Where Do Lawyers Have the Best Quality of Life in the UK? Whilst the legal epicentre of the UK is in London, there are many regional bustling legal hubs creating the question: can lawyers have a better quality of life outside of the capital city? Where Do Lawyers Have the Best Quality of Life in the UK? Whilst the legal epicentre of the UK is in London, there are many regional bustling legal hubs creating the question: can lawyers have a better quality of life outside of the capital city? This article will analysis quality of work, salary, cost of living and positions per capita to determine the best cities for UK trainee lawyers.

Data and research for this article were provided by Witan Solicitors. The law firms / chambers that you apply for are very important (especially as it is recommended to make 5-15 applications per cycle), however, the cities that they operate in are equally as important.

Most firms require you to apply to one office, however, some firms will ask you to rank your office preference. However, where the latter applies, it is generally advised to select a few locations where you can explain to an interviewer why you could like to work in that city.

It should be noted that after qualification you can typically laterally move within the firm, however, most newly qualified lawyers tend to qualify into the office they trained at.

You may also want to research trainee satisfaction, retention rates, what training and development that firm offers and the practice areas and sectors they operate in.

Where are the legal hubs in the UK?

For private practice (which represented 90.5% of trainee registrations in 2018/19), London is the main legal hub in the UK, hosting many American, international and national law firms. Around 50% of all traineeships are offered in London and Greater London.

Whilst many elite US firms only have offices in London, lots of the international and national law firms have offices in cities such as Birmingham, Bristol, Cambridge, Edinburgh, Leeds, Liverpool and Manchester.

The North West represents around 10% of traineeship vacancies, the South East represents around 7% and Yorkshire and the Humberside represents around 6%.

However, it is important to factor in competition. In terms of positions per capita, Newcastle upon Tyne has one of the highest percentages at 51.98 shortly followed by Manchester’s 50.57 meaning that your application is more likely to be successful in these cities. In comparison, the position per capita is 7.94 in London and 7.79 in Southend-on-Sea.

However, for in-house legal roles, location can vary. For example, the majority of lawyers for Jaguar Land Rover are based in Warwick.

Quality of work

Prestigious London is often deemed as having the most desirable client bases, however, many international and national law now collaboratively share work across their different offices (such as DLA Piper, Addleshaw Goddard, Eversheds Sutherland and Pinsent Masons), therefore the quality of work you receive at regional offices is not diminished.

The only thing to note is that some firms might only operate certain (usually more niche) practice areas in certain locations, therefore if you are interested in a particular practice group, make sure some of the team are based in the office you are applying to. Boost Your Applications Receive 1-2-1 application support to jumpstart your legal career! Learn More https://www.thelawyerportal.com/events/application-advice-mentoring-for-aspiring-lawyers/

Pay and quality of life

London often pays the highest with Bristol offering the highest salaries in the regions. London trainees can typically expect to earn £32,000 to £60,000 in their first year and £37,000 to £70,000 in their second year. In Bristol, trainees typically earn £30,000 to £47,000 in their first year and £32,000 to £49,500 in their second year.

However, once housing costs are deducted, it is lawyers in smaller cities such as Newcastle upon Tyne, Preston and Leeds where lawyers have the highest disposable income. For example, trainees in Leeds can typically expect to earn £25,000 to £37,000 in their first year, again with an increase in their second year, which on average is 30% lower than London. However, for general living costs, Leeds is 42% cheaper than London, highlighting how much further your pay can go in the regions.

Along with London, Southend-on-Sea, Reading, Crawley and Bristol are also impacted by high living costs.

In regards to work life balance, American law firms tend to have the longest working hours. London firms typically also have long working hours, with lawyers in regional offices working slightly less hours, but this is very firm dependent. Therefore, lawyers quality of life is generally better outside of the capital.

Working hours of juniors is a good resource you can use to compare specific firms average working days.

It is also useful to research specific firms billable hour targets. This is how many client hours you must record either daily or yearly. Usually a fee-earners billable hours in taken into account when determining bonuses.

Often billable hour targets are the same for London and regional offices, however, some firms may require their London lawyers reach a slightly higher billable hour target to justify their higher salary.

Key takeaways

In conclusion, while regional firms (with the exception of Bristol) may struggle to match London salaries, increased collaboration between offices means they can now offer competitive pay that goes further, alongside top-tier work and a better work–life balance, enabling you to build a more sustainable career. HELP

HSBC rolls out legal AI platform with Harvey Discover how major banks are embracing legal AI and what this evolving approach could mean for law firms, in-house teams and regulatory risk management. HSBC rolls out legal AI platform with Harvey Discover how major banks are embracing legal AI and what this evolving approach could mean for law firms, in-house teams and regulatory risk management. HSBC’s rollout of Harvey AI signals a shift in legal operations. Explore what this means for law firms, in-house teams and regulatory risk.

HSBC and Harvey AI: Transforming Global Legal Work with Artificial Intelligence

HSBC has announced a strategic partnership with Harvey AI to integrate a cutting-edge legal platform into its Global Legal function, aiming to revolutionise in-house legal operations and efficiency.

On 20 January 2026, HSBC Holdings plc announced a new strategic AI partnership with legal services provider Harvey AI. This move is part of the bank’s broader strategy to embed artificial intelligence across its global operations to drive business efficiency, accelerate execution, and enhance customer service. By bringing a purpose-built legal AI platform into its Global Legal function, HSBC is reinforcing its commitment to innovation and operational excellence.

For aspiring lawyers, this development is a significant indicator of how the “AI boom” is transitioning from a tech-industry trend into a core component of legal practice within the world’s largest financial institutions. This article explores the details of the partnership, the capabilities of Harvey AI legal tools, and what this shift means for the future of the legal profession.

What is Harvey AI?

Before examining the partnership, it is essential to understand the technology being deployed. Harvey provides domain-specific AI tailored specifically for the legal and professional services sectors. Unlike general-purpose AI, Harvey’s products are designed to streamline complex legal workflows, including:

• Contract analysis
• Due diligence
• Compliance
• Litigation support

The company is backed by high-profile investors, including Sequoia, Kleiner Perkins, and the OpenAI Startup Fund. This pedigree is significant; as we have seen with the growth of hardware giants like Nvidia, which provides the “beating heart” of the AI industry, the backing of major venture capital firms often signals a platform’s potential to dominate a market. Harvey is already used by over 1,000 customers across 59 countries, including some of the world’s largest law firms and enterprises.

Reimagining the In-House Legal Function

The integration of Harvey AI at HSBC is not merely a software update; it represents a fundamental shift in how in-house legal teams operate. Bob Hoyt, HSBC Group Chief Legal Officer, stated that the initiative is about “reimagining how an in-house legal function can operate”.

The goal is to combine the speed and efficiency of AI with the professional judgement and expertise of human lawyers. This approach allows the bank’s legal professionals to move away from administrative, repetitive tasks and focus on strategic, high-value work. This evolution is crucial for a bank of HSBC’s scale, which serves customers in 57 countries and holds assets of approximately US$3,234bn.

