fee earning tasks

Question 1

what is bundling?

Answer 1

producing hard copy and/ or electronic folders of documents usually in connection with court proceedings or investigations

Question 2

what is bibling?

Answer 2

once a deal is completed, trainees are usually asked to create a transaction bible which will contain all/ main documents

Question 3

what is document review?

Answer 3

reviewing the clients’ the other sides’ and third parties’ documents to ascertain what’s been going on and to find evidence to support their arguments claims or defences

Question 4

what is due diligence?

Answer 4

• is typically carried out by transactional teams
• it is where a company and its advisers carry out an in depth investigation into a variety of aspects of a company to gain a solid understanding of that company’s business and/ or market and to check if there may be any issues that could affect a deal

Question 5

what is verification?

Answer 5

refers to the process of checking statements made throughout a draft company prospectus to ensure they’re accurate and supported by evidence

Question 6

what is a prospectus?

Answer 6

a legally required document that must precede bond or share issues
it advertises the issue to investors and contains issues about the issuer’s business, the potential risk, financial circumstances and the terms and conditions

Question 7

what is project management?

Answer 7

trainees will typically be responsible for coordinating a range of client related work-streams.
this can involve chasing internal teams for input/ advice, answering questions from other teams, coordinating paralegals and PA’s, keeping records

Question 8

what is drafting?

Answer 8

drafting and/or amending documents, including engagement letters, NDA’s, board minutes and corporate authorisations, powers of attorney, and a range of area-specific documents

Question 9

what are some potential other transactional tasks?

Answer 9

may be involved with drafting companies house forms, incorporating or dissolving companies, carrying out company searches, IP related searches, preparing legal steps plans

Question 10

what is research?

Answer 10

something that I will be asked to carry out as a trainee
can include:
research into a specific point of law
research into a company
research into legal processes/ procedures

Question 11

what is proofreading?

Answer 11

checking spelling/ grammar/ format/ structure of documents
ensuring defined terms have been used consistently within documents
ensuring cross-references are accurate within documents