Frequently Asked Questions
What is the National Transactional LawMeet?
The National Transactional LawMeet is the premier interscholastic competition for law students interested in transactional practice. Future litigators have scores of “moot court” opportunities that provide them a courtroom experience. The Transactional LawMeet provides future business lawyers a taste of “doing deals.”
When and where will the LawMeet be held?
The Regional LawMeets for the 2018 National Transactional LawMeet will be held on February 23, 2018, in eight regions across the country. The top two performing teams (one from each side of the case) at each Regional LawMeet will participate in a National LawMeet held at the offices of Sullivan & Cromwell LLP in New York City on Friday, March 30, 2018.
How many members are on a team? How many teams can each law school have?
Teams must consist of two or three members (JD, JM, or LLM students) but only two can participate in any given round. The third may only participate in a given round as an observer. Teams may not have more than three team members participate in the LawMeet. Teams can use other students in an advisory capacity, but no more than five team representatives may attend the regional negotiation rounds — 3 student negotiators, 1 advisor, and 1 observer.
Individual students may not compete on their own, all students must participate in a team.
Each school may register three teams, but each team must compete in a different Regional LawMeet.
As a law student, how can I participate?
Participating teams are generally selected by a faculty advisor at each law school. How a faculty advisor selects team members varies from school to school. If you would like to know who the faculty advisor is at your school or if you would like to register a team, please email us at firstname.lastname@example.org. While some schools select teams through a faculty sponsor, other schools select teams through student organizations. Similar to Moot Court Boards, many schools are creating Transactional LawMeets Boards to facilitate practical learning experiences for students interested in a transactional practice. To learn more email us at email@example.com.
How do teams prepare for the LawMeet?
All teams will be working on a common transactional problem. Each team will be provided with a case statement that sets out the factual background for the problem and introduces the parties to the transaction. All teams will be provided with a precedent form of agreement. Teams will also receive a video recording of an interview with their respective client and will have an opportunity to communicate with their client as they prepare the proposed draft agreement. While we may suggest research links, generally teams will be left on their own to figure out and find the resources they require.
Bloomberg BNA, a sponsor of LawMeets, has also generously provided a Transactional Law Resource as well as a Bloomberg Law Resource to help teams prepare for the LawMeet.
What are the requirements for the team advisor? Are there restrictions on the resources and help we can use to prepare?
Every team must have one Designated Team Advisor.
A Designated Team Advisor may advise more than one team from the same school. Each Designated Team Advisor must be either a faculty member or a transactional lawyer with at least five years’ experience. The Designated Team Advisor must commit to meeting (in person and/or by conference telephone/video) with the team at least three times to discuss:
- The Case Statement, Client Interview, and team’s questions regarding potential resources,
- The Draft, and
- The Mark-up and preparations for the Regional negotiation rounds.The Designated Team Advisor is not required to accompany the Team to the negotiation rounds.
The Designated Team Advisor will be invited to one optional group conference call to review the Case Statement. This call will give the Designated Team Advisor an opportunity to clarify any issues that have arisen and ask questions about the process.
It is expected that teams will work primarily on their own in drafting the proposed agreement and mark-ups and in preparing for the LawMeet. Only two team members will be allowed to negotiate in a given round and no other person may be present or consulted during that round. Generally, teams are expected to use and rely upon their own, independent work product. Keeping this general principle in mind, there are no restrictions on the outside resources, including outside experts such as practitioners and law professors, that a team may consult in developing their independent work.
How much work is involved? Can I receive course credit?
The time commitment is a decision you and your teammates must make. Past Transactional LawMeet teams have reported spending “hundreds of hours” preparing for the LawMeet. Many schools offer participants in the LawMeet course credit (similar to moot court teams). This is a decision of each individual law school and should be discussed with the faculty advisor.
Are there any prerequisites or recommended prior course work for participating in the LawMeet?
Generally, we assume that team members will have completed their 1L year (although 1L students are free to participate) and have taken the basic business law course. However, there are no prerequisites. The LawMeet is open to any interested student.
Can LLM students participate on a team?
Yes, JDs, JMs, and LLMs may participate.
What exactly will we be required to do and by when?
For the Regional LawMeets, each team will be required to submit a proposed draft agreement by February 2, 2018. In addition, each team will be required to submit a mark-up of a draft agreement submitted by one of the teams it will encounter during the the Regional LawMeet. The mark-ups are due on February 16, 2018. Teams that advance to the National LawMeet will have an opportunity to submit a revised draft agreement by March 9, 2018, however revisions are not required. Teams advancing to the National LawMeet are required to submit a mark-up of the draft agreement from one of the teams they will negotiate with during the preliminary rounds of the National LawMeet by March 23, 2018. To see the full timeline, visit our Schedule page.
What happens at the LawMeet?
At the LawMeet, teams participate in “rounds,” each one and a half hours long. During each round, teams come together to attempt to resolve the open issues and reach an agreement for the benefit of their respective clients. These rounds are conducted before a panel of experts from practice who judge each team’s performance and provide feedback to the teams at the end of each round.
What should I do if, during the LawMeet, I receive a draft agreement to red-line and it is already red-lined?
If you receive a draft agreement to mark-up and it still shows comments and changes from the team that wrote it, destroy the document immediately and email firstname.lastname@example.org. We will contact the team that wrote the draft and obtain a clean copy for you.
What if I registered a team but can no longer participate?
Unfortunately, participation in the LawMeet is non-refundable. If your team is no longer able to compete, we urge you to find a replacement team.
The case statement for this year’s LawMeet will be distributed on Friday, December 15, 2017. Before that date, all registered teams will receive access to a team-only website. The website will include complete team instructions and other relevant information. In the meantime, if you have any questions, please feel free to email us at email@example.com.