In early November GOP presidential hopeful Donald Trump famously embarrassed himself at the Republican presidential debate, when he said that China would be the biggest beneficiary of the new Trans-Pacific Partnership. As Kentucky Sen. Rand Paul quickly pointed out, China isn’t part of the TPP.

Lawyers, however, have been watching the trade agreement much more closely over five years of negotiations, and by now they have a fairly good idea of what it will deliver—for both their clients and their firms.