Winston Weinberg, CEO of Harvey AI, noted that HSBC has a clear ambition to become an “AI fluent organisation”. By adopting an AI-enabled operating model, the legal team can become more data-driven and effective, ultimately delivering better results for the business and its global customer base. Boost Your Applications Receive 1-2-1 application support to jumpstart your legal career! Learn More https://www.thelawyerportal.com/events/application-advice-mentoring-for-aspiring-lawyers/

What Aspiring Lawyers Need to Know: The Legal Perspective

For those currently applying for Training Contracts or vacation schemes, understanding the “legal perspective” of AI integration is vital for demonstrating commercial awareness.

1. Regulatory Compliance and Technical Regulations

One of the most critical aspects of the HSBC-Harvey partnership is the focus on regulatory expectations. In the banking sector, legal teams must navigate a dense web of global technical regulations. Harvey’s platform is designed to support enterprise-grade controls and security that align with these strict regulatory requirements. Aspiring lawyers should consider how AI can assist in monitoring “horizon risks” – new laws or regulations -across multiple jurisdictions simultaneously.

2. Efficiency vs. Billable Hours

While in-house teams like HSBC’s are focused on business efficiency, the rise of tools like Harvey AI also impacts private practice law firms. If an AI can complete a first-pass contract review or due diligence in minutes rather than hours, the traditional billable hour model may come under pressure. Firms are increasingly being asked to provide “value-added” services, much like Bob Hoyt’s vision for HSBC’s lawyers to focus on high-value strategic work.

3. The Changing Role of the Junior Lawyer

Traditionally, tasks like document review and due diligence were the bread and butter of trainee solicitors and paralegals. With AI streamlining these workflows, the role of a junior lawyer is shifting toward AI oversight and legal project management. You will likely be expected to use these tools to generate drafts, which you then refine using your legal training and judgement.

The Broader Economic Context

The adoption of AI by a financial giant like HSBC should be viewed within the wider context of the current tech boom. Just as Nvidia saw its stock price climb by roughly 871% following the release of ChatGPT due to its dominance in the AI chip market, legal service providers are now racing to provide the software that utilizes that hardware.

For a bank, staying competitive means achieving operational excellence through technology. As more “large enterprises around the world” adopt domain-specific AI, we can expect to see a ripple effect where law firms must also adopt these tools to stay compatible with their clients’ internal systems.

Conclusion

HSBC’s partnership with Harvey AI is a landmark moment for the legal industry. It signals that AI is no longer a futuristic concept but a practical tool used to manage the legal affairs of one of the world’s largest financial organisations. For students, this reinforces the need to be “AI fluent” – understanding not just how the technology works, but how it interacts with law, regulation, and business strategy.

As you prepare for your next Commercial Awareness interview, reflect on how such a shift in the legal operating model might change the advice a lawyer gives to a client, or how it might alter the structure of a law firm itself.

Commercial Awareness Questions

• Strategic Impact: How does the shift from administrative tasks to “high-value work” change the way a bank might measure the performance of its legal team?
• Risk Management: What are the potential regulatory risks of using AI for “contract analysis” and “compliance” in a highly regulated industry like banking?
• Future of the Profession: If AI can significantly reduce the time taken for due diligence, how should law firms adjust their pricing models to remain profitable while remaining competitive?
• Data Security: Why are “enterprise-grade controls” particularly important when integrating AI into a global legal function?
• Junior Roles: How can a trainee solicitor demonstrate “value” in a workplace where AI handles many of the tasks traditionally assigned to them?

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The impact of the rise in class actions on law firms Explore why collective litigation is gaining momentum in England and Wales, and how firms are positioning themselves to respond to growing demand in this evolving area of practice. The impact of the rise in class actions on law firms Explore why collective litigation is gaining momentum in England and Wales, and how firms are positioning themselves to respond to growing demand in this evolving area of practice. With the rise in class actions in England and Wales, many law firms are actively tracking this trend and expanding their expertise into this potentially lucrative practice.

What are class actions?

Class actions are permitted in England and Wales by Part 19 of The Civil Procedure Rules 1998; additional claimants or defendants may be added as a party to a claim.

Class actions benefit the court as they streamline claims that include multiple claimants or defendants. The court can utilise this power by making a Group Litigation Order (GLO). This only applicable where there is, or there is likely to be, a number of overlapping claims between the individual parties.

Overlapping claims means the class members should have the same interest. In Lloyd v Google (2021), the claim alleged that the defendant had breached the Data Protection Act 1998 by collecting and using the browser information over 4 million Apple iPhone users. The Supreme Court held that the ‘same interest’ test requires the interest to regard common issue(s), however noting that some issues may divulge.

In the Post Office Group Litigation Order (2019), the same interest test was fulfilled as the claimants had suffered similar losses as a result of the Post Office failing to investigate their Horizon IT technology and instead blaming shortfalls in branch accounts on the postmasters.

Usually claims are struck out for not fulfilling the ‘same interest’ test. Examples include Smyth v British Airways plc & ors (2024) and Prismall v Google (2024).

GLOs only apply to Opt-out claims. This is where a claim is brought by a representative automatically on behalf of all individuals of an affected class unless an individual party choses to opt-out of the GLO.

Opt-in claims is where each party has to actively affirm that they wish to be a party to the claim.

Why has there been an increase in the number of class actions in England and Wales?

Class actions have been a fundamental part of US litigation since the 1966 amendment to Rule 23 of the Federal Rules of Civil Procedure. In 2024, around 5.5% of all new cases filed in the US federal court were class actions (approximately 200,000). In England and Wales, approximately 33 class actions were filed in 2024, therefore making up only a fraction of all new claims.

Although the number of class actions is relatively low, at the end of 2024 there were more than 655 million class action members, equating to approximately 10.4 class actions for every person in the UK.

The rise in class actions in the England and Wales has been attributed to the creation of the opt-out class actions in the Competition Appeal Tribunal (CAT) under the Consumer Rights Act 2015, however, these claims are limited to breaches of competition law.

Nevertheless, public awareness of the availability of class actions has increased, meaning more claimants are excising their consumer rights via class actions and ultimately challenging the power that corporates hold, specifically within litigation due to their financial resources and access to legal representation.

The importance of class actions to law firms

Firstly, as class actions is an emerging division within litigation, now is a good opportunity for law firms to focus on class actions, leading them to become specialists. Law firms like to build areas of expertise that they can offer to existing clients and use to leverage new clients.

Secondly, class actions are very profitable for law firms. The total cumulative value of class actions across the UK reached £135 billion in 2024. Therefore class actions are a big threat to corporate entities meaning corporate clients will invest into their defence, creating the opportunity for Magic Circle and corporate law firms to develop a lucrative expertise in class action defence.

Mastercard was in an eight year legal battle for an alleged breach of competition law due to their European interchange credit card fees. The claim was issued for £14 billion, highlighting the potential value of class action claims, however, the CAT approved settlement was only £200 million. The value of the claim and the length of litigation therefore likely generated a large invoice for Mastercard’s legal representatives. Keep Up With The Latest News Boost your Commercial Awareness Subscribe Now https://www.thelawyerportal.com/newsletter/

How to discuss class actions in interviews

Within private practice, the main focus is about retaining and expanding clients. To do such, you need to understand the concerns of your clients. Class actions provide a financial and reputation risk to UK and international corporates. Therefore, class actions is a good commercial awareness topic when assessing the threats to clients.  For example, many law firms represent banks, therefore you could discuss specifically how the rise in class actions are a threat to financial service institutions and how this impacts the particular chamber or firm that you are applying to.

