Students enrolled in Professor Karl Okamoto's Transactional Lawyering class took part in the "Drinker Biddle vs. Drexel LawMeet" at the Drinker Biddle law offices in Philadelphia on April 20.
Transactional Lawyering is a hands-on skills course which places students in the role of dealmakers, negotiating and crafting agreements in scenarios that mimic real-world transactions. For the final class this year, Earle Mack School of Law students went head to head against experienced transactional lawyers from Drinker Biddle to negotiate the acquisition of an innovative cosmetics website which uses an algorithm to match ancient cosmetic remedies with their modern-day equivalents. As the teams sat across the table from each other they tried to work out a term sheet which would later serve as the framework for a full blown agreement.
At the conclusion of the negotiations, Drinker Biddle partners Scott B. Connolly, H. John Michel, Jr. and Matthew M. McDonald from the firm’s Corporate and Security Practice Group engaged in a discussion with the students recommending how they would have structured the deal. The partners commented on the complexity of the transaction and appeared impressed by the students’ performance.
Professor Okamoto provided some final commentary observing that “the Drinker Biddle LawMeet is not only a great chance for students to get a taste of what it is like to engage in real world transactional work but also an excellent opportunity to interact with professionals in an environment where these kinds of deals take place every day.”
The Drinker Biddle event concluded an exciting semester of transactional law simulations, including the IP LawMeet and Transactional LawMeet throughout the semester.