\u201cI\u2019m most nervous about the uncertainty,\u201d said Sona Sosa, a first-year Temple Law student.\u00a0 Dressed professionally and holding her briefcase she elaborated: \u201cEverything has been thoroughly explained to us, but there is a lot of mystery surrounding today.\u201d<\/p>\n
Sosa was preparing for her final negotiation in the Introduction to Transactional Skills Program at Temple Law School, Friday, October 13, 3017.<\/p>\n
The Introduction to Transactional Skills Program (or ITS) at Temple Law is a two-week experiential learning program for first-year students, which began in the fall of 2011.\u00a0 Every 1L takes the one-credit course, which is unusual, if not unique, in that it gives first-year students hands-on exposure to business-transactions practice.<\/p>\n
The ITS students are asked to imagine that they represent Carly Whitman or Emeril Bourdain, two friends who together want to open a restaurant in Philadelphia. \u00a0Carly, a wealthy investor, has agreed to finance the business, and Emeril, an up-and-coming chef, has agreed to be the Executive Chef.<\/p>\n
The students were grouped into small classes of about a dozen, and then split into pairs. In pairs, they began the process by interviewing their \u201cclient\u201d\u2014either Emeril or Carly\u2014played by teaching assistants, in order to learn what the client wanted, needed, could not accept, and so on.\u00a0 Thereafter, the pairs were matched with counterparts from another class representing the other side, to negotiate and draft a term sheet and an employment agreement.<\/p>\n
Over the two weeks, faculty coached students through new legal concepts such as non-compete clauses, exclusivity, and severance pay.\u00a0 But, the students were the \u201clawyers,\u201d and controlled the negotiations and drafting.<\/p>\n
With the term sheet and employment agreement for each quartet concluded, the ITS program culminates in a final negotiation where practicing attorneys from the Philadelphia area visit for the afternoon in order to observe the students negotiate and give them constructive feedback.<\/p>\n
This leads to Sosa\u2019s \u201cmystery\u201d:\u00a0 She was nervous because the final negotiation this past Friday, October 13th<\/sup> culminates in a \u201csurprise\u201d for the students.\u00a0 This last round involved a new fact scenario that was revealed to them only thirty minutes before the final negotiation.\u00a0 Using this information, students must quickly develop a strategy based on their existing deal, and their knowledge of their client\u2019s goals, in order to advance the client\u2019s interest and come to an agreement, if possible.<\/p>\n Attorneys who came to observe the first-year students lauded the professionalism and skill of the 1L\u2019s. \u00a0Many said that they participate because of the importance of the program to their careers. \u201cI actually went into transactional work,\u201d said Coryell Barlow (LAW \u201815), an associate at Cozen O\u2019Connor and ITS-alum, stated.\u00a0 \u201cI wanted to see how far I came since my time in the program. I want to see if I can help the students . . . and provide constructive feedback on anything they can relate to on an associate level.\u201d<\/p>\n Another observer, Enrique Marquez, (LAW \u201812), a tax litigator for the City of Philadelphia, explained, \u201cI have a special place in my heart for Temple Law. I run a practicum with Temple Law students and they\u2019re not only the best students, but the best professionals.\u201d He continued, \u201cI come back to give back . . . and though you can donate, and I do, I feel this is much more substantive. If I can help anybody reach the next level, or give a tip to help anybody get through the maze of law school, I\u2019m going to do it.\u201d<\/p>\n I come back to give back . . . and though you can donate, and I do, I feel this is much more substantive.<\/p><\/blockquote>\n ITS this year was spearheaded by Professor Andrea Monroe, who led a dozen teachers and teaching assistants, 184 students, the Law School\u2019s technology and other administrative services, fifty volunteer lawyers.\u00a0\u00a0 \u201cI am very happy with the outcome,\u201d Professor Monroe said. \u201cAnd now, we\u2019re on to planning next year!\u201d<\/p>\n Chloe Mullen-Wilson is a second-year law student at Temple. Chloe graduated from Seton Hall University in 2016 and spent this past summer interning for the firm Stradley Ronon LLP.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" First-year law students negotiate the best deal for their client in Temple\u2019s Introduction to Transactional Skills Program<\/p>\n","protected":false},"author":5,"featured_media":1330,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16,17],"tags":[437,438,439,163,440,441,442,107],"coauthors":[2,436],"class_list":["post-1328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-law-school-and-legal-education","category-student-authored","tag-client-relations","tag-deals","tag-its","tag-law-school","tag-negotiation","tag-restaurant","tag-students","tag-transactional-skills","masonry-post","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"yoast_head":"\n
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