Students Will Practice Business Acquisition Skills at Upcoming Transactional Conference
Rutgers Law School students studying transactional law will get to put their knowledge to work at a two-day competition that tests their skills in negotiating a business acquisition, as counsel for both buyers and sellers. The Transactional Competition is an academic initiative organized by the law school and the Rutgers Center for Corporate Law and Governance.
On April 7 and 8, students enrolled in the Transactional Competition Course being taught by Professor Yuliya Guseva and Adjunct Professor Ira Marcus will take part in a Transactional Competition at Rutgers Law School’s Newark location. Starting at Noon on Friday, April 7, students will work in teams, representing either the buyer or the seller in a business acquisition. The students will have marked up prior to the competition an asset purchase agreement that will be used in the negotiations. Each two-student team will take part in three rounds of negotiation during competition. The first two will be held on Friday afternoon and the final round will take place on Saturday morning.
After each of the rounds, the judges, who are experienced practicing attorneys from New York and New Jersey, will review the markups, observe the negotiations, score student performances and provide feedback to the competitors. The professors say they hope their students learn transactional skills during the innovative competition. Rutgers has modeled its program after one developed by Professor Charles K. Whitehead at Cornell Law School.
The goal of the transactional competition is to provide law students who aspire to practice as transactional lawyers an experience comparable to the experience moot court provides to future litigators.
In the course description, the professors said “It is important to prepare our students not only to argue cases and predict how judges will decide cases, but also to counsel clients engaged in buying and selling businesses and to help them manage transactional risks and structure and draft agreements. In brief, transactional practice calls for new skills, which cannot be gleaned from casebooks.”
Several area law firms are sponsoring the competition, including Duane Morris, Drinker Biddle & Reath, Saul Ewing, and Saiber.
At 11:45 a.m. on Saturday, after the final round, all the students and the judges will meet in the Baker Trial Courtroom. At that time, the first-place buyer’s team and the first-place seller’s team will be awarded plaques evidencing the Sam Saiber Transactional Competition Award. These two first place teams will then demonstrate their skill in an abbreviated negotiating session and the judges will provide general feedback to the participants. The competition will conclude no later than 1:30 p.m.