An Applied Approach to Property Law: A Transactional Focus Robin Paul Malloy, JD, LLM E.I. White Chair and Distinguished Professor of Law Kauffman Professor of Entrepreneurship and Innovation College of Law, Syracuse University Syracuse, NY

An Applied Approach How of Law… law provides a tool box; how do we use it to achieve desired outcomes [not what is property, not why do we have property, but how do we use the tools of property, and other areas of law, to achieve X; how do we use law strategically and for strategic gain] What is the lawyers role in a transaction [is the lawyer a scrivener of the deal or something more, and how can we understand this role in a way that can be effectively communicated to the legal community, including law students, so as to improve the effective practice of law in everyday transactions]

Property Transactions Exchange of fixed assets for value (to the transactional lawyer property is a process of fixing assets for exchange) Client and Lawyer share objectives in the exchange – Minimize risk of Loss – Maximize RIBE (Reasonable Investment Backed Expectations) – Add Value

LAWYER Knowledge Judgment Strategic Action Asset Idea Developer/Owner

Functions a) Document and Structure the Deal b) Organize Time c) Manage Risk Strategies a) Time value of Money b) Relationship between Risk and Return c) Maximize RIBE Opportunities a) competitive profits b) asymmetrical profits c) creative profits

Difficulties Objectives (need to clearly understand both immediate and ultimate objectives of the transaction) Interdisciplinary Context (market and socio-legal dimensions to successful strategic applications) Multiple Perspectives (need to map the potential strategic motivations of multiple parties in the exchange)