moscow, SAP, and planning to go to the Paris office, indicating a diverse and international work environment.

How does the legal profession affect sleep patterns for some lawyers?

The legal profession can be demanding, leading to instances where lawyers may have to sacrifice sleep, with some reportedly getting only four or five hours of sleep on a regular basis during the week.

What does the speaker do to ensure a good night's sleep?

The speaker tries to get a good night's sleep from Monday to Friday, having given up drinking caffeine in the afternoon to improve sleep quality.

Outlines

00:00

📚 The Role and Types of Lawyers

The first paragraph discusses the integral role of lawyers in significant life events such as marriage, property purchase, and death. It outlines two main categories of lawyers: transactional or facilitative lawyers who help make things happen, and dispute lawyers who intervene when issues arise. The paragraph also touches on the importance of being organized and structured in thought and presentation, especially when dealing with complex subjects or clients unfamiliar with legal matters. Empathy is highlighted as a key trait that differentiates good from great lawyers, as it enables them to understand the client's perspective and needs beyond the strict legal answer.

05:00

🌍 Travel and Commitment in Law Practice

The second paragraph delves into the aspect of travel associated with certain legal practices, particularly those involved in international disputes or large-scale infrastructure projects. It shares personal experiences of the speaker, who enjoyed living and working in different countries during their training contract. The paragraph acknowledges the flexibility of corporate law, allowing lawyers to choose between international exposure and a more localized practice. It also briefly touches on the demanding nature of the job, including the occasional need for all-nighters and late nights, and the importance of maintaining a good work-life balance, including getting a good night's sleep.

Keywords

💡Lawyer

A lawyer is a professional who practices law, providing legal advice and representation to clients. In the context of the video, lawyers are involved in significant life events such as marriage, buying a house, or dealing with death. They guide clients through legal processes and disputes, which is central to the video's theme of the role of lawyers in major life events.

💡Transactional Lawyers

Transactional lawyers, as mentioned in the transcript, are a category of attorneys who specialize in facilitating deals and transactions. They help clients to make things happen, such as business deals or property transfers. This is an important aspect of the video's discussion on the different types of lawyers and their roles.

💡Dispute Lawyers

Dispute lawyers are legal professionals who specialize in resolving conflicts and disputes that have arisen. They are often involved when something goes wrong, as highlighted in the transcript. This keyword is significant as it represents another main category of lawyers, contrasting with transactional lawyers.

💡Organization

Organization refers to the ability to arrange resources, ideas, or work methodically and efficiently. The transcript emphasizes the importance of being organized, particularly in thinking and presenting information clearly. This is crucial for a lawyer, as they often deal with complex subjects and need to make them understandable to clients or in a court of law.

💡Empathy

Empathy is the capacity to understand and share the feelings of another. The video discusses how being empathetic is a key quality that differentiates good lawyers from great ones. It involves putting oneself in the client's shoes and understanding the client's perspective, which is vital for providing legal advice that is not just legally sound but also client-centric.

💡Corporate Law

Corporate law involves the legal aspects of business and corporate governance. The script mentions corporate law in the context of different departments within a law firm, indicating the breadth of work that can be done in this area. It is significant as it shows one of the many specializations within the legal profession.

💡Travel

Travel is a common requirement for some areas of law, particularly for those involved in international disputes or large infrastructure projects. The transcript discusses how lawyers may need to travel for their work, which can be an attractive aspect of the job for those who enjoy new experiences and different cultures.

💡Work-Life Balance

Work-life balance refers to the equilibrium between work responsibilities and personal life. The video touches on this concept when discussing the demands of the legal profession and the importance of having colleagues who understand that one's life extends beyond work. It underscores the importance of maintaining a healthy balance to prevent burnout.

💡Practicality

Practicality is the quality of dealing with situations in a sensible and realistic way. The transcript mentions looking up to colleagues who can quickly assess a situation and come up with practical solutions. This is a valued trait in lawyers, as it allows for efficient problem-solving and decision-making in complex legal matters.

💡International Disputes

International disputes refer to conflicts that involve parties from different countries, requiring specialized legal knowledge and often cross-border cooperation. The video script mentions international disputes as part of a lawyer's work, particularly for those in the dispute practice, highlighting the global nature of some legal work.

💡Sleep Deprivation

Sleep deprivation is a state of inadequate or lack of sleep, which can negatively affect one's health and performance. The transcript acknowledges that the demanding nature of the legal profession can sometimes lead to sleep deprivation. It is mentioned in the context of the sacrifices that lawyers may have to make due to the pressures of their work.

Highlights

Lawyers are typically involved in significant life events such as marriage, buying a house, or death.

There are two main categories of lawyers: transactional lawyers who facilitate events, and dispute lawyers who help when something goes wrong.

Organization and structure in thinking and presentation are crucial for a lawyer.

Lawyers often deal with complex subjects and need to simplify them for clients who may not be familiar with legal jargon.

Empathy is a key differentiator between good and great lawyers, as it helps in understanding the client's perspective.

Understanding the law and its application is a prerequisite for being a lawyer.

The ability to ask questions and not assume empathy is important for a lawyer, even if it doesn't come naturally.

Lawyers should be organized, but the speaker admits to not being particularly organized themselves.

Colleagues who show interest in one's personal life and maintain a work-life balance are admired.

Having perspective and being able to work and communicate naturally with colleagues is important for a lawyer.

Practicality and the ability to quickly provide practical answers are qualities to look up to in a lawyer.

Corporate law offers opportunities for travel and working on international projects.

The speaker enjoyed their international experiences, including working in Moscow, SAP, and Switzerland.

Opportunities for travel and international work are available but depend on the department and role within a law firm.