It would be good if you linked this threat to the particular sector that the firm interviewing you operates in as class actions span many sectors, such as:

• Product liability;
• Financial services;
• Data and privacy claims;
• ESG; and
• Human rights.

If the firm you are applying to has a strong presence in one of these sectors, it would good to explain why this sector interests you and how the firm could utilise their expertise by potentially expanding into class actions (if they do not already operate in this specific type of litigation). It would be useful to find a recent class action case within this sector and explain the legal implications to the interviewer.

Why and how should aspiring lawyers follow the rise in class actions?

Whilst claimants to date have struggled to receive large settlements, in Merricks v Mastercard (2025), the CAT emphasised that class actions need to operate for the benefit of the claimants and recognised the role that legal representation and commercial litigation funding play in securing a fair and just outcome for the claimants. Therefore, whilst following the rise of class actions, it is also important to consider the impact on third party litigation funders, especially as it has been reported that England and Wales has the second largest third party funding market in the world.

The government is reviewing the operation and impact of opt-out class actions therefore potential reform could be made, likely to strengthen consumer protection (however, the government has acknowledged the need to balance economic growth and consumer protection). This would be a useful commercial awareness topic to follow. Related More Resources 2

The Implications of Cybersecurity Laws in the UK The Laws Governing the Regulation of Cybersecurity for Businesses, Companies, and Individuals in the UK The Implications of Cybersecurity Laws in the UK The Laws Governing the Regulation of Cybersecurity for Businesses, Companies, and Individuals in the UK An overview of cybersecurity statutes and regulations as relevant to commercial and personal activity conducted in the UK, including intentions behind the laws, their scope of application, and the consequences of non-adherence. Cybersecurity touches us all. Whether you’re browsing on your PC, making a purchase, withdrawing cash, or receiving medical treatment, each of us is affected when our own cyber defences, or those of companies or the government, are breached. This is because so much of our day-to-day activity and critical national infrastructure relies on computers, which, as a result, accumulate and store data that represents a value to criminals, whether that’s your medical history, your bank details, or even just your shopping habits. Understandably, businesses try to protect these details, not only because they are legally compelled to, but because by being held to ransom for them they can also suffer great financial and reputational losses as a result. Given the considerable increase in such cyber-attacks in recent years, the British government has tried to prevent their recurrence through the introduction of, for example, the Data Protection Act (2018), the Network and Information Systems Regulations (2018), and the Cyber Security and Resilience Bill (2025). This article will delve further into these, looking at their aims, remits and effects, in addition to addressing what you as a lawyer need to know about this fast-moving area of law.

What are Cybersecurity Laws Trying to Protect?

The short answer is digital systems, data, and infrastructure – both corporate and personal. In our increasingly connected world, it has now become easier than ever to surrender, either intentionally or accidentally, personal and commercial data through everyday interactions, whether through conducting business or leading life in the modern world. As such, the potential for our private information to be stolen, misused, or exposed has never been greater. The overriding objective of cybersecurity laws is to safeguard this information and prevent it from being misused or misappropriated by cybercriminals. To achieve this, a dominant area of focus for the laws is the bolstering of business resilience and national security by mandating the implementation of preventative security measures, such as so-called Cyber Essentials (user-access controls, malware protection, secure configuration, firewalls, and security update management). By insisting on such measures, the government can ensure greater economic stability, protect critical national infrastructure (e.g. energy grids, transport systems, healthcare services, and water supply), and ensure personal and commercial data are secure. We will now have a look at some of the ways the government has tried to achieve this through legislation and explore the potential consequences businesses may encounter if they fail to implement the guidance. Boost Your Applications Receive 1-2-1 application support to jumpstart your legal career! Learn More https://www.thelawyerportal.com/events/application-advice-mentoring-for-aspiring-lawyers/

The Governing Laws, Rules, and Regulations

Data Protection Act (2018)

The aim of this Act is twofold: to empower ‘data subjects’ (individuals) and to support organisations with regard to the protection of personal data. It does this by implementing and supplementing the EU’s General Data Protection Regulation (GDPR). Any person or company that handles the personal data of others is responsible for the careful and conscientious treatment of it. Under this Act, individuals are granted the right to know what information is held about them and to request access to it. In handling data, organisations, whether public or private, need to follow data protection principles that mandate the fair, secure, and lawful use of personal data. These principles are enforced by the Information Commissioner’s Office (ICO), and penalties for non-adherence range from formal warnings and injunctions to the suspension or revocation of processing rights and considerable fines (up to £17.5 million or 4% of global turnover). Over and above these fixed sanctions, commercial enterprises should also be attuned to the reputational risk, loss of profit, and limited growth that can arise from the mishandling of personal data or its loss through cyberattacks.

Network and Information Systems (NIS) Regulations (2018)

This legislation establishes cybersecurity requirements for Operators of Essential Services (OES), such as health, transport, energy, water, and digital infrastructure companies, as well as for Digital Service Providers (DSPs), for example those operating cloud computing, search engines, and online marketplaces. The regulations aim to bolster companies’ cyber resilience, prevent cyber hacking incidents through better detection and reporting methods, and improve the security of the digital economy. An example of such a regulation is the obligation to report an ‘incident’ (e.g. a data breach) to the relevant Competent Authority (CA) and the National Cyber Security Centre (NCSC) within 72 hours of becoming aware of it. As with the Data Protection Act (2018), there are penalties for non-compliance that are enforced by the Competent Authorities that regulate each sector. These penalties range from being issued with an information notice (requesting further details) or enforcement notices to penalties of up to £17 million. Consequently, companies are compelled to invest in better cyber security defence measures, more secure digital supply chains, and to train personnel so they are equipped to deal with potential incidents and the reporting thereof.

Cyber Security and Resilience Bill (2025)

This was introduced at the end of 2025 to the House of Commons, with potential enactment due in 2026. In essence it aims to update and expand existing cyber laws and regulations, for example by widening the scope of the NIS Regulations (2018) to include unregulated sectors such as Managed Service Providers, Relevant Digital Service Providers, and Data Centre Operators. It also encompasses Critical Suppliers that regulators can nominate as being particularly crucial components of national infrastructure. It will bring in stricter incident reporting by requiring initial notification within 24 hours of awareness and a full report within 72 hours; it will allow the imposition of daily penalties of up to £100,000 per day for non-compliance and grant the Secretary of State powers to issue National Security Directions to avert imminent threats, for example by isolating high-risk systems. Keep on Top of Headlines Get the latest updates on world events and their legal perspective straight to your inbox Sign Up Now https://www.thelawyerportal.com/newsletter/

What do you need to know?

The most fundamental point to take away from this area of the law is how increasingly important cybersecurity legislation is becoming for individuals, businesses, and the country at large, and why the government is so keen to legislate here. By way of illustration, in 2024 the medical test management group Synnovis had 400 GB of patient data stolen and was held to ransom for $50 million; as the ransom was not paid, this personal data was then exposed on the internet. Several NHS trusts, many hospitals, and thousands of appointments were affected, which had a serious impact on citizens’ health and lives. You can read more about that attack here. In light of this, you should ensure you are fully aware of the gravity of the impact of cyber-attacks on businesses, government infrastructure, and individuals’ lives, and be aware of what legislation and organisations such as the NCSC aim to achieve in this domain.

