Sonal Mehta ’14, Boyan Toshkoff ’14, and Paul Fraulo ’15 won Best Draft at the Mid-Atlantic Regional Meet for the 2013 National Transactional LawMeet held at the Earle Mack School of Law at Drexel University in Philadelphia.
Professor Jonathan Askin solicited students from the Intellectual Property Law Association (IPLA) to create a team for the competition, which is the premier moot court experience for students interested in entering transactional practice.
This year the students participated in a simulated merger and acquisition transaction. The team was assigned to represent the buyer of a large pharmaceutical company in a negotiation of an amendment to a stock purchase agreement following two material adverse change (MAC) events. They prepared a proposed amendment to the stock purchase agreement, prepared mark-ups to draft agreements prepared by opposing teams, and negotiated the amendment against “seller” teams. Teams were judged on the team’s drafting, marking-up and negotiating techniques, knowledge of corporate law, and creating innovative solutions for the client.
“This was a great experience for our team to participate in hands-on transactional work and to practice real-world negotiation skills,” said Fraulo. “We worked well together as a team and are proud that our draft amendment won the competition.”