Content start here
News

Transaction versus Litigation

USC Gould School of Law • February 13, 2013
post image

Attorneys give students a glimpse into life as a lawyer

Story by Kelsey Schreiberg

Deciding on a career path just got a little less complicated. Two partners from Winston & Strawn, LLP, an international law firm specializing in both transactional and litigation issues, gave students a firsthand look into the day to day life of a practicing lawyer.  

Transactional attorney Warren Loui and litigator Stephen Smerek spoke about their respective practices and offered advice on how to best prepare for a career in transactional law or litigation. The event was hosted by the Asian Pacific American Law Student Association

Warren Loui, who attained his J.D. from Stanford Law School, specializes in acquisition financing, securitizations, and corporate lending. He also teaches Secured Transactions at USC Gould. His career plays to his strengths by allowing him to combine his interests in math, counseling, corporations, and the law.

TRANSACTION VS LITIGATION
 Warren Loui at the "Transaction vs. Litigation" event

“I have to understand all of the pieces to the puzzle [to] help clients solve problems,” he explained.

Loui is responsible for raising capital, drafting leasing and licensing agreements, as well as buying and selling assets. His plate is full, and he must create agreements that appease multiple parties.

“A lot of times you have to structure a deal that is similar to threading a needle [because] you are trying to satisfy all types of objectives,” Loui said.  

At the end of the day, transactional law is not a zero-sum game, and Loui must work as efficiently as possible.

“We search for win-win solutions that allow everybody to benefit,” he said.

Smerek followed up Loui’s transactional law pitch by sharing his love of litigation with students. Smerek earned his J.D. from Boston University School of Law and initially studied to be an engineer.

transaction vs litigation
 Stephen Smerek speaks to students

Today, he works on consumer and commercial class action defenses, patent, copyright, and trademark & false advertising litigation lawsuits. His practice encompasses pre-dispute counseling, pretrial litigation, trials & arbitrations, and appeals.

“Litigation marries problem-solving and competition,” Smerek said.
“You have to figure out the best way through any situation you are given.”

Students interested in other areas of litigation may seek work as a prosecutor, in house litigator, or judicial officer.

Despite their different areas of practice, both men agreed that lawyering requires making decisions on imperfect information.  

Smerek and Loui encouraged students to read business periodicals, take negotiations courses, join law review or moot court, and to network with classmates and alumni. They urged students to take advantage of summer internships to maximize their skills and job potential.

“Explore as broad an area of the law as you can,” Smerek said.

Explore Related

Related Stories