Commercial Awareness Questions

The types of question that could arise in a commercial law interview in this area are, for example:

• What are the core obligations for essential service operators under the NIS Regulations?
• How do you ensure cyber security governance and compliance within an organisation?
• What are the specific timelines and thresholds for reporting cyber incidents to the ICO and NCSC under UK law?
• How do you embed privacy and security into new projects from the very beginning?
• How can UK businesses mitigate specific threats like phishing, ransomware, or state-sponsored attacks?
• Describe the process for responding to a significant data breach under UK law and technical best practices.
• How would you balance robust security with business usability and operational needs?

Where Next?

Before any interview or application that might touch on cybersecurity law, you should make sure you’re well-acquainted with the relevant directions, regulations and legislation, and how they apply to both businesses and individuals; the websites of the NCSC and the government are great places to start. Additionally, you should take a look at some of the other free resources available at The Lawyer Portal, such as the informative blogs and guides on other related and relevant topics such as the government’s infrastructure plans and the GDPR. Related More Resources 2

Renters’ Rights Act 2025 Explained This year will see the introduction of the biggest changes to the private rented sector in a generation. Renters’ Rights Act 2025 Explained This year will see the introduction of the biggest changes to the private rented sector in a generation. The Renters’ Rights Act (the “Act”) received royal assent in October 2025 and establishes a new regime for short term residential lettings in England. The Act however requires further regulations before its provisions can be brought into force, the first set of which will take effect in May 2026.

What does the Act provide for?

The Act is intended to provide tenants of residential property stronger protections, including by ending ‘no fault’ evictions and strengthening tenants’ rights. It builds on the Renters Reform Bill that was introduced into Parliament by the previous Conservative government but was not passed into law before the 2024 general election. The Act goes further than the previous government had proposed and introduces stronger rights for tenants and stronger penalties for landlord non-compliance. With the number of renters in the UK at a record high, the Act is seen as a key means of protecting tenants from unreasonable landlord behaviour.

More specifically, the Act secures the following key changes:

Rent

From 1 May 2026 landlords will only be permitted to increase rent once a year on two months’ notice and must do so by following a process set out in statute. The process allows the tenant to challenge the initial rent or subsequent rent reviews in the courts if they consider this to be unreasonable. These provisions are aimed at tackling the rising rent crisis that has been seen in  the UK in recent years.

The Act also aims to prevent bidding wars for residential lettings and prohibits accepting rent higher than the advertised amount. It therefore bans advance rent payments, something that has often been utilised by landlords to ensure a certain and forward looking income stream.

The end of ‘no fault’ evictions

The Act abolishes section 21 ‘no-fault’ evictions after 30 April 2026. This means that landlords will no longer be able to terminate a tenancy without specifying a reason once the fixed term of the tenancy has ended. Instead, landlords will only be able to end a tenancy and gain possession of a property by serving notice on one of the grounds under section 8 and Schedule 2 of the Housing Act 1988.

The grounds for possession by the landlord have however been expanded under the Act, including a new ground allowing a landlord to regain possession if they intend to sell the property or they/their immediate family intends to move into the property.

The threshold under which a tenant needs to be in arrears in order to be evicted for non-payment of rent has increased from two to three months and a four week notice period now applies.

The ending of ‘no fault’ evictions is intended to prevent landlords from utilising the section 21 procedure in order to evict tenants without the need to give or prove reasons. It provides tenants with more certainty as to their rights to remain in a property. However, the changes ultimately mean that landlords find it a more difficult and cumbersome process to evict tenants from their property.  This, combined with the increased regulation relating to evicting tenants for non-payment of rent, will not be welcomed by most landlords. Tenants however are likely to face better protections for ‘no fault’ evictions, albeit they cannot guard against a landlord wishing to take possession in order to sell the property or let it to a family member.

The end of a guaranteed minimum fixed term

Assured shorthold tenancies have been abolished and therefore fixed term contracts for a set period of, for example, twelve months will no longer have legal force. All tenancies will move to an open‑ended periodic arrangement with no minimum length or fixed expiry date, known as Assured Periodic Tenancies (APTs). Tenants may leave at any time by giving two months’ notice, while landlords will only be able to recover the property by proving one of the permitted grounds. Get LNAT-ready Get your all-in-one expert support with LNAT Ultimate Package Start your LNAT prep https://www.thelawyerportal.com/product/lnat-ultimate-package/

When will the Act come into effect?

The government intends for the new tenancy regime and the associated reforms detailed above to come into force on 1 May 2026, whilst other measures secured by the Act will likely come in in 2027.

How has the industry responded?

Partly as a result of the changes and partly as a result of general economic conditions, landlords are exiting the market at very high rates, knowing they no longer have as much freedom in terms of rent levels, evictions and general day to day management of their property. Moreover because tenants will not be at risk by making an application to the courts to challenge rent as being unreasonable, there is a risk that challenges to rent will become routine, creating uncertainty for landlords and resulting in monetary and administrative costs.

Similarly, the changes to ‘no fault’ eviction rules mean that landlords have reduced flexibility in terms of evicting tenants and it will take landlords a longer period to gain vacant possession of their property, again having timing and cost implications.  Those operating in the residential sector have also raised concerns that the courts are under resourced in terms of their ability to deal with the expected increases in proceedings following the provisions in the Act relating to rent setting in particular. However, the government has said that they are working with courts to ensure parties will have timely access to the tribunal.

Although the Act applies only to residential tenancies, it is likely that its impact will extend across the wider property sector. Investors in mixed‑use developments will be conscious of the financial impacts of increased regulations, as will developers proposing to bring forward new residential units for sale as they may find a lack of demand from previously reliable landlord clients.

Why should aspiring lawyers be interested?

This is a once in a generation change to residential tenancy legislation. Lawyers working in the real estate and real estate finance sector will need to ensure that their standard templates for residential landlord clients are updated to reflect the new obligations under the Act and that existing agreements are also updated as necessary.

With the end of no‑fault evictions and the additional time and expense this generates, lawyers will need to ensure that their landlord clients are advised on the new provisions and maintain thorough, up‑to‑date records of tenant behaviour and any relevant incidents.

Relatedly, lawyers will need to ensure that investors in rental properties are aware of the additional burden and expense that the Act brings in terms of property management and to build this into their operational budgeting.

Commercial awareness questions

• What practical steps would you advise a landlord client to take to ensure compliance with the Act?
• What implications could the Act have on investment in the private residential sector?
• What is the likely impact of the Act on the day to day work of an English real estate lawyer?

Related More Resources 2

UK Government publishes ambitious 10 Year Strategy for Infrastructure The UK’s 10-Year Infrastructure Strategy sets out major plans for growth and development, with key relevance for aspiring lawyers. UK Government publishes ambitious 10 Year Strategy for Infrastructure The UK’s 10-Year Infrastructure Strategy sets out major plans for growth and development, with key relevance for aspiring lawyers. Aspiring lawyers (whether solicitors or barristers) interested in planning, the environment or project finance should follow the government’s latest announcements with keen interest. This summer, the UK government published its 10 Year Strategy for UK Infrastructure (the ‘Strategy’), setting out the government’s plans to revive the UK’s infrastructure, prioritise economic growth and support social development.

