This article is written by Nayantara Chowdhuri, pursuing a Diploma in Entrepreneurship, Administration and Business law from LawSikho.This article endeavours to locate some of the key skills required by an M&A lawyer.

Effective communication skills

One would need to be able to understand and articulate the legal and business complexities of long drawn M&A transactions precisely and succinctly and communicate the same to the client as well as the other side while you are negotiating the deal.

The key is to commit to complete clarity, and in that regard, good communication skills are a bedrock skill that cannot be dispensed with. The client would benefit from comprehensible information that would provide practical answers to legal and strategic problems that they would encounter in the course of their business.

One would need to communicate with other lawyers within the team, external counsels while instructing them, with people across the table, and with clients and with courts or regulators when necessary.

Sound understanding of commercials

A sound understanding of commercials is necessary, without which any deal is rudderless. It is impossible to be a good commercial lawyer without being able to take apart a deal, and understand it for its complexities and specifications. To be able to understand the nitty-gritties of the financial underpinnings supporting any deal is of foremost importance. It is not enough to understand the bare essentials. One must know exactly how to counsel and oftentimes comfort their client in the event of any regulatory storm-clouds or in cases where there are roadblocks to a deal. Lawyers work beyond simply providing readings of the law. The whole idea behind seeking a merger and acquisitions lawyer’s insights is to make the transactional aspects clear and to know how to steer the deal in the right direction. Law firms must be able to effectively map out a SWOT (Strengths, Opportunities, Weaknesses, and Threats) analysis, whereby they are able to chart out the strengths in a deal, and also know how to tackle weaknesses that might show up.

There are many challenges which show up in the course of a business, and where a lawyer is an advisor to a business entity, they must know the about the workings of the business and be able to wear the hat of a business-person  in order to work out how to act in the best interest of that entity.

Theoretical Astuteness

A keen understanding of statutes and fresh developments in the law is also encouraged. Most statutes are enigmatic patchworks of complex text that require a thorough understanding.  There are new developments in the law from time to time, and the lawyer is expected to be up to date with new notifications made by regulatory bodies, new formalities (if any) that have been put in place, and a way to override any difficulties with the use of the law.

Fantastic drafting skills

Good drafting can be likened to a stellar work of art. It requires a lot of care and work. The interest of the client would have to be kept in sight, and the lawyer must be able to clearly align the client’s interests, and crystallize them into legal clause form. There is, naturally, a need to have a knowledge of the contents of key documents which are exchanged between parties in a transaction and to understand to the last letter, what those terms are essentially saying.

The idea, also, is not to be wordy and to keep advice concise and easy to grasp.

Usually, templates of drafts are in place, but the work is never done unless the terms are looked at with individual attention. Vague or general information is bad news, and must be avoided at any cost.

Risk-taking abilities, and nerve.

There is no decision making in the world of business, without an element of risk. In order to think in the client’s shoes, the lawyer would also have to assume the sense of adventure with which a businessman would move. There is no place for fear, and it is never advisable to start out on a nervous footing.

Self-assuredness, and a calm mind.

To be able to power on through situations that are trying and tough is what determines the success of a corporate lawyer. Transactions are often fraught with risks, and to be able to find one’s way through that with resolve, and confidence of a positive outcome is what is the making of an astute transactional lawyer.

Effective multitasking

Law firms work at breakneck speed, oftentimes there is cross-departmental work happening. Most often, there is decision-making happening at different levels, and merger and acquisitions lawyer would have to have the ability to overcome decision-fatigue, and effectively address issues arising out of sophisticated transactions which would touch on many aspects of the law. To be able to prioritize the activities which are of higher urgency, deal with the same and then put those aside and go on to the next significant responsibility is what every lawyer must be properly able to do. It is not possible to complete many things at once, and although multitasking is really at the heart of effective commercial lawyering, there has to be a prioritizing effort, before any activity is undertaken.

Research skills: The ability to isolate useful information.

At the heart of all good lawyering, is some pretty sound research. The client would ultimately have to be provided with answers to specific and pointed legal questions, which the lawyer would have to answer to a fair degree of certainty, without including irrelevant facts. The inclusion of extraneous information cannot be a substitute for the essentials, and queries must be satisfied with appropriate answers.

Problem-solving skills. 

To be able to process and analyze complex materials, and make practical sense of the issues therein, is an essential skill. Finding a tenable and workable solution is the next step. Problem-solving is a critically important quality that every commercial lawyer must possess. To be able to isolate and identify possible pitfalls to a deal, and to firefight where it comes to challenges faced within the transactional specifics, is truly the making of a good commercial lawyer.

The power of persuasion

Sharp and effective negotiation skills are what is required by every M&A lawyer to effectively carry out the goal of deal protection. Bargaining skills are hugely necessary in this regard, and its importance cannot possibly be overstated. To be able to eke good value out of a deal is something of paramount importance. Dealmaking rests on uncompromising bargaining capacity and ferocious protection of deal terms. Lawyers must be able to hold on to their client’s side of the bargain and protect their interests, and this can only be done through sharp negotiation skills.

Students of Lawsikho courses regularly produce writing assignments and work on practical exercises as a part of their coursework and develop themselves in real-life practical skill