Today we speak with Julie E. Treumann, a newly elected partner at Ungaretti & Harris in the corporate, securities and finance group, who has been practicing for seven years.
What do you find the most interesting about your practice?
What I find the most interesting is the wide array of industries and business in which our clients are involved and helping them sort through legal issues in these various contexts. For example, one day I might be negotiating a distribution contract with an international chocolate manufacturer on behalf of a client in the gift packaging business and the next day negotiating a master services agreement for IT services consulting with a pharmaceutical company, an auto manufacturer, or a national women’s clothing retailer. I also work on a range of transactions, from large hospital transactions, generally representing a not-for-profit seller in the sale of a hospital to a for-profit hospital system, to the sale of a single mailbox, postage, and mailing supplies franchise outlet.
In each negotiation and transaction, I learn things about the particular industry that impact the business of the clients. For example, chocolate cannot be stored in a warehouse, or shipped, with cut flowers. While this may seem like a small detail, it becomes very important when a client purchases tens of thousands of chocolate pieces for resale, so we want to think about warranty rights, refund, and replacement. It is this kind of inside look that I find the most interesting.
What makes a good lawyer?
In my practice, I’ve learned that what makes a good lawyer is knowing the law and the client’s business and helping the client strike the right balance between legal and practical solutions. The “right balance” is different for each situation, but generally speaking it is the one that gets the contract signed or the deal closed with the least amount of risk to the client. I would love to draft a perfect contract that provides absolute protections for the client in each provision, but it would be too one-sided, never be signed by the other party and ultimately be useless to the client. Instead, in striving to be a good lawyer and add value to clients, I work to assess and explain risks and recommend negotiable alternatives. This is not always as easy as it sounds.
As a younger lawyer, I would sometimes become frustrated at those times when I could not understand why a client was willing to agree to a certain provision, despite my explanation of the risks involved. Over time I have learned that the right balance does involve accepting risk and now I work with clients to identify non-starter risks versus more palatable risks.
What is the biggest legal news right now, and what is its impact?
The biggest legal news right now is the same as the biggest news everywhere: the economy. Our clients and their businesses are impacted, from running day-to-day operations to obtaining financing for transactions to employment matters. Clients may not be able to reach goals for this year or may have to accelerate a planned sale of a business in a distressed situation or terminate employees. However, this can be a time to plan for the future. For example, we can help clients look at the assets in their intellectual property portfolios to make sure they are properly protected and to potentially add value in a future sale.
As the Mom of this very accomplished new partner, I am very delighted in all she has been able to do. She even gets the accounts that might utilize her French and German skills. Whatever Julie does, she gets it right and does it with efficiency. That goes for having a 4 year old, and a new baby at home! Our daughter has our sincere congratualtions. And for your firm, you have a tremendous aquisition! Proud parents, Kathy and Mark Lund