Work-life balance can be maintained even within a demanding profession like law.

The legal profession can be demanding, with clients requiring sacrifices in personal time, including sleep.

The speaker tries to get a good night's sleep during the week and has had to work all-nighters during their career.

There is an acknowledgment that sleep deprivation is not uncommon in the legal profession.

Transcripts

if you think about all the important

things that people or companies do in

their lives there's usually a lawyer

involved so you know if you get married

if you buy a house you if you die but

all those sorts of things whenever

there's a big event that happens you

typically have a lawyer to help you with

that and help help guide you through

that and that's really what we do for

our clients is if there's something big

that's happening for them then we'll

help to guide them through it within

that there's probably two real

categories of lawyers there's and

transactional lawyers or facilitative

lawyers who and who very broadly help

people to make something happen and then

there's disputes lawyers who tend to

help if something's gone wrong

[Music]

it could be people could be company

sometimes we do have countries as well

yeah and it really sort of depends is

there anyone any kind of type of

personality who absolutely should not

become a lawyer

I think being reasonably organized and

kind of structured in the way that you

think and kind of present things is

really really helpful

quite a lot at the time we're dealing

with tricky subjects and where we're

speaking to people who perhaps are not

sophisticated in those subjects

sometimes clients might be going through

a dispute and they've never been through

this before for example and so we have

to take things that seem quite open by

complicated and kind of put them in a

way which makes sense or we have to take

and really technical legal arguments and

put them together in a way which makes

sense both for the client and for you

know perhaps judge or someone like that

so I think having being organized

generally but also I suppose being

organized in your thoughts and the way

that you kind of put things together is

is really helpful what makes a good

lawyer and I'm gonna ask that through I

want which aspect of your personality oh

god if I throw two cars are horrible

where you say elves like best aspects of

his personality for being a lawyer are

and that's brilliant you need to be able

to understand the law and apply it I

think is is is sort of a prerequisite to

be honest to be if you can't do that and

you probably not gonna get very far I

think more other kind of personality

basis and I think really what what

differentiates between good lawyers and

really great lawyers is people who can

be empathetic people who can put

themselves in their clients shoes and

understand really what it means to them

you know to be asking the questions that

they're asking yeah because sometimes

they're kind of the strict legal answer

might not be the best one for the client

yeah and so it's really being able to

kind of understand what it is that your

client wants that I think it really

makes a difference

didn't your empathetic I try to be a

lawyer I ask a lot of questions so even

if I'm perhaps not the naturally most

empathetic person

I'm very conscious of probably the worst

aspects of my personality and I'm having

said that lawyers should be organized

I'm not particularly organized which if

you pick one and what makes you admire

them what are the qualities that if you

like make that person someone to look up

to I think my colleagues who kind of

know what's going on in my life they

kind of ask questions and they

understand that you know my life doesn't

end when I walk out the door right and

they're probably the best people to work

with really because you know you can

probably bond with them but also and it

gives you I suppose a bit of perspective

on what it is that you're doing at work

and I think that that's that's really

healthy I also think that tends to make

people who you know really good lawyers

to be honest and having a bit of

perspective and being able to kind of

work with those people around you

communicate with them in a natural way

and I think is really really important I

mean I also really like working with

practical people so you know the

colleagues I look up to other people who

really quickly look at a situation and

and come to a kind of practical answer

to be honest and and can kind of cut

through the noise and I suppose the

people that I really look up to and the

people who do that really well and

really quickly

in terms of becoming a lawyer at

corporate

yes is it a prerequisite to travel it

greatly reduce person's family I mean

one of the great things about coming and

joining a firm like this one is you can

you can pretty much still do what you

want you know within within the bounds

of kind of corporate law like we have

several different departments and within

those departments they do lots and lots

and lots of different things and some of

those will necessarily involve travel if

you work in the project finance team for

example and you'll be working on massive

infrastructure projects all around the

world so it's probably something yeah

exactly that's probably quite likely at

some point you're gonna have to be a bit

of travel similarly in our dispute

practice we do lots of international

disputes so it's quite likely that at

some point you're gonna have to go and

do a witness interview somewhere for it

yeah I've been really lucky and micro I

love travelling I love living in

different places it's something that

really attracted me to coming and doing

this job in particular yeah and during

my training contract I spent six months

in our Moscow office and you have months

in our SAP our Wow and both of which

were awesome totally different working

environments and really different jobs I

love them both and since then I I spent

a few months working for a client in

Switzerland as well I'm shortly gonna be

off to our Paris office for a while so

if you know you're interested in doing

that sort of thing those opportunities

definitely are there and they're

definitely available for you and you

just kind of have to share that up

similarly if you know if you're if

you're pretty set you want to be a

london-based lawyer and this is what you

want to do lots and lots of people do

that as well you're here

[Music]

how often do you get a good night's

sleep I try and get a good night's sleep

Monday through Friday

[Laughter]

why would you if you wake up you're like

ah I see I mean I say that like sleep

like seven hours most right okay

get old now so I've given up I've given

up drinking caffeine in the afternoon

right I probably don't sleep as much as

I should but yeah there are elites you

hear about other people in the legal

profession all in other firms or maybe

other jobs sort of getting four or five

hours sleep at night on a regular basis

during the week yeah I think I think you

know it definitely does happen it does

happen and I think it would be wrong to

sit and say that it doesn't I think I've

had to do two all-nighters in my career

when I was a trainee I did a few late

nights and I worked amount of social

hour it's broadly speaking for me ours

hasn't been a kind of a huge issue but

as I say it's a hard job

it is demanding and clients are

demanding and you know it kind of comes

with the territory that once in a while

and you know you probably are gonna have

to make sacrifices