Hotshot, the video-based learning platform for lawyers used by Am Law 100 firms, law schools, and corporate legal departments, announced the launch of its innovative M&A simulation, giving law firms the tools needed to run their own experiential M&A training programs for associates. The new offering addresses the growing demand from law firms in interactive, learning-by-doing training programs they can run themselves, ensuring a practical, firm-specific approach.
The simulation reduces the time and resource burdens that typically come with designing these programs from scratch and includes:
- A hypothetical company and transaction
- Assignments for junior and midlevel associates
- Deal documents and diligence materials
- Simulated Zoom kickoff calls where the associates are given the assignments
- Detailed planning guides to run a successful program
- Discussion prompts for partners so they can add their insights, share war stories, and teach their firm’s unique way of doing things
“Law firms have long been asking for help to develop customizable, firm-led training programs, and we’ve answered with a solution that meets their needs for efficiency and effectiveness,” said Ian Nelson, Co-Founder of Hotshot. “There’s no one better to train a law firm’s associates than its own lawyers but creating these programs from scratch has always been a challenge. With this simulation, we’ve removed the time and resource barriers, allowing firms to focus on developing their talent in their own way.”
Several large law firms are already rolling out the M&A simulation to their associates, with demand rising for additional simulations in other practice areas. Hotshot plans to expand its simulation library to cover a wider range of practice areas.
One of the first law firms to adopt the Hotshot simulation is Holland & Knight. Kate Inman, who is Of Counsel at the firm and involved in the law firm’s training programs for corporate associates, said that “we chose Hotshot's M&A simulation because it allows us to deliver experiential training that’s directly aligned with our firm’s culture and way of doing things. It’s critical that our associates not only learn the technical aspects of a deal through practical deal simulation exercises, but also understand how we approach specific issues, client service, and relationship building. By integrating the simulation with trainings led by senior lawyers at the firm, we are able to ensure junior associates learn the practical skills they need, while also developing deeper connections with our senior lawyers. “Using the Hotshot simulation also saved us a significant amount of time—we didn’t have to create the program from scratch and were able to spend more time focused on the H&K way of doing things,” she added.
Catherine Schenker, Director of Training & Development at Holland & Knight said, “Hands-on learning is more important than ever. Associates need to build key skills like problem-solving, critical thinking, and communication. Hotshot’s M&A simulation does exactly that. Through a mixture of live and asynchronous lessons, the associates practiced due diligence, spotting red flags, and e-mail writing. They then received direct feedback from partners. And, since all the materials were ready to go, we could focus on delivering the training and keeping our firm’s approach front and center.”
To mark the launch, Hotshot is offering pilot pricing on the M&A simulation through the end of 2024. Law firms that participate in the pilot now will have the opportunity to shape future offerings by providing feedback on content, structure, and additional practice areas. Early adopters will play a key role in shaping the simulation’s next iterations, ensuring it continues to meet the evolving needs of law firms, their associates, and clients.
“This new simulation empowers firms to maintain their distinct culture and approach to training,” said Emily Gottheimer, Director of Content at Hotshot. “It also ensures associates are prepared to succeed at do more than understand the basics.”
Firms can go here to learn more about Hotshot’s M&A simulation, special pilot pricing, and how your firm can participate.
About Hotshot
Hotshot is a video-based video platform for lawyers. They offer 300+ short, practical videos across corporate, litigation, and business topics and support on demand learning, experiential learning, and CLE. Hotshot’s customers include half the Am Law 100 law firms, regional and boutique firms, top law schools, and companies. To learn more visit www.hotshotlegal.com.
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Contacts
Ian Nelson, Co-Founder
ian@hotshotlegal.com