A Record Investment Commitment

The Strategy promises a transformation of the nation’s infrastructure with an unprecedented £725 billion funding commitment over the next ten years. The funding is intended to provide stable and predictable spending, allowing both the government and industry to plan ahead and ensure more efficient delivery of projects, attract private sector investment and ultimately boost the UK economy.

What Does the Strategy Commit To?

Whilst previous governments have published similar strategies to cover economic infrastructure, this Strategy is the first to also include commitments relating to social and housing infrastructure, reflecting the Labour government’s prioritisation of these areas. Of particular note within the Strategy is the government’s commitment to:

• deliver 1.5 million new homes within the current Parliament;
• commit £39 billion to the government’s Affordable Homes Programme;
• progress work on the Lower Thames Crossing – a planned road crossing of the Thames estuary that would link Kent and Essex;
• deliver rebuilding projects at over 500 schools;
• deliver 35 new hospitals;
• build three new prisons;
• create nine new water reservoirs – an important move given the ongoing issues with the UK’s water supply;
• invest in clean energy and support renewable energy projects, nuclear power and hydrogen infrastructure. This is in keeping with the government’s goal to generate enough clean electricity to meet the UK’s total annual electricity demand by 2030.

How will the government achieve these commitments?

In addition to the commitments noted above, the new Strategy aims to improve the delivery of infrastructure more generally by:

• reforming institutions – the government will establish a National Infrastructure and Service Transformation Authority to integrate infrastructure policy, strategy and delivery into central government and ensure delivery is more effective by developing stronger partnerships with the private sector;
• providing certainty, confidence and stability – through the commitment to £725 billion for infrastructure over the next decade, ensuring that capital funding grows in line with inflation and creating certainty in the sector. This is bolstered by the government’s launch of the Infrastructure Pipeline digital portal to provide comprehensive information on publicly funded infrastructure projects to provide businesses with certainty and give them the confidence to invest in skills and technology to help deliver the government’s commitments;
• removing barriers to delivery – the government has committed to taking forward “the most ambitious planning reforms in a generation”. The measures in the Strategy are supported by the government’s Planning and Infrastructure Bill and its commitment to fast track 150 planning decisions relating to major infrastructure projects during this Parliament. The government has also committed to reforming public procurement in the construction sector in order to ensure it is more aligned with commercial realities and to drive up investment.

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How will stakeholders respond to the Strategy?

The Strategy places a great deal of emphasis on the role of local authorities in helping to meet the government’s infrastructure commitments, particularly in relation to housing, transport and social infrastructure. The Strategy expects local authorities to ensure that their approach to delivery of such infrastructure projects recognises national priorities. This may place an additional burden on local authorities who are already facing resourcing issues.

Local authorities and particularly elected members of such authorities may encounter difficulties in trying to reconcile overarching national objectives (as set out in the Strategy) with the specific interests of local communities. This is particularly the case where large scale infrastructure projects may meet a national need but not be welcomed by local communities.

The Strategy does however present additional opportunities for local authorities in that it allows them to access new funding and offers opportunities to create partnerships with public bodies and the private sector, therefore driving up long term investment in infrastructure.

Significant investment from the private sector is required in order to advance the government’s ambitious infrastructure initiatives. Delivery of key infrastructure projects is likely to rely heavily on structured approaches like public-private partnerships and utility regulation. Encouragingly, the Strategy’s focus on strengthening UK supply chains through a centralised system and digitalised portal may motivate investors by building a robust UK-based network for infrastructure-related technologies and services.

For investors, the presence of defined timelines for delivery within the Strategy, as well as complimentary government initiatives for delivery of infrastructure through, for example, the Planning and Infrastructure Bill, enhances confidence in delivery and increases the appeal of investing.

There remain however a number of hurdles to investment, including the expected returns from such long-term investment, as well as the inherent risk of investing in such large-scale projects. The recent hugely over budget and part-cancelled delivery of High Speed 2 has left many investors hesitant of committing to large scale government infrastructure projects. The government will need to ensure continued dialogue with stakeholders/investors in order to ensure that private motivations are met whilst still delivering key public infrastructure priorities.

Why Should Aspiring Lawyers Be Interested?

Infrastructure offers varied and intellectually demanding work that spans across many different areas of law, including planning, environmental, property, public procurement, and contract law. Understanding how these areas of law within long-term government strategies builds a strong foundation for both solicitors and barristers entering the profession.

Lawyers working within planning, infrastructure and/or energy sectors are likely to see an increase in work from developer clients – including house builders and energy providers – who feel this now provides sufficient certainty to commit to projects. With net zero goals and climate resilience built into the strategy, there is also a growing demand for lawyers with expertise in environmental law and policy who may need to advise clients as to how their proposals can be adapted in order to meet policy targets and assist in shaping a sustainable future for the UK.

Equally, lawyers may be engaged to object to infrastructure schemes where it is felt that these do not meet government targets, including relating to climate change policy.

The Strategy also relies heavily on private finance and innovative funding models to deliver infrastructure. Lawyers working in finance teams will play a critical role in structuring deals, navigating regulatory compliance and drafting and negotiating contracts to finance these deals – whether this be acting for lenders, developers or public bodies. Understanding the government’s commitments and the risks/rewards involved in investing in long-term infrastructure is essential commercial awareness for any project finance lawyer. Related More Resources 2

US Imposes Tariffs on Trade with Countries Across the Globe Donald Trump introduces tariffs on goods imported into the US from other countries. US Imposes Tariffs on Trade with Countries Across the Globe Donald Trump introduces tariffs on goods imported into the US from other countries. This article will delve into the recently announced tariffs President Trump has imposed on goods imported into the US, and it will consider their purpose, their effects, and the legal implications they raise. Since reassuming office in January 2025, US President Donald Trump has introduced trade tariffs on goods imported into the US from many other countries, with the stipulated aims of bolstering American manufacturing and industry, protecting American jobs, increasing investment in American businesses, and generating more revenue from taxes. These tariffs have been placed on certain imported products, mainly those generated by industry, e.g. metals and cars, and at different rates for different countries. In addition, Trump wishes to decrease what he has termed the ‘trade deficit’, namely the disparity between the cost of what the US sells to other countries and the cost of what it buys from them, as he sees this as currently inequitable. In this article, we will look at what goods the principal trade tariffs apply to, how the tariffs differ between countries, and why the tariffs are relevant to legal practitioners.

Context to the US Trade Tariffs

Put simply, tariffs are a form of taxation governments impose on goods emanating from foreign countries, and are usually calculated as a percentage of the price of these. In general, these are put in place to increase revenue for a government, safeguard and boost domestic manufacturing and industries at risk of being undermined by cheaper foreign competition, and to help a government to gain political leverage. In the case of the tariffs introduced this year by the US, President Trump has declared that some, particularly in the case of those imposed on China, Mexico and India, are to pressure these countries to combat the trade in illicit drugs and illegal immigration. He has also introduced tariffs for companies trading with Russia, and on products from China and Hong Kong, reportedly to prevent cheaper clothes and everyday items undermining domestically produced equivalents. The tariffs President Trump has introduced differ considerably from country to country, and are even changing day by day as negotiations are still ongoing, but we outline below some of the established ones and the effects they are having on business and the law.

