We are inundated with requests and questions on the above subject almost on a daily basis. With a very limited bandwidth to impart practical training to limited professionals / students, we find it daunting to respond to each one individually.
So, here you may find answers to most of your questions.
1. Why
There are innumerable students /professionals experiencing the following challenges when it comes to contract drafting, review or negotiation skills:
- Law students whose law school does not have a dedicated programme / course enabling students to learn legal drafting / contract drafting.
- Young lawyers (recent passouts) who were not exposed to these skills and are facing challenges in getting suitable corporate law jobs.
- Seasoned lawyers who started as litigation lawyers but now wish to switch to corporate practice or have become inhouse counsel, face the challenge.
- Company Secretaries / Management Professionals / Chartered Accountants who come across contracts day in day out and are supposed to be engaged with negotiation, drafting or review thereof as a part of their work profile.
Even if the above set of professionals would have studied legal drafting of some level of the other, they'd lack review and negotiation skills since it is not part of the curriculum in most of the educational institutions.
2. What
This is a program to strengthen contract drafting, review and negotiation skills of professionals / students who want to upskill themselves.
3. How
The discussion is in online mode at mutually convenient and agreed time (late evenings on weekdays or day time over weekends).
- Regular and Effective Communication. Mentee and me ('We') communicate frequently and effectively, agreeing on the frequency, mode, and agenda of our interactions to ensure productive mentorship.
- Utilisation of Templates / other Tools. I advise the mentee how to orgnaise / leverage templates and other tools effectively for contract drafting, review, and negotiation, enhancing their efficiency and effectiveness in these processe.
- Social and Emotional Support. Mentorship provides not only guidance on the technical aspects but also social and emotional support to the mentee, creating a supportive environment for learning and growth, similar to a peer mentor relationship.
- Personal Experiences. We share our own experiences and insights from dealing with contract drafting, review and negotiations to provide practical examples and real-world scenarios for mentee's better understanding and learning. This way see what we are doing right, what is wrong, and what needs tweak.
- Career Goals. Mentorship assists mentee in setting clear career goals related to contract drafting, review, and negotiation, and guide mentee on the path to achieving these objectives effectively.
- Feedback and Guidance. I provide constructive feedback on mentee's contract drafts and negotiation strategies, along with continuous guidance on improvement areas and best practices.
- Continuous Learning. We discuss how to stay updated on contract law developments, negotiation techniques, and industry trends to continuously enhance their skills and knowledge in this area.
- Guarantee. The communication is understandable, the mentee feels more confident about his/her contracts skills after undergoing mentorship, and can recap everything in a jiffy if engages in discussions / follows the suggestions seriously.
4. How is it different from online courses?
The most common question is about the difference. Here are few:
a. Mode of Delivery
Online courses are self-paced programs delivered through digital platforms, requiring individuals to work through modules on their own.
Personalised mentoring involves one-on-one guidance, feedback, and support from a mentor, focusing on individual goals and needs.
b. Interaction
Online courses lack direct interaction with instructors and peers big time, relying more on pre-recorded lectures and study material.
Mentoring emphasises on real-time communication, feedback, and dialogue between the mentor and the mentee, fostering a closer relationship and customised learning experience.
c. Guided Learning
Online courses require self-discipline and intrinsic motivation but there could be limited personal accountability or guidance.
Mentoring requires trust between the mentor and mentee, entails tailored guidance, encouragement, and support throughout the learning journey.
d. Flexibility and Customisation
Online courses offer flexibility in terms of timing and pace but may lack the adaptability to address specific individual needs.
Mentoring allows mentee-centric customised learning plans, addressing personal strengths, weaknesses, and learning preferences through personalised strategies.
e. Quality
Material for some online courses may be copied from unreliable sources and / or prepared by students / others with no practical experience.
On the other hand, you seek mentorship only with someone who is well-known and experienced in a particular domain.
f. Discipline
In online courses, there's no compulsion to complete. You may do it whole-heartedly, half-heartedly, or drop it altogether.
