Why Study Law Abroad?

I have had the pleasure of attending law school abroad at Koç University in Istanbul, Turkey, and I am currently studying at the University of Copenhagen for one semester.  Other American law students have occasionally asked me about the benefits of studying law abroad.  Some may wonder whether I will be adequately prepared to practice in the United States, given my focus on foreign law.

My fellow law students and I will enter a legal world that is more globalized than ever before.  American clients are increasingly becoming subject to jurisdictions beyond United States borders, as corporations are diversifying their business throughout the world in response to the world-wide economic turmoil in recent years.  Now, it would not be uncommon for a business to be incorporated in Delaware, and have affiliated companies in Brazil and France.  This same company may well hold bank accounts in Switzerland, have assets in South Africa, invest in Saudi Arabia, and conduct business transactions in Japan.  As a result, lawyers may be asked to provide advice on how a French subsidiary of an American parent company would be taxed and whether any international tax conventions apply; what happens if an American financial institution enters into a contract with a Saudi lender and the contract fails to meet the strict requirements of Islamic finance law; or what if an American car dealer enters into a sales contract with a German car manufacturer and the contract fails to meet EU sales directives?  Questions such as these are becoming more and more relevant and American attorneys need to be able to provide answers to clients who wish to do business abroad. 

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Frozen Assets

Frozen AssetsProperty law – who could forget the Rule Against Perpetuities, fee simple, remainders or Blackacre from your second semester at Marquette Law? For me, it made me seriously question my abilities to reason through complex issues. For my sister, who practices Trusts and Estates law, it is her way of life.

But that second semester, the opportunity to apply the principles of property law became my reality. It seemed every semester I slogged through law school, I had a personal or business crisis that overlapped with my studies. We used arbitration to resolve a breach of contract during a commercial building project. We used an LLC formed by our neighbors to contend with an eminent domain issue, when the utility company condemned and forever marred our property with a gas line. And most interesting of all, we used property law and many other legal principles to deal with a business purchase.

As a foundation for this, let me explain the rest of my professional life. I graduated from Iowa State’s Veterinary School in 1981 and have run my own small animal veterinary practice in rural Wisconsin, one hour north of Milwaukee, since then. After 25 years out of the classroom, I had the itch to go back to school, for the opportunity to have a second career, and because I missed the energy of being in an academic setting.

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Trusts & Estates and the “Businesslike” Practice of Law

In 1980, I had the opportunity to interview Louis Auchincloss. Known for his novels about New York’s traditional elite, Auchincloss also maintained a successful and sophisticated trusts and estates practice. In fact, I interviewed him in his corner office on Wall Street. His thoughtfulness, dignified manners, Brooks Brothers clothing, and elegant office stuck in my mind over the years as an illustration of top-drawer T & E.

It came as a surprise to me over thirty years further down the road to learn that the white-shoe Manhattan firm of Debevoise & Plimpton was eliminating its T & E practice. It turns out that Debevoise & Plimpton is only the latest big firm to take this step. Weil, Gotshal & Manges and also Gibson, Dunn & Crutcher, among other big firms, have also in recent years done the same.

Why are the big firms ending their involvement with T & E? According to the analysts, T & E is an uncomfortable fit in the emerging big-firm business model. Genteel and personalized, the T & E practice of somebody like Louis Auchincloss cannot assign large numbers of junior associates and run up the tab in the process. Drafting wills and trusts generates fewer billable hours and profit than big-time litigation, corporate bankruptcies, and mergers and acquisitions.

The contemporary legal profession has its share of problems, but the elimination of big-firm T & E practice underscores the problem that is perhaps the most troubling. Namely, the market economy is swallowing up the legal profession. Every day, we see the practice of law becoming just a business. If legal educators share my perception and are troubled by it, we might reduce skills training and hold off teaching law students “to hit the ground running,” that is, graduate ready to make a buck. Legal educators might instead redouble efforts to teach ethics, honor professional norms, and endorse genuine humanistic values. These are the features of professionalism that distinguish it from unbridled profit-seeking.

 

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