Is there a lucrative type of business law that's non-biglaw?

A forum for applicants and admitted students to ask law students and graduates about law school and the practice of law.
User avatar
threeplusthree
Posts: 7
Joined: Fri Aug 09, 2013 3:48 am

Is there a lucrative type of business law that's non-biglaw?

Postby threeplusthree » Sat Aug 10, 2013 3:49 am

If a person's not working in biglaw, but dealing with business matters like company formation (think small startups), business contracts, and the like, is there a lucrative market for that at a smaller level?

We have so many small businesses going into and out of existence each year or expanding/changing, I'm curious what the legal services market is like for them?

User avatar
guano
Posts: 2268
Joined: Mon Feb 18, 2013 9:49 am

Re: Is there a lucrative type of business law that's non-biglaw?

Postby guano » Sat Aug 10, 2013 7:31 am

threeplusthree wrote:If a person's not working in biglaw, but dealing with business matters like company formation (think small startups), business contracts, and the like, is there a lucrative market for that at a smaller level?

We have so many small businesses going into and out of existence each year or expanding/changing, I'm curious what the legal services market is like for them?

There are specialist boutiques that can be just as lucrative as biglaw

User avatar
Scotusnerd
Posts: 813
Joined: Sat Oct 01, 2011 7:36 pm

Re: Is there a lucrative type of business law that's non-biglaw?

Postby Scotusnerd » Sat Aug 10, 2013 8:37 am

Commercial real estate, if you can get into it, can be very lucrative.

UMich11
Posts: 409
Joined: Thu Apr 12, 2012 8:34 pm

Re: Is there a lucrative type of business law that's non-biglaw?

Postby UMich11 » Sat Aug 10, 2013 11:13 am

threeplusthree wrote:If a person's not working in biglaw, but dealing with business matters like company formation (think small startups), business contracts, and the like, is there a lucrative market for that at a smaller level?

We have so many small businesses going into and out of existence each year or expanding/changing, I'm curious what the legal services market is like for them?


M&A

timbs4339
Posts: 2733
Joined: Sat Apr 02, 2011 12:19 pm

Re: Is there a lucrative type of business law that's non-biglaw?

Postby timbs4339 » Sat Aug 10, 2013 2:01 pm

threeplusthree wrote:If a person's not working in biglaw, but dealing with business matters like company formation (think small startups), business contracts, and the like, is there a lucrative market for that at a smaller level?

We have so many small businesses going into and out of existence each year or expanding/changing, I'm curious what the legal services market is like for them?


Boutique firms are going to hire people out of biglaw firms.

Small businesses usually hire local firms. Every reasonably sized county probably has a couple of 10-50 person firms that handle general corporate work.

utlaw2007
Posts: 783
Joined: Wed Dec 22, 2010 9:49 pm

Re: Is there a lucrative type of business law that's non-biglaw?

Postby utlaw2007 » Mon Aug 12, 2013 7:42 pm

Read this thread for more info. There's a lot to it. But I do talk at length about the market for very small firms and the demand out there for them to meet. The short answer to your question is yes. And this includes firms outside of prestigious boutiques including mine.


viewtopic.php?f=4&t=210075
Last edited by utlaw2007 on Mon Aug 12, 2013 8:17 pm, edited 1 time in total.

utlaw2007
Posts: 783
Joined: Wed Dec 22, 2010 9:49 pm

Re: Is there a lucrative type of business law that's non-biglaw?

Postby utlaw2007 » Mon Aug 12, 2013 8:12 pm

While there is a lucrative road outside of biglaw in the business law realm, it is very difficult to travel at the small firm level. So this should not be viewed as a safety net to financial success if you miss the biglaw boat. There is nothing "fallback" about this pathway. Your question was if it exists. Lottery winners exist. That doesn't mean it's likely that you'll win the lottery. Obtaining financial success at the small firm level in legal business areas is far more likely than winning the lottery. But that is not saying much. It is still exceedingly difficult even if someone follows the steps I laid out in the thread.




Return to “Ask a Law Student / Graduate”

Who is online

Users browsing this forum: No registered users and 1 guest