Hoferer Presents 'Preparing for Business Practice'
On September 9, 2010, Paul R. Hoferer ’75, gave a Business and Transactional Law Center Lunch and Learn presentation on "Preparing for Business Practice: Classes, Clients and Conflicts." Mr. Hoferer retired in 2008 from his position as Vice President and General Counsel for BNSF Railway Company, where he worked for 43 years. He is currently Of Counsel at Lathrop and Gage in Kansas City, Missouri. Mr. Hoferer was the 2009 School of Law Alumni Fellow, and is currently Vice-President of the Washburn Law School Alumni Association as well as a member of the Washburn University School of Law Board of Governors.
Mr. Hoferer outlined three strategies that students preparing for business practice might want to keep in mind. First, he urged the students to know their clients. If there is an indemnity provision in a contract, he suggested, understand how that shifts liability and whether the client has any control of the premises in question. Knowing his or her client helps an attorney suggest alternatives (e.g. insurance) and provide better representation.
Second, Mr. Hoferer urged future business attorneys to learn to be brief. A 25-page document may be too much to ask a business client to read. A four-page summary may be more realistic. He suggested that new attorneys should think about the purpose and audience for a document, and focus on the essentials such as the business case, costs, and risks.
Third, Mr. Hoferer reminded students that litigation and legal matters interfere with a company's operations. He pointed out that business executives do not make any money for their company while they are being deposed, and part of a business attorney's job may be to prevent litigation. He encouraged students to exercise judgment in their practice, and to avoid unnecessary conflict that may be unproductive for the client.
In terms of classes that students preparing for business practice might want to consider, Mr. Hoferer identified several that he wished he had taken in law school. For his practice, he said, Insurance Law, Environmental Law, Administrative Law and Creditors' Rights would have been very helpful.
In closing, Mr. Hoferer asked students to remember that they have a civic duty as attorneys to help out in their communities. He reminded them to maintain a positive attitude, and to enjoy the journey.
Posted September 23, 2010.