Mentorship requires dedication, hard work and discipline, otherwise, you can't expect results.
g. Cost
You may find online courses from Rs. 99 onwards, as it a mass product. There is no filtration of applicants.
Mentoring requires a mentor's personal time, focused on just one or two mentees. The mentees are serious people, looking for upskilling themselves, not merely seeking a certificate to add to millions of certificates they already hold. So, it costs substantially more than most online courses.
Price is what you pay, Value is what you get. So, it boils down to what are you more concerned about - the price or value?
Under mentorship you aren't seeking a validation or certificate but real, practical, cutting-edge knowledge which may be a differentiator between you and others.
5. The Mentor
Bhumesh Verma , who is an international corporate lawyer with 30 years legal practice, author of best selling books on the subject, and a Guest Professor on the subject with top Indian law schools.
6. Outline of the Discussion
The tentative outline is as under (cusomisable as per the existing knowledge / experience of the mentee):
- Current State of Contract Drafting Process and its shortcomings
- Why to Draft Contracts (rather than lifting a readymade template)
- What is Effective contract drafting
- Contract as Storytelling / Sales Pitch
- Preparation before Drafting
- How to optimise working on templates
- Different Kinds of Contracts – Difference between MOUs and Contracts
- Layout and Sequence of a Contract
- Drafting different critical clauses
- How to approach each clause from a different party's perspective
- Reading between the lines
- Expediency, Economy, Effectiveness in a Contract
- How to create value, optimise outcomes, foster relationships, create win win situations
- Looking at the Big Picture
- Transactional vs. Relationship approach
- Negotiation Skills – What, When, How
- Developing Negotiation Strategies, do's and don'ts
- Interactive simulations and role play
- Managing conflicts, building trust
7. Learning Outcomes for a mentee
- Solid foundation: Basic principles of contract law, essential clauses, and boilerplate language.
- Clarity and precision: Draft clear, concise, and unambiguous contracts, avoiding legal jargon and technicalities.
- Tailoring to context: Learn to adapt contracts to different types of agreements, industries, and client needs.
- Identifying and addressing risks: Recognise potential contractual pitfalls and draft language to mitigate them.
- Effective representation: Understand how drafting choices impact a client's interests and bargaining power.
- Critical analysis: Analyse contracts to identify key terms, obligations, and potential red flags.
- Understanding the other side: Evaluate a contract from the other party's perspective and anticipate their concerns.
- Asking the right questions: Know what information to gather and inquiries to make for thorough review.
- Identifying amendments addendums: Recognise the need for changes and suggest appropriate revisions.
- Communication and persuasion: Effective Communication to articulate client interests and build rapport.
- Active listening: Understand the other party's needs and priorities to find common ground.
- Concession-making techniques: Learn effective ways to give and receive concessions without compromising client interests.
- Ethical negotiation: Understand and uphold ethical principles.
- Interactive learning: Implement diverse learning methods like simulations, role-playing, and drafting exercises for practical application.
- Feedback and reflection: Personalised feedback and self-reflection to improve skills.
- Exposure to real-world scenarios: Realistic case studies bridging the gap between theory and practice.
- Decorum and Etiquettes : Introduce mentees to professional settings.
8. Mentee Profile / Requirements
Mostly, the mentees are law / management students, inhouse counsel, litigation / corporate lawyers, chartered accountants, company secretaries and management professionals with 0-25 years of experience.
The mentee is supposed to be serious and hardworking, preferably with basic knowledge of contract law (it reduces the mentorship duration).
9. Batch Size
Professionals : 1 or 2
Students : 1 to 5
Corporate Team : Can discuss
10. Duration
Depends on a mentee's existing knowledge and pickup during the mentorship.
11. How to start?
For more information, contact us on ccl@corpcommlegal.in with your latest cv, particularly with experience of contract drafting skills.
Originally published by 28 May, 2024
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.