Main Elements of the Trade Tariffs

To date, the US has imposed trade tariffs on more than 90 countries, ranging from 10% (the UK) to 50% (Brazil), and has announced a 10% ‘baseline tariff’ as a minimum on countries, but matters aren’t somewhat more complex than that. In many cases, the tariffs apply only to certain goods coming from these countries, and at certain times, for example a 50% tariff on aluminium, copper and steel imports, and a 25% tariff on cars and car parts, but the 10% UK tariff applies to only the first 100,000 cars coming from Britain, which then increases to 25% once that number has been exceeded. Furthermore, pre-existing or newly established trade agreements exempt some countries from some tariffs on some products, for example the US–Mexico–Canada trade agreement allows these countries to import agricultural, automotive and industrial goods at either a reduced or tariff-free rate. Likewise, as part of the UK’s negotiated 10% tariff, the UK and US can trade beef with each other without incurring tariffs, and the UK has agreed to the US selling 1.4 billion litres of ethanol to the UK without tariffs being imposed. From this, it’s evidently an intricate and ever-changing picture, and one which is subject to additions and subtractions as negotiations continue. But what of the effects the tariffs are having on business and the law? Boost Your Applications Receive 1-2-1 application support to jumpstart your legal career! Learn More https://www.thelawyerportal.com/events/application-advice-mentoring-for-aspiring-lawyers/

Effects of Tariffs

From a legal perspective, knowing about tariffs is hugely important as they now affect a considerable number of contracts that govern trade and supply chains. Since coming into effect, tariffs have caused many contracted parties to reconsider the economic viability of their agreements, and whether renegotiation or even rescission are possibilities. With such reappraisals come the risk of litigation, for example if respective parties cannot agree who should bear the cost of the tariffs, and potential jurisdictional disputes arising from increased scrutiny by customs and where goods are originating from. As an aspiring lawyer, it would be a good idea to have a working knowledge of the validity of the tariffs under international law, how different jurisdictions treat tariffs, and what the tariffs mean for international trade in the long term.
Other aspects of contract law to consider in light of the tariffs are terms (e.g. price adjustment mechanisms and who bears the costs), variation (scope for potential renegotiation), force majeure (arguing that the tariffs constitute an even beyond reasonable control), and termination (one party may wish to end the contract if unwilling to bear the extra costs). A final factor to be aware of is the likely increase in protective clauses being incorporated into contracts that will safeguard parties against changes in the law.

The legal angle aside, another effect that tariffs have is the increase in demand for domestic products over their imported foreign equivalents. With this increase in demand can come the expansion of domestic industries, increased production, and more jobs made available to meet these effects. Conversely, domestic industries, e.g. the automotive industry in some countries, often rely on global supply chains to provide components that are either not made in that country or are cheaper to source abroad. If these components are now subject to tariffs, that extra cost may be passed onto the consumer, meaning domestically produced goods will increase in price. Similarly, tariffs can work both ways, and testament to the continually developing landscape of American tariffs is the proposed (currently suspended) tariffs the EU was due to place on American goods in response to the 15% tariff imposed on EU countries.

Why Should Aspiring (and current) Lawyers Care about the US Tariffs?

Aside from the practical aspects of the law that will become more pertinent in light of the tariffs, as mentioned above, there are also broader legal issues that they give rise to. It will come as no surprise that countries have not accepted the recent tariffs lightly, and some have forecasted a surge in litigation and disputes aimed not only at clarifying contractual rights and obligations, but also questioning the very legitimacy of the tariffs themselves. Law firms across the world have already seen a significant increase in their caseloads as companies and individual litigants seek to challenge and renegotiate extant agreements, and countries, including Canada and China, have appealed to the World Trade Organisation (WTO) to investigate the legitimacy of President Trump’s tariffs. This boost to business, however, may be short-lived. Lawyers should be aware that, as tariffs and retaliatory tariffs hit businesses hard across the US and the rest of the world into the foreseeable future, law firms will likely begin to consider pay scales, bonuses, and reducing workforces and international footprints to compensate for a potential drop in transactional demand in the longer term.

Where to Go Next for Further Information

For further information about the US tariffs, and to keep up to date with their changes, you can consult the website of the US International Trade Administration that allows you to search for relevant tariffs in many different ways. If you’d like information and support relating to studying law, practising law, legal career advice, or to explore more articles of current relevance to the law, take a look at The Lawyer Portal website https://www.thelawyerportal.com), which is host to a wealth of information relating to your legal career and more! Related More Resources 2

Coca-Cola Strikes Agreement with Trump Administration Under mounting pressure from the US government, Coca-Cola has agreed to change its recipe to offer a ‘healthier’ option. Coca-Cola Strikes Agreement with Trump Administration Under mounting pressure from the US government, Coca-Cola has agreed to change its recipe to offer a ‘healthier’ option. Coca-Cola offering a cane sugar-sweetened version of its headline product in the US serves as an interesting example of a wider trend relating to the relationship between corporates and Trump.

What is the context to the Coca-Cola recipe?

The recipe to Coca-Cola syrup, which has been added to carbonated water in order to produce the final product, is a long-held trade secret. The recipe was first introduced by John Pemberton, a chemist working on the formulation in the 1880s. However, it was not until the 1890s when American businessman Asa Candler purchased the recipe and founded the Coca-Cola Company, that the sense of secrecy around the recipe was introduced (partially as an IP protection strategy, but mostly as a marketing strategy – see the World of Coca-Cola’s high-tech ‘vault’ protecting the recipe in Atlanta).

One aspect of the recipe which is well-known by the public, however, is the sweetener used. Until the 1980s, the primary sweetener being used was cane sugar. Also known as sucrose, this is a sugar made up of glucose and fructose, and is produced naturally by plants. This is incredibly widely used – in 2017, 185 million tonnes were produced across the world.

However, a major change arrived in the 1980s with the introduction of high-fructose corn syrup (also known as HFCS) to the recipes of various soft drink manufacturers (not just Coca-Cola) – largely replacing traditional cane sugar. There were a number of reasons for the change initially – the most important driving factor was cost, since HFCS is generally much cheaper than cane sugar in the US due to US government subsidies on corn production and tariffs on cane sugar being imported from abroad. As has been discussed, these are mostly US-centric points – consequently, Coca-Cola still produces its flagship drink using cane sugar in many other countries, such as Mexico, where the drink is known specifically as ‘Mexican Coke’. The change was therefore made, primarily, for economic reasons rather than anything relating to the taste of the product itself.

Why have Coca-Cola agreed to change their recipe?

Trump has taken aim at Coca-Cola’s use of high-fructose corn syrup in recent times. While he is himself an avid enjoyer of the product (often seen drinking Coke and eating McDonald’s on Air Force One, for example), most of the pressure has actually come via the Make American Healthy Again (‘MAHA’) campaign. This is mostly led by Robert F Kennedy Jr, an outspoken member of the Trump administration on matters of health who has repeatedly criticised artificial food additives like HFCS for their impact on physical health (for example obesity) and mental health (including suggestions of a link between highly processed food and autism and other neurodevelopmental disorders, which conversely lack any real basis in medical research). MAHA involves itself with not just food, but also wider aspects of societal health such vaccine development boundaries, which have divided many voters across the United States, especially post-Covid.

