By Robert Chen -
The Law Society of NSW’s Young Lawyers Business Law Sub-Committee recently hosted a panel event titled ‘Standing in the Shoes of a Business Lawyer.’ The event featured two distinguished panellists, Amber Cerny, partner at EY specialising in Mergers & Acquisitions (M&A), and Steven Brown, chairman at Etienne Lawyers. The event aimed to provide young lawyers and law students with practical insights into the world of a business lawyer. The discussion drew from the rich experiences of two seasoned professionals, and it delivered. It was a captivating conversation that see-sawed between two practitioners who were so different, yet so remarkably alike, through their shared love for business law.
Cerny was interviewed by Jennie Siow of Watson Webb. She discussed her journey into law and explained that as the first lawyer in her family, branching away from the norm was always going to be a challenge.
When asked about how she would best describe her career as a qualified lawyer in Australia and an accredited solicitor of England and Wales:
Cerny said it was “a great pleasure and a great privilege to practise business law… .” She describes herself as being one of the few people who really enjoys due diligence and understanding how things work. She shared with the audience, the intricacies of M&A deals, highlighting the importance of due diligence, effective negotiation strategies, organisation and understanding the broader business implications on clients.
For Cerny, advising clients as a business lawyer taught her how to run her own team and law firm. “You understand how businesses work. It gives you great insights into how to run a law firm. The sort of pressures that apply to businesses, also apply to law firms,” she said.
Cerny emphasised the importance of networking from an early stage of your career. “The people who will become your clients, are the people you went to university with,” she said.
She also emphasised the need to ensure that you meet people, network, form meaningful connections and stay connected. She stressed the importance of “being interested in what they are doing so it’s not just transactional.”
To be frank, we can’t help but agree. Cerny’s journey in the law and her leadership experience in NSW Young Lawyers and the Law Society demonstrates that being a lawyer is more than just building your career reputation – you make friends at the NSWYL Business Law Committee and making friends matters.
The second guest panellist, Steven Brown, was interviewed by Tanushka Kulkarni, in-house solicitor at DB Schenker. Brown shared stories and experiences that made everyone laugh. Browns’ stories highlighted his wealth of experience in corporate law. He provided valuable insights into the strategic role of a business lawyer and emphasised the importance of strategic thinking, managing client relationships, and staying updated on regulatory changes.
His foray into his career as a business lawyer was a logical consequence of his sleeping habits. He did not like early mornings which, as most lawyers would know, would most likely not suit litigation.
Brown described his days as being “Like being a leaf in the wind.” It is a beautiful metaphor which perfectly captures the daily lives of being a business lawyer. Your days can begin and end with something you did not set out to do or even fathom.
As for what he thought young lawyers needed to develop to be able to embark on their journeys as business lawyers, he shared this gem: “contract law is the oil that lubricates all of the areas of commercial transactions.”
Brown’s work involves “specialising in anything hard and difficult and helping people.”
Brown’s discussion also touched on the ethical challenges faced by business lawyers, underscoring the need for integrity and professionalism. His session included explanations on how business law interacts in every area of life and how young lawyers can build credibility outside of the law. Business law will expose you to interesting business concepts, trades and opportunities – it’s not every day you end up in another country running a multinational merger after an early morning phone call.
If you have questions about the highflying life of a lawyer, Brown has the experience to answer the question. But Brown’s advice to young lawyers is clear: “you’re not going to get work sitting in your office by yourself go out to the pub, go to golf, go play bowls, even go online and play computer games as long as you’ve got some form of interaction it’s best to be out there marketing than sitting on your bum doing nothing,” he said.
Taking a walk down memory lane
The panellists were asked to share the most memorable experience in their careers.
Brown brought props to help the audience visualise his most memorable experience. He recounted receiving an urgent call from a client who insisted that he come to the office immediately. Brown thought there was no way it was such an important request that he needed to be there immediately, so he challenged the client who demanded that he be in the office even if it meant coming in his pyjamas. Brown rushed to the office, and to prove a point, he turned up in his pyjamas.
It turned out that Brown’s contract, which was only intended to be used as part of the Australian arm of the business transaction, had been mistakenly elevated to the master agreement for the entire multinational deal.
Overnight, he was thrust into the role of lead negotiator for a team of lawyers whom he had never met. With a few hours’ notice, he was on a plane to Brussels to lead the negotiations with the parties.
In the end, the deal was successful but Brown’s memory of that morning, from telling the client that he would show up in his pyjamas if it was that urgent, to rushing to the office in his pyjamas, is testament to the unexpected twists and turns of a business lawyer’s life.
For Cerny, her most memorable experience occurred while she was working in Europe on a controversial project relating to the outsourcing of a component of a national healthcare system.
Cerny’s work in this field was stressful as the outsourcing decision sparked significant backlash and culminated in the first strike in the organisation in 35 years. Cerny comes from a family of medical and health professionals, so this was particularly concerning as her work had a direct impact on the provision of healthcare services in the country.
For Cerny, it highlighted the significant impact that legal and business decisions can have on everyday lives. It’s a reminder for lawyers to always consider the broader societal implications of their work.
Tips for early career lawyers
Brown shared the following useful tips:
1. Executive summaries are your friend
- Your client doesn’t want 10 to 15 pages, but sometimes you may need more to protect yourself and your firm.
- Having a detailed document is important. Ensure that it covers the scope of work that will be undertaken. However, when a client is seeking clear and concise information for immediate decision-making, clarity and brevity are necessary.
- Tailoring specific advice to clients builds rapport and enhances service quality. Utilising diagrams and flowcharts (though uncommon) can effectively reduce communication barriers and may be highly valued by certain clients.
2. Join associations
- When joining associations, it is important to consider how it benefits your progress and development. Consider factors such as networking, industry insights and experience as it provides a basis to evaluate your career growth.
3. Be fair dinkum and have good ‘fair dinkum’ relationships, not just transactional ones
- Having genuine and authentic relationships allows for the development of long-term connections, based on trust and mutual respect, rather than short-term transactional interactions. Cultivating real connections fosters loyalty and collaboration and creates meaningful relationships.
Cerny also shared her top three tips for early career lawyers:
1. Read the Australian Financial Review
There are many changes happening around the world and it’s hard to be on top of all of them. Spend what little time you have reading quality resources, which your clients will appreciate.
2. Go to the conferences that you want to go to
It’s not just about the CPD points. If you have an interest in an area of law, explore it, go to seminars, spend your money learning something that interests you – you might as well make the most of your mandatory professional development opportunities.
3. Join committees, groups and be around people with knowledge
Being a member of a Young Lawyer Sub-Committee, local rotary club and other industry bodies gives you the ability to learn and keep updated on topics from others who work in those areas. Business law is vast, and you can’t be an expert in everything, so you need to think smart.
Conclusion
The Young Lawyers Business Law Sub-Committee brings together leading young lawyers working in the field and gives them opportunities, confidence, and peer support to build their experience and network. Through its connections with the Law Society, it opens doors for early career lawyers to feel inspired and to find their passion.
The event was a resounding success. It offered early career lawyers and law students valuable insights and practical advice from two leading figures in the field. The knowledge shared by Cerny and Brown will undoubtedly help shape the careers of many aspiring business lawyers.
