Back in 2009, Drexel University Earle Mack School of Law professor Karl Okam0to developed a transactional law competition where law students competed to negotiate the best deals for their fictional clients. Due to its popularity, Okam0to expanded the competition in 2011 by launching LawMeets, a free website that provides transactional simulations to law students. The students submit videos in which they offer legal advice to solve the business scenario. The videos are peer-rated and the best videos receive expert analysis.
Recently, LawMeets received a $500,000 grant from the National Science Foundation to further develop its offerings. In October, LawMeets will expand its offerings with a series of free online courses that combine lectures and simulations that explore the more intricate elements of transactional law. Professor Okamoto hopes the new courses will help fill in the holes that many business law courses neglect to address, since most focus on legal doctrine and case law rather than the particulars of business deals.
The first LawMeets course will discuss the Basics of Acquisition Agreements, and will last two weeks (Oct. 23- Nov. 7). The course will include four video lectures, four interactive simulations, and two panel discussions that will be moderated by LawMeets faculty and transactional lawyers. The appealing aspect of this online course is that you can view the lectures online at your own convenience—there will be cutoff dates for video submissions however.
Okamoto plans to follow up with courses on drafting operating agreements and the basics of advising start-up companies.
Check out the LawMeets website to learn more about Okamoto’s transactional competitions and free online courses.
If you’d like to learn more about negotiating your transaction or understanding your rights and obligations for your business deal, please feel free to contact us today.
