PwC Legal Training Contract Application Model Answers
Imagine you are working at PwC Legal. If you could choose an ideal client to advise, who would it be? Your ideal client does not have to be a current client of PwC Legal.
In answering these questions please provide us with answers to the following:
• Who is your ideal client and what services do they provide?
• What services and advice could PwC Legal offer this client?
• What commercial/industry issues are affecting this client in the business market that should be taken into account when a providing them with advice?
My ideal client would have to be British Airways (BA). BA is a full service global airline, an extensive global route network. The airline flies to and from centrally located airports and offers flights around the world. PwC Legal could offer BA advice on a potential merger with Spanish airline Iberia. British Airways and Spanish airline Iberia say they have reached a preliminary agreement for a merger expected to be completed in late [year]. The merger, which must be approved by the European Commission, would create the world's third biggest airline. The merger will create a strong European airline well able to compete in the 21st Century. This could be problematic especially because news of the deal did not go down well with Virgin Atlantic, one of BA's big competitors in the UK, which raised concerns about the new company's market share. This would mean that PwC Legal would have to offer BA advice on potential competition law issues regarding its dominant position in the market. Currently, a High Court judge is expected to decide later whether to allow British Airways an injunction against a planned 12-day strike by cabin crew. PwC Legal could provide BA with legal services and advice on employment law matters, especially in the area of strike actions. PwC Legal could offer BA help on the balloting procedure required for recognition of the right to strike by the ‘Unite’ trade union. PwC Legal could have argued that Unite's strike ballot was invalid, because it included BA staff who were leaving the company and therefore would not be working for it during any strike. Currently, BA is affected by the economic crisis as both BA and Iberia have been losing money during the downturn as businesses and individuals cut back on flying. Mr Walsh has previously said a merger would help both firms cope with the recession. PwC Legal should therefore take into account the financial position of BA in the airline industry so as to devise the most efficient and cost-effective solution that would increase BA’s competitiveness amongst other airlines in a very volatile industry. This would also mean that PwC Legal would have to consult PwC regarding the BA’s international performance. This would entail PwC Legal having to evaluate BA’s financial performance in different countries and devise a holistic and integrated solution that would be advantageous to BA’s overall position.
What do you believe distinguishes PwC Legal from other law firms?*
Firstly, I am attracted to PwC Legal because it has a very strong working relationship with PwC which enables its lawyers additionally to work in multicompetency teams of business advisers delivering complete solutions to a variety of complex business problems. The firm recognises that today's lawyers must adapt to the changing needs of clients and must offer more than just legal services. By adopting a multi disciplinary approach working alongside experts within PwC, solutions are not pigeon-holed under the disciplines of accountancy, tax and law, and PricewaterhouseCoopers Legal LLP (through its relationship with PwC) provides its clients with a single seamless offering of legal, tax and consultancy expertise. Last summer I have worked for [law firm] where I recognised the importance of commercial awareness especially when studying clients’ place of operation and their activities. I discovered that by conducting research into clients’ industries allowed the firm to produce more tailored and time effective solutions to their clients. This pragmatic approach was crucial in delivering a competitive advantage to the client even more so in today’s knowledge-based economy where short-term horizon investments dictate a firm’s profitability. Secondly, I am attracted by PwC Legal’s intake of a small number of trainees. Being in a small intake will vest me with more responsibility much sooner, which is undoubtedly beneficial for my learning and development. It will allow for a larger amount of work to be allocated to me, thus enabling me to become more familiar with the type of work that I am expected to do. The effect of this is that I would become more efficient, allowing me more time to take on the more challenging types of work. I would also become a dependable part of the team, which in turn brings more responsibility. Socially, a smaller intake results in the development of stronger friendships and a more inclusive intake. Thirdly, being a part of a very integrated but international legal practice with commercial expertise at hand would allow me to interchange between [language], [language] and English languages. This flexibility would therefore avail me with an opportunity to work on cross-border issues with PwC and PwC Legal thus allowing me to learn to deliver solutions to clients from commercial and legal angles. This opportunity to concurrently practice law commerce and law will enable my learning trajectory to grow at a steeper rate, therefore making my work at PwC Legal both personally and professionally rewarding.
