Innovation and adaptability are crucial for any business in today's fast-paced and rapidly-changing landscape. This sentiment rings especially true in the legal industry, where firms constantly strive to provide effective and efficient services to their clients.
This drive was demonstrated when the Financial Times, in its North America Innovative Lawyers Report 2022, named Orrick as the No. 3 most innovative law firm. This recognition marked Orrick's seventh consecutive year among the top three firms, a testament to its commitment to innovation and social responsibility. Particularly noteworthy was Orrick's MAPE 2.0, a platform that transforms M&A execution, which received the Reinventing Legal Practice award.
MAPE 2.0, a blend of tech tools, new roles, and process changes, aimed to optimize deal execution, allowing lawyers to focus on adding strategic value and junior staff to experience a greater variety in work. AltaClaro's data-driven training, which prioritizes engagement, feedback, and competency, provided the training platform that helped Orrick achieve these goals.
Nathan Dooley, Orrick’s Corporate Client Service Transformation Director, remarked, “AltaClaro has figured out how to deliver something very close to on-the-job training in a group setting with hands-on learning and high-quality feedback.”
Orrick’s M&A Corporate associates first went through AltaClaro’s two flagship bootcamps- Fundamentals of Corporate Transactions and Fundamentals of M&A Transactions. Each program consisted of five courses, and each course required associates to go through a mock transaction, as if they were working with a real client. Dooley shared, “AltaClaro’s programs give associates an understanding of the big picture and an opportunity to work on real-life deal scenarios and documents. Naturally, associates will come out more confident and efficient.”
Through the five courses in the Corporate Transactions program, associates did a deep dive on drafting commercial contracts, NDAs, Term Sheets, forming entities, and conducting due diligence. Through the five courses in the M&A Transactions program, associates worked on each phase of an M&A deal, from structuring the deal, to running the closing process and drafting each of the core agreements.
This hands-on and immersive approach to training equipped Orrick's associates with practical experience and a broad understanding of the process, thereby enhancing their efficiency and effectiveness. Dooley estimates that AltaClaro’s course resulted in at least 1 less cycle of revisions or rework by junior associates managing transactional work. “Having completed corporate and M&A programs, associates have a higher-level understanding as a starting point. They get to high-value work faster.”
Upskilling for Client Industry Knowledge
Recognizing the importance of understanding their client's industry, Orrick went beyond their strategic initiative for MAPE 2.0. They had their M&A and Corporate associates and specialist deal team members also participate in AltaClaro’s Overview of Technology Transactions course.
Lawyers today need to be tech fluent, and this is especially true at a firm like Orrick that focuses on the technology sector. AltaClaro’s Technology Transactions course provided an experiential introduction to key concepts in technology transactions, from understanding the differences between hardware vs. software agreements, to mastering the components of development, license, distribution and professional services agreements. Orrick’s employees learned and applied key industry terms and agreement fundamentals such as IP ownership, deal economics, license grants and restrictions, data security, maintenance obligations, warranties, and infringement liability.
“This bootcamp provides needed industry knowledge and enables issue spotting across the board for our firm. It helps our team members to represent clients better because they understand the clients’ business faster.” - Nathan Dooley, Corporate Client Service Transformation Director
Expanding into Other Practice Areas with AltaClaro
Orrick began their association with AltaClaro three years ago as a pilot client, and since then, they have evolved into one of AltaClaro's largest clients. Following the success of AltaClaro's training in the M&A and Corporate domains, Orrick expanded its usage of AltaClaro to other practice areas, including lending, real estate, and capital markets. This adoption further demonstrated the value and effectiveness of AltaClaro's training programs across different sectors. By leveraging AltaClaro's training programs, Orrick has not only enhanced their execution efficiency and the job satisfaction of their junior lawyers but also established itself as an innovative player in the legal field, as recognized by the Financial Times.
Looking for a Proven Legal Training Solution?
There’s a reason why firms such as K&L Gates, Holland & Knight, Orrick, Allen & Overy, and Ropes & Gray trust AltaClaro for their legal skills training.
With AltaClaro, you can get your associates billing sooner, increase training retention and engagement, and save on resources used for legal skills training. Our online boot camps help lawyers leverage technology and learn practical legal skills in a hybrid format through mock transactions and live feedback sessions with seasoned practitioners. From programs in M&A Transactions and Corporate Transactions to Capital Markets, Lending Transactions, Real Estate, and IP/Technology Transactions, our course catalog spans beginner to intermediate level classes.
Interested? Schedule a free 30-minute consultation with one of our experts and learn how you can empower your associates to hit the ground running.
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