In response to this pressure from the administration, Coca-Cola clearly felt pressured into making the change. Trump tweeted a statement saying that the new recipe will feature ‘REAL Cane Sugar’, to which Coca-Cola responded by thanking him for his enthusiasm and, a few days later, announcing a US cane-sugar sweetened version of the drink to arrive this autumn.

However, it is worth noting that the brand is not giving up on HFCS altogether – they have also defended the ingredient as ‘just a sweetener made from corn’ in an attempt to detract from allegations of the formulation being overly artificial, and have also since clarified that this new product line is an extension of existing options – not a replacement. Executive James Quincey told media that “we are definitely looking to use the whole toolkit of available sweetening options to some extent where there are consumer preferences”.

The change is, regardless, seen as the company buckling under pressure to an administration which has been willing to use executive orders and other similar tools in order to punish companies which do not align their activities with the goals of the MAGA movement.

This is not to say that there are no other reasons for the change too, though. Consumer taste has been developing for a while, and the drive from the US administration to avoid ultra processed foods is reflective of wider sentiment by a large proportion of society who want their food and drink to appear more ‘natural’. Get LNAT-Ready – Start Your Prep Now! Master the LNAT with expert tutoring. Choose your perfect prep package today. Get LNAT Prep https://www.thelawyerportal.com/lnat/lnat-prep/lnat-prep-packages/

What could the commercial impact of this change be?

Immediately, there has been a response by other major food and drink manufacturers who are similarly seeking to win favour with the administration. For example, just a few days after the Coca-Cola announcement, Kellogg’s announced that it would be limiting its use of artificial dyes in certain cereal products within the next few years (in line with various other brands, such as Heinz, who have made similar commitments).

Producing Coca-Cola will now become (generally) more expensive as a result of the cost of cane sugar, especially amidst trade tensions which have been rising as a result of Trump’s tariff threats. Some industry commentators fear this increased cost could be passed onto consumers, which would be particularly difficult given the fact that Coca-Cola operates in a relatively cut-throat market with price-savvy consumers (who could, for example, turn to competitors like Pepsi instead).

This change is also likely to have a large impact on the corn production industry in the US, which counts soft drink companies purchasing HFCS as some of its most crucial clients. Job losses feel almost inevitable as a result, and the shares of various corn processors like ADM fell dramatically after Trump’s comments online.

What are the legal angles to this story?

This story speaks to an important point for future lawyers to understand (especially those working with corporate clients) – it is not just the power of ‘hard law’ such as statutes which drive change – in the world of business, commercial pressure often reigns supreme. By making the change, Coca-Cola are able to align themselves with an incredibly powerful MAGA administration (limiting the risk of any threats to their ongoing success, which others have faced) – in other words, they have been pressured by ‘soft power’. This is widely criticised as ‘regulation by shakedown’ by industry commentators, but has become a hallmark of the current administration under Trump.

Coca-Cola are also able to improve their image from a PR/marketing perspective by aligning with perceived health benefits – however, allegations that some of the health points may be unfounded are often at risk of resulting in some form of litigation, which lawyers again need to be aware of. Related More Resources 2

New Electric Vehicle Subsidy Scheme Launches in UK The government’s long-awaited scheme aiming to increase electric vehicle sales has come into force – but confusion over eligibility is a concern. New Electric Vehicle Subsidy Scheme Launches in UK The government’s long-awaited scheme aiming to increase electric vehicle sales has come into force – but confusion over eligibility is a concern. The recent deployment of a scheme designed to incentivise electric car ownership is a significant milestone in a wider ESG narrative, but issues have been raised.

What is the context to the electric vehicle subsidy scheme?

As readers are doubtless already aware, the push towards ‘green’ energy and investments has been a major trend in recent years. Despite facing recent challenges in the US, largely due to the often-hostile attitude of the Trump administration and Republican lawmakers towards such initiatives, the growth of ESG remains powerful within Europe and the UK.

On the frontline of this growth, one of the key aspects of the journey has been electric vehicle ownership. Taking a look at some statistics in relation to the UK’s relationship with the electric vehicle market will prove useful.

As of 2025, there are approximately 2.5 million electric vehicles in use (out of approximately 40 million vehicles in the UK on the whole). However, this does include hybrid vehicles (which combine both petrol and electric, with owners often having the choice to select which fuel source they are using at any given time) – for battery-only electric vehicles, the number drops to around 1.5 million cars. This, in short, represents approximately 4-5% of the market (back in 2021, this comparable statistic sat at just 1% of the market – growth has therefore been enormous).

The Conservative government had, for a sustained period of time, been considering a scheme whereby electric vehicle ownership would be incentivised by various subsidies. However, in 2022, it was announced that this scheme would be scrapped – the argument being that the market had matured enough independently to not require further stimuli (which costs a substantial amount of money) from Westminster.

Industry representatives were generally unhappy with this announcement, and have lobbied for the new Labour government to reconsider, which has now proved fruitful. Labour’s transport secretary Heidi Alexander recently said on the record that she wanted it to become ‘easier and cheaper’ to purchase electric vehicles in the UK, and reintroducing the idea of a subsidy was a natural progression from that position (though not the only such announcement – for example, a large investment of £63 million into car charger installations is also now in development).

What is the nature of the scheme itself?

The crux of the scheme is this – householders receive discounts (subsidies from the government) on the purchase of new electric cars.

Individual car models are sorted into different categories based on how environmentally friendly they are perceived as being (though the exact criteria being applied here is, naturally, somewhat up for debate). In the highest category, the maximum discount that may be offered is £3,750.

It is worth noting, crucially, that the subsidy only applies if the vehicle (a new electric car) is priced below £37,000. This is quite significant given the fact that the average price for a new electric car in the UK is currently £49,000 – meaning the majority of electric vehicles will not fall under this scheme. ‘Luxury’ offerings like the Tesla Model Y will therefore miss out, but more budget-friendly options like the Nissan Leaf are expected to make the cut. Boost Your Applications Receive 1-2-1 application support to jumpstart your legal career! Learn More https://www.thelawyerportal.com/events/application-advice-mentoring-for-aspiring-lawyers/

What are the major concerns with the scheme?

The major concern among the carmakers at the moment is confusion around how the vehicles will be assigned to each category. Company officials say that the process is somewhat opaque, and that they are being asked to complete application forms for government approval without understanding the full picture. Some sources suggest that certain companies have set up teams tasked specifically with predicting which of their models will fall under which category.

In response, the government has stated that it is in regular communications with car manufacturing companies around eligibility for the scheme, and will go ahead with scheduling various ‘roundtable’ discussions at which manufacturers can ask for clarification on the rules.

Another concern is the fact that the scheme only covers new cars rather than second-hand ones. The majority of vehicles purchased in the UK are second-hand – according to recent research, consumers are three times more likely to buy used than new. The main reason for this is cost – which is ironic, since the EV scheme outlined above was pitched as assisting those who would not be buying ‘luxury’ EVs – in reality, most potential EV buyers on a budget will not be looking at brand new cars. Another concern here is the fact that the scheme is designed (at least in part) to support the wider ESG mission to lower emission and reduce the environmental impact of vehicles – in reality, encouraging the purchase of new cars (whether electric or not) rather than the resale of older vehicles does not align with that goal.

