Transactional Negotiation Team
The Transactional Negotiation Team is a growing program that in 2013-14 is in its fourth year of offering students a “moot court-like” experience in a transactional setting.
Team members are given a complex business problem and, after research and analysis, develop a strategy for representing their client in the matter. They draft a term sheet or an agreement presenting their client’s proposal for completing the transaction, then review and respond to drafts prepared by the students representing the other side of the prospective deal.
The students go through two self- and peer-reviewed practice rounds, then face off for two additional weeks in a round-robin negotiation competition that is judged by practicing transactional lawyers who offer feedback and mentoring to the competing students. The judges address not only the negotiating style and technique each team member uses, but also the substance of the deal strategy the student employs.
As a result of the judges’ comments and the students’ personal assessment of the effectiveness of their efforts on behalf of their clients, the students revise their document drafts and re-circulate them for comment and response prior to the commencement of a single elimination tournament, also judged by experienced transactional lawyers. The first round of the tournament together with the four preceding rounds of negotiation, means that each student has a minimum of five evaluated rounds of negotiation. The Finals of the 2013-14 tournament will take place in Burns Lounge on April 22, 2014, in association with a reception for students considering or participating in the Corporate Law Concentration, which will include the award of certificates to all the team members and the presentation of a trophy to the winner of the Finals. In addition, an alumni sponsor has agreed to fund the award of gift certificates to each of the Semi-Finalists ($250) and Finalists ($500).
The 2012-13 Finals were judged by eleven lawyers, including alumni and others who practice transactional law. The judges, as well as all the team members, their friends and family, business law faculty and representatives of the dean’s office, all participated in the reception).
The Transactional Negotiation Team is a one-unit, pass/fail activity offered in the Spring semester. In Spring 2014, it is scheduled in the late afternoon and early evening on Tuesdays. An informational meeting for interested students will be held each Fall, in September in order to allow students to consider the team prior to Spring semester registration. Business Planning I must be completed prior to participation on the Team. In addition, in 2015, Mergers & Acquisitions must be taken either prior to or concurrently with participation on the Team. The team is limited to sixteen students.
Questions about the Transactional Negotiation Team should be directed to Business Law Practicum Director Dana Warren at firstname.lastname@example.org.