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Shepdawg is completely incorrect about unpaid SUMMER jobs. Any legal work you can put on your resume is better than showing up at OCI and having to explain why there's nothing there and you have nothing to talk about.
I agree with everyone above about 1L. I'd be skeptical of these employers that you can not get credit for (unless it's actually your decision not to pay absurd tuition to do free work, which is what most schools do) because most schools give at least pass/fail credit for at least one internship if the employer will have you doing substantive work.
It is definitely worth it to do unpaid internships during 2L and 3L years. I interned at one place for two semesters, the second without class credit because I liked it so much, and I might end up there permanently (there are some contingencies, but they have made it clear that they want to hire me, which is cool because I did not go into it thinking I might get an offer out of it... I just like the work). At the very least, depending on the people and how long you're there, you build up your professional network and gain recommenders and references for future job hunts and clerkship applications. It also opened my eyes to a practice area that I now want to specialize in but had not even really considered before.
I strongly suggest trying to find a place you could work for more than just one semester. They can't really get to know you in a couple months, but they will know you very well by 6-12 months.
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