What can aspiring lawyers take from this story?

There are a number of considerations here which the lawyers of the future (whether solicitors or barristers) applying to opportunities like training contracts or vacation schemes could go away and analyse. These could form fruitful starting points for discussions at interview, for example. Some of these are explicitly legal, while others are more generally ‘commercial’, with the latter being increasingly important for lawyers working primarily with corporates (such as those at Magic Circle or elite US firms).

The most obvious and important aspect of this story is undoubtedly the ESG angle – encouraging the production of electric vehicles. This is a growing area within law firms, and in contexts such as these will often be covered by those working within practice areas like renewable energy (sometimes a distinct practice area, sometimes grouped into something like ‘energy law’ more broadly, or adjacent terms like ‘projects’ or ‘infrastructure’).

Another relevant aspect to this story could be a public law angle – analysing the relationship between the government and corporate bodies in contexts such as these. For example, imagine if your client was a car manufacturer who wanted to challenge the government’s decision not to award it with a subsidy under the new scheme – a judicial review case could be on the horizon. Outside of going straight to court, though, lawyers should consider how to foster good relationships between these parties (and avoid the need for litigation altogether), such as through the roundtable discussions that the government are proposing in order to alleviate concerns about this scheme. RELATED More Resources 2

Tech Company Figma Seeks US IPO Figma, a tech company which creates software aimed at designers, is preparing for its IPO on the New York Stock Exchange. Tech Company Figma Seeks US IPO Figma, a tech company which creates software aimed at designers, is preparing for its IPO on the New York Stock Exchange. Future lawyers interested in corporate law (particularly equity capital markets) should follow upcoming IPOs with interest, and the latest example comes from exciting tech company Figma.

Who are Figma?

Figma Inc is a technology company which is known for developing web applications aimed at designers. It was founded in 2012 by Dyland Field and Evan Wallace, who were at the time university students at Brown University. The pitch, according to its founders, was to allow ‘anyone to be creative by creating free, simple, creative tools in a browser’. The organisation is based in San Fracisco, California.

What are Figma’s Tools?

The type of tools designed by Figma are vaguely similar to Canva (perhaps a more well-known, household name amongst the general public), but with a greater emphasis on professionals working in UI/UX design (rather than beginners, or those seeking to create more simple graphics). Figma also allows for greater collaboration, with live multi-user editing and code handoff tools.

In more recent years, Figma have jumped aboard the artificial intelligence (AI) bandwagon by rolling out AI-assisted tools, such as ‘Figma Slides’ (released in beta form in mid 2024), which allowed for collaborative presentation projects with assistance from AI.

How big is Figma?

Monthly active users stand at approximately 13 million currently, but includes a range of large institutions such as Microsoft and Google. The customer base is also particularly strong internationally, with approximately 85% of its users being from outside the United States.

How have Figma been performing?

Figma have generally experienced strong growth in their early years. Its overall valuation has risen massively from around $2 billion in 2020 to approximately $16 billion today. It has achieved this growth through a number of capital injections from various investors over the last few years, including $40 million Series C from Sequoia Capital in 2019, $50 million Series D from Andreessen Horowitz in 2020, and $200 million Series E from Durable Capital in 2021. Silicon Valley-based venture capitalists have spoken highly of the organisation for a number of years. These large investors are following the upcoming listing with interest, since it has been seen by many as a form of test-run of a venture-capital backed technology start-up hitting the IPO market after a few years of difficult forecasts.

The company’s 2024 revenue reached almost $750 million, showcasing an impressive year-on-year growth up 48%.

Recent additions to bolster performance include industry veterans like Luis von Ahn (co-founder of Duolingo) and Mike Krieger (co-founder of Instagram). Keep Up With The Latest News Boost your Commercial Awareness Subscribe Now https://www.thelawyerportal.com/newsletter/?_gl=1*1sgwpxt*_up*MQ..*_ga*MTgwNzQ1NTkwNS4xNzMzNzQwOTcx*_ga_XFZTGLKX00*MTczMzc0MDk3MC4xLjEuMTczMzc0MTAxNi4wLjAuMA..

What is an IPO?

An IPO (initial public offering) is a crucial process for aspiring corporate lawyers to understand – while the concept is not generally taught within undergraduate law degrees/law conversion courses like the PGDL, and even the SQE’s Business Law and Practice module fails to cover the topic in any depth, it is often covered as part of any supplemental firm-specific law school courses after the SQE (such as on BPP’s ‘Essentials for Practice’) as part of studies around Equity Finance.

In short, an IPO is the first time that a company sells its shares, usually by listing on a stock exchange, to the public. There are a number of key parties involved. Aside from the company itself, underwriters will be selected – these are usually large financial institutions who run the process, including matters of due diligence, filing, and marketing. The underwriters also generally agree to purchase the shares themselves (often with a view of passing some of those shares onto the public once the listing occurs).

Why would a company attempt an IPO?

The main reason for a company to complete an initial public offering is to raise capital – by selling shares, the organisation can raise a large amount of money, which is then used for further growth or expansion. This is a form of equity financing – unlike with debt, there is not the same pressure to meet repayment deadlines or worry about ‘gearing’ requirements (though there will be similar pressure to grow the company’s value and issue dividends). The process also increases the public profile of the company (improving its reputation worldwide if listed on a reputable exchange).

There are, of course, drawbacks to the process, too. The process of preparing for an IPO is extremely expensive and time-consuming. In Figma’s case, financial institutions advising include Morgan Stanley and Goldman Sachs, while the legal advisors include Fenwick & West (advising Figma) and Latham & Watkins (advising the underwriters). Furthermore, an IPO means the company will remain on the New York Stock Exchange going forwards – listing on any major stock exchange means heavy ongoing administrative work relating to legal processes like disclosure and reporting requirements.

Why is Figma using New York for its IPO?

The New York Stock Exchange is a world-renowned platform for initial public offerings. As a result, there is a level of prestige associated with this exchange, which simultaneously houses long-term, well-established organisations (known as ‘blue chip’ companies). A listing in New York also gives access to the US equity capital markets, which are the deepest in the world – with especially high funds available for investment into technology companies like Figma. Furthermore, a number of most of the major investors already mentioned in Figma are based in the US (for example, Sequoia Capital).

The London Stock Exchange, or LSE, has, in contrast, been somewhat troubled in recent years in relation to attracting listings. The equity capital markets, while relatively well-developed, are generally less deep, the valuations tend to be more conservative and value-orientated (whereas US tech stocks can often ride a wave of optimism and ‘hype’ to some extent), regulation in the UK is generally quite heavy, and private equity is becoming increasingly dominant (an alternative to listing on a stock market).

Why is Figma’s IPO useful for aspiring lawyers to understand?

IPOs are crucial moneymaking processes for the equity capital market practices at various major City law firms. Furthermore, exciting growth industries like US-based tech companies are always attractive clients for solicitors to advise. In the UK, the leading firms carrying out this kind of work (and therefore the ones who would be most interested in hearing about your analysis of this story in an application) include Magic Circle and elite US outfits. Based on the most recent Chambers rankings, the leading firms in Band 1 include A&O Shearman, Clifford Chance, Linklaters, and White & Case. Related More Resources 2