Sink or swim: the difference between study and practice

In practice, it soon becomes clear that the law degree you studied at university and the Legal Practice Course (LPC) you recently completed are but mere steps towards becoming a newly-qualified solicitor.

Having qualified, though,
there are some things to reflect
on regarding the differences of studying and practising law.

Don’t tell me the law

A client has a question. They come to you for advice and solutions – not the law.

A client doesn’t want section numbers, case references, or historical background information on how the law has developed. Instead, they want a piece of advice in a format they can easily digest and which outlines some solutions to their problem.

You don’t always do ‘law’

Some very important tasks, particularly in transactional departments, are often of a non-legal nature. For example, take a standard refinancing involving a UK borrower, whose obligations are guaranteed by several of its group companies based across the US. The transaction will of course involve a set of legal documents but the logistics will also need to be carefully considered and managed.

Time is money

At university, it can feel as if you have all the time in the world to study cases.

However, in practice, your working day very rarely goes to plan. The to-do list you started your day with has probably increased by lunch time and task number one has been replaced with an even more urgent task from a different colleague for a different client.

Money talks

You will not only have to start thinking about the law, but also law firm business. At university, you could work independently in the library to churn out a first class essay. In practice, everything you do has a cost and an impact on the day to day running and profitability of the firm.

Job done?

So you have used your legal knowledge and analytical skills to conclude there has been a breach of contract. Job done? No.

This is not university any more. Identifying a breach is step one. The next steps will be to embark on the litigation process: complete the relevant court forms, draft the relevant papers and make filings with the court. How much will you quote for this work? What will be the cost of your time to the client against the value of their claim? Is it worth pursuing litigation or should a settlement be reached? Just because one is legally entitled to pursue rights and remedies does not mean one should always pursue them. SJ

To read Luke’s article in full, head to www.younglawyer.co.uk to read the latest issue