Today, during a one-on-one session, a 4th-year law student raised a very genuine concern.
During her internship, she was asked to review a Shareholders’ Agreement (SHA). No factual background was shared. No context of the transaction was explained. She was unfamiliar with SHAs and struggled to meaningfully comment on the document.
Her discomfort was real and understandable.
A Word to Law Firms and Senior Associates
Assigning work to interns without explaining the background or expectations is unfair. A short briefing on the transaction, the parties involved, and the objective of the document can significantly enhance learning.
Senior associates must remember they were interns once too. Internships are meant to train and mentor, not merely to extract work.
Now, a Reality Check for Law Students
Not knowing any document at the start is acceptable. Not preparing is not.
If you are interning with a corporate or M&A team, you are expected to do some basic groundwork. You are expected to know basic documentation, legal due diligence process, research method for opinion work, and awareness about certain corresponding sections from Companies Act, FEMA, and SEBI Regulations.
A Shareholders’ Agreement is a core corporate document. At the very least, students should be familiar with the typical clauses found in an SHA, such as:
- Capital contribution and shareholding structure
- Board representation and governance
- Affirmative voting or veto rights
- Transfer restrictions like ROFR, ROFO, tag and drag
- Deadlock resolution mechanisms
- Exit and termination provisions
You don’t need mastery on day one. You need familiarity and intent.
Many students struggle during internships not because the work is too complex, but because they step in without spending even a few hours understanding the practice area they are entering. Know the practice areas of the firm or ask before joining as an intern and prepare yourself.
I keep saying this again and again, an internship is nothing but a long interview. Every assignment, every question you ask, every deadline you meet, and every document you read is being noticed.
This is your chance to show preparedness, curiosity, and willingness to work hard.
Your goal during an internship is to demonstrate that you can be a dependable resource in the future. In this process, every action counts. Nothing is too small to matter. This is the exact reason why despite doing multiple internships many are unable to secure PPO or even assessment internship.
Preparation doesn’t guarantee success, but lack of preparation almost guarantees struggle.