Developing Individual Competency in Emerging Areas of Legal Practice Babatunde Fagbohunlu, SAN

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1 Developing Individual Competency in Emerging Areas of Legal Practice By Babatunde Fagbohunlu, SAN 24 August 2015

2 Economic outlook Investment outlook Oil and Gas Power Mining Infrastructure Telecoms Financial Services 2

3 Economic outlook Developments in oil and gas sector Alternative revenue sources Diversification of exports Taxation 3

4 Political outlook Anti-corruption/Recovery of stolen assets Justice sector reform 4

5 What is an Emerging Practice Area? Two types A new legal subject or expertise o ICT law o Regulatory risk and compliance A resurgent legal subject or expertise o Tax o Environmental Impact Litigation 5

6 What is an Emerging Practice Area? The number of job opportunities available, which is done by evaluating if there is a high demand by employers, the ease of entry into solo practice, or both. An area of law that is sustainable beyond the present or immediate economic needs. An emerging area cannot be a flash in the pan. It has to exhibit signs that it would be around beyond 2015 An area with a potential for growth in the industry Practice areas which are not precipitous or restrictive for entry by fresh law graduates; it should have relative ease of entry It should be an area of law widely available in a large number of locations at the very least. 6

7 The Emerging Practice Areas Dispute Resolution Oil and Gas PSC, Joint Venture Disputes, Gas Pricing Disputes Tax Litigation Troubled Assets Civil Fraud/White Collar Crime Regulatory Disputes Environmental Impact Litigation Employment contracts Cyber Security and E-Commerce Access to Information/Privacy law 7

8 The Emerging Practice Areas Corporate/ Commercial/Transactional: Finance: Project Finance/Corporate Finance Public Private Partnerships Tax Advisory/Tax Planning Information and Communications Technology Restructuring and Insolvency Governance, Risk and Compliance 8

9 Features of an Emerging Practice Area Cross-border Multi-disciplinary Complex ICT-Driven 9

10 Individual competencies Meaning Importance of Individual Competencies Law Firm Management Recruitment Training Performance evaluation 10

11 Individual competencies Traditional competencies Knowledge Writing and drafting skills, Logical and scientific reasoning, Research and presentation skills Oratory and eloquent speaking Team work; and Networking Skills 11

12 Individual Competencies and Emerging Areas - Corporate/Commercial/Transactional Client Project Team Members Financial Advisers Solicitor Regulator(s) Other Counsel Nigeria Law Firms, International/Foreign Law Firms 12

13 Individual Competencies and the Emerging Areas - Dispute resolution Project Team Members Client Expert Witnesses Fact Witnesses Barrister Regulator(s) Judges/Arbitrators Court/Arbitral Ins<tu<ons Other Counsel Nigeria Law Firms, International/Foreign Law Firms 13

14 Individual competencies Nascent competencies Knowledge of Information Technology Legal project management Innovation Due Diligence Collaboration Emotional Intelligence Business Sense and Financial Literacy 14

15 Takeaway School Curriculum University Law Faculties, Nigerian Law School Continuing Legal Education Law Office Management (Recruitment, Training/Mentoring, Performance evaluation) 15

16 Thank You for Listening Disclaimer The presentation is from Aluko & Oyebode and is intended only for its recipients. The contents of this presentation, either in whole or in part, may not be reproduced, stored in a data retrieval system or transmitted in any form or by any means, electronic, mechanical photocopying or otherwise without the written consent of the Firm. The views and opinions contained in this presentation are those of the presenter and should not be considered as independent legal advice to be relied upon for any purpose whatsoever. The Firm accepts no liability for the consequences of any reliance placed on the contents of this presentation. The views, opinions and statements contained herein should not be relied upon for any personal, legal, contractual or financial or other decisions or possible gain. The information, opinions or views expressed in this presentation may include inaccuracies or typographical errors. The firm accepts no liability for any errors in any of the views expressed herein. If you are not the intended recipient(s), please contact Aluko & Oyebode via telephone ( ) or information about Aluko & Oyebode, please visit our website at For further 16

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