Other Potential Things to Include in the PwC Legal Training Contract Application Answers
PricewaterhouseCoopers Legal LLP (formerly Landwell) is a member of the PricewaterhouseCoopers international network of firms. It is a niche law firm with close working relationships with the business specialisms of PricewaterhouseCoopers LLP (PwC) as well as network firms across the world, giving the firm access to over 1,300 business lawyers in 63 countries.
The firm delivers services through key divisions including areas of specialisation such as corporate restructuring, M&A and private equity work, intellectual
Depending on the transaction type, the firm's lawyers work either on a domestic standalone basis or as part of a wider team of company lawyers from the international network. Its strong working relationship with PwC also enables its lawyers additionally to work in multicompetency teams of business advisers delivering complete solutions to a variety of complex business problems.
The firm recognises that today's lawyers must adapt to the changing needs of clients and must offer more than just legal services. By adopting a multi disciplinary approach working alongside experts within PwC, solutions are not pigeon-holed under the disciplines of accountancy, tax and law, and PricewaterhouseCoopers Legal LLP (through its relationship with PwC) provides its clients with a single seamless offering of legal, tax and consultancy expertise.
The firm wants to see applicants with a genuine interest in business law and the ambition to be part of a new model of legal practice. In return, it offers you something unique. The firm's relationship with PwC means you will work alongside experts in PwC as part of a multi disciplinary team which differentiates PricewaterhouseCoopers Legal LLP from the majority of existing law firms. While the quality of the work and the excellence of the training can match those of any traditional law firm, the lawyers at PricewaterhouseCoopers Legal LLP spend a significant part of their time working alongside clients and other professionals as part of a unique approach to the provision of integrated business services.
We help our clients manage their commercial and compliance risk and successfully navigate the web of regulations and relationships that make up today’s business environment.
We solve a wide range of business needs for our clients from day-to-day advice on commercial problems, producing standard contracts and negotiating with new partners or customers, to more complex needs arising from transactions, outsourcing or disputes.
Beyond the usual commercial legal advice, our team also has experience in creating innovative supply chain and tax structuring projects through close co operation with management consultants, logistics and tax experts in PricewaterhouseCoopers. These can involve migrating from a distributorship or agency model to a commissionaire or limited risk structure, or centralising business functions and developing shared service centres, or establishing new intra-group arrangements to achieve tax or operational efficiencies. As part of an international network, we can advise on multi-territory projects in over 70 countries.
We help our clients with cross border compliance advice, audits and policy reviews in a wide range of risk areas including consumer protection, sales promotion and product liability. Our regulatory practice also has a strong focus on data protection, data management and environmental law.
PricewaterhouseCoopers Legal LLP is a member of the PricewaterhouseCoopers international network of firms. It provides clients with a unique style of integrated legal advice on complex commercial projects requiring a range of complementary specialists from other parts of the PwC network. The firm also offers clients a general counsel service and access to an extensive global network, including locally qualified legal expertise in over 70 countries and immigration law services in 115 countries.
Principal areas of work
PwC Legal has substantial experience in providing advice on a wide range of areas including commercial and tax litigation; corporate and commercial structuring; mergers and acquisitions; formation of regulated and unregulated funds; financial services compliance and regulation; banking; immigration; intellectual property, information technology and data protection; real estate; contracts; employment; governance and legal compliance.
Working alongside market leading experts from PwC in tax, human resources services, corporate finance, investment funds and financial services regulation, the PwC Legal team provides innovative, commercially aware solutions to some of the most challenging business issues.
PwC Legal has an extensive client base across the FTSE200; banks, funds and other financial institutions; middle-market companies; large private businesses and high net worth individuals.