Sophistication of transactional work in Delaware? Forum

[Anonymous User]

Hey all, just curious if Delaware is mostly the litigation battleground for transactional stuff handled elsewhere (e.g., NYC) or if there's plenty of equally (or even more) sophisticated transactional work in the Delaware market as well.

[Anonymous User]

Hey all, just curious if Delaware is mostly the litigation battleground for transactional stuff handled elsewhere (e.g., NYC) or if there's plenty of equally (or even more) sophisticated transactional work in the Delaware market as well.

I don't think any place comes close to NYC in terms of transactional work.

[Anonymous User]

Hey all, just curious if Delaware is mostly the litigation battleground for transactional stuff handled elsewhere (e.g., NYC) or if there's plenty of equally (or even more) sophisticated transactional work in the Delaware market as well.

I don't think any place comes close to NYC in terms of transactional work.

Not sure why Anonymous. Also, not necessarily true or applicable to the question.

I've never been across from a Delaware firm on a transactional matter. I've seen a ton dispensing corporate law advice, though or doing litigation. Thus, I'd say they aren't known for their transactional work.

[Buglaw]

Hey all, just curious if Delaware is mostly the litigation battleground for transactional stuff handled elsewhere (e.g., NYC) or if there's plenty of equally (or even more) sophisticated transactional work in the Delaware market as well.

I don't think any place comes close to NYC in terms of transactional work.

Not sure why Anonymous. Also, not necessarily true or applicable to the question.

I've never been across from a Delaware firm on a transactional matter. I've seen a ton dispensing corporate law advice, though or doing litigation. Thus, I'd say they aren't known for their transactional work.

Maybe Anonymous for the same reason as me. Accidental.

[Anonymous User]

I'm a DE lawyer, but a litigator, so all of this is second hand. But my impression of what transactional lawyers do at the Big Four Delaware firms is give advice on their specific area of Delaware law, as it pertains to larger transactions, and also give advice regarding the governance of Delaware entities, drafting/amending governing documents, etc. That means that after a few years you're an expert at what you do, and just need to keep up with the relevant cases coming out of the Delaware courts.

The complaints I have heard from friends that are associates in those areas is that they get bored with doing the same niche stuff over and over again, but on the other hand, some people seem to like that. On the up side, some departments at some of the Big Four have alternative billing arrangements, and so you can actually have good work-life balance if you are efficient. And of course the cost of living is so much lower, it tends to attract family-oriented types.

[Anonymous User]

I'm a DE lawyer, but a litigator, so all of this is second hand. But my impression of what transactional lawyers do at the Big Four Delaware firms is give advice on their specific area of Delaware law, as it pertains to larger transactions, and also give advice regarding the governance of Delaware entities, drafting/amending governing documents, etc. That means that after a few years you're an expert at what you do, and just need to keep up with the relevant cases coming out of the Delaware courts.

The complaints I have heard from friends that are associates in those areas is that they get bored with doing the same niche stuff over and over again, but on the other hand, some people seem to like that. On the up side, some departments at some of the Big Four have alternative billing arrangements, and so you can actually have good work-life balance if you are efficient. And of course the cost of living is so much lower, it tends to attract family-oriented types.

Thank you so much for your insight! If I'm not mistaken, it sounds like the non-DE firms handle the parts that actually pertain to the transaction while DE firms go through those documents and work on minimizing risk of litigation under DE corporate law. Is that correct?

Also, would the DE-specific expertise developed through this type of work be of any value when lateralling into other markets, or would firms there not consider my experience very much since they can always just hire the DE firm for the DE-specific expertise?