Training Contract Commercial Awareness Questions (and Model Answers)

In this section of the application we are looking for evidence of commercial and business awareness:

A prospective new client is looking for a law firm to act for them in a cross-border dispute. How would you position the firm and what elements or features of the firm would you highlight in order to try and win their business? (250 words max)*

I would position Reed Smith Reed Smith as an international leader in complex litigation and other high-stakes disputes, cross-border and other strategic transactions, and crucial regulatory matters. I would highlight to the client that Reed Smith has 23 offices that span three continents and that London is currently the largest with over 500 people. I would that that Reed Smith has lawyers from coast-to-coast in the United States, as well as in Europe, Asia and the Middle East, which makes it renowned for its experience across a broad array of industry sectors. Reed Smith counsels 13 of the world's 15 largest commercial and savings banks; 8 of the world's 15 largest oil and gas companies; and the world's three largest pharmaceutical distribution and wholesale companies. I would highlight the firm’s practices and industries which enable the firm to draw from its global expertise in devising and delivering seamless solutions to businesses of all types. Reed Smith is particularly well known for its work advising leading companies in the areas of financial services, life sciences, shipping, energy and natural resources, advertising, technology and media. I would add that Reed Smith provides a wide range of commercial legal advice for all these clients, including a full spectrum of corporate, commercial and financial services, dispute resolution, real estate and employment advice. I would bring it to the client’s attention that Reed Smith’s core values are quality, innovation and improvement which will add value to the client’s business.

Who are Reed Smith’s main competitors and how does Reed Smith differentiate itself from the firms you name? (250 words max)*

Reed Smith’s main competitors are Baker & McKenzie LLP, [law firm], Arps, Slate, Meagher and Flom LLP and Clifford Chance LLP. Reed Smith differentiates itself from its competitors through its focus and expertise in financial services, life sciences, shipping, energy and natural resources, advertising, technology and media. Reed Smith counsels 13 of the world's 15 largest commercial and savings banks; 8 of the world's 15 largest oil and gas companies; and the world's three largest pharmaceutical distribution and wholesale companies. Unlike its counterparts who may appear to be focused solely on individual practice areas, Reed Smith provides its clients with a wide range of commercial legal advice, including a full spectrum of corporate, commercial and financial services, dispute resolution, real estate and employment advice which is reflected through its core value of client satisfaction and innovation. Reed Smith differentiates itself from its competitors through its unparalleled expertise in complex litigation and other high-stakes disputes, cross-border and other strategic transactions, and crucial regulatory matters. This is achieved through its unique structure that encourages teamwork across all of its 23 offices which allows Reed Smith to draw from the expertise of its international offices that have a good knowledge of the local markets to provide clients with innovative and seamless solutions and which results in client satisfaction, which is reflected by Reed Smith’s prominent client base.