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Are there more or less "portable" practice areas?
Posted: Sun Aug 29, 2021 4:16 pm
by Nonamesen
I have a couple practice areas in which I'm interested, and thought this may be a tiebreaker if it comes down to it. I'm not sure if such a concept as portability even exists for practice areas, but if it does, which practice areas would:
1. Restrict me to a narrower range of markets, or even prevent me from, lateraling out?
2. Give me an advantage, e.g., because they're in high demand in most markets?
3. Be practically neutral, so that there's neither a disadvantage nor an advantage?
Re: Are there more or less "portable" practice areas?
Posted: Mon Aug 30, 2021 10:31 pm
by Anonymous User
For major market to tertiary market, portability is definitely a thing. The most portable are probably M&A (especially closely-held M&A to the extent it exists at big firms), T&E, L&E, and real estate. The least are practices specific to one major market or major firms (e.g. Delaware chancery litigation, Chapter 11, a lot of DC regulatory stuff). General commercial lit and white collar are in between, it’s portable in that the practice exists but not ideal in that you’ll likely be behind in trial experience.
Re: Are there more or less "portable" practice areas?
Posted: Mon Aug 30, 2021 10:48 pm
by existentialcrisis
M&A is portable.
Securities/Cap Markets is relatively portable, I’d think. More deal flow/firms hiring in major markets obviously, but there are public companies based all over, so presumably it’s portable in terms of in house options in secondary markets.
Credit is not that portable. Heavily in major markets, especially for in house options.
Project Finance is not that portable domestically.
Re: Are there more or less "portable" practice areas?
Posted: Mon Aug 30, 2021 10:57 pm
by 2013
L&E is probably the most portable (unless you’re doing CA stuff). Then it is probably stuff related to deals (M&A, tax, benefits, IP) and real estate.
Re: Are there more or less "portable" practice areas?
Posted: Tue Aug 31, 2021 7:08 pm
by Anonymous User
What's L&E?
Re: Are there more or less "portable" practice areas?
Posted: Tue Aug 31, 2021 7:12 pm
by Anonymous User
I think labor and employment.
Re: Are there more or less "portable" practice areas?
Posted: Tue Aug 31, 2021 7:37 pm
by 12YrsAnAssociate
The first response hit on this, but I'll say it anyways because I'm here.
There are lots of DC-specific practice areas that will keep you tied to DC for your entire career. For example, national security, international trade, working across from some niche federal agency? You're probably not doing any of that outside of DC. I knew lots of people in DC that were definitely never going to leave the area. They might go to an agency, or to a lobbying group, or to a client, but no matter what the agency and the lawyers they were going to deal with were all in DC. I'm sure the same is true if you do some state government work. I bet there's some niche California agency related work, and if you get into that work you'll either live in Sacramento or fly to Sacramento regularly.
The above-poster listed white collar as similar. I've reached the same conclusion. I did lots of white collar work in DC, and when I left DC for family reasons, I was totally unable to get clients to come with me even though I was the lawyer they called with their white collar issues for years. I think there's an idea that if you get hit with a government investigation, you should call a 202 number.
It's definitely smart to think about this before you choose a group like the ones I've listed.
Re: Are there more or less "portable" practice areas?
Posted: Tue Aug 31, 2021 8:14 pm
by Anonymous User
What about IP lit? I’m also curious about lateraling from an IP boutique to a general practice firm. Will the firm appreciate the early trial experience or not like the fact that you’ve only done one type of law?
Re: Are there more or less "portable" practice areas?
Posted: Tue Aug 31, 2021 9:18 pm
by Anonymous User
12YrsAnAssociate wrote: ↑Tue Aug 31, 2021 7:37 pm
The first response hit on this, but I'll say it anyways because I'm here.
There are lots of DC-specific practice areas that will keep you tied to DC for your entire career. For example, national security, international trade, working across from some niche federal agency? You're probably not doing any of that outside of DC. I knew lots of people in DC that were definitely never going to leave the area. They might go to an agency, or to a lobbying group, or to a client, but no matter what the agency and the lawyers they were going to deal with were all in DC. I'm sure the same is true if you do some state government work. I bet there's some niche California agency related work, and if you get into that work you'll either live in Sacramento or fly to Sacramento regularly.
The above-poster listed white collar as similar. I've reached the same conclusion. I did lots of white collar work in DC, and when I left DC for family reasons, I was totally unable to get clients to come with me even though I was the lawyer they called with their white collar issues for years. I think there's an idea that if you get hit with a government investigation, you should call a 202 number.
It's definitely smart to think about this before you choose a group like the ones I've listed.
First responder. I actually have practiced some tertiary-market white collar and think you’re probably right. It’s a practice that’s heavy on repeat players with extensive experience with the particular USAO and state agencies. White collar definitely exists in my market but having experience or even clients for DC work may not be all that helpful to building a Minnesota or Colorado practice. The investigations side also may not carry over because having expertise in e.g. large-scale pharma kickbacks isn’t too useful to e.g. community bank fraud, which is closer to our bread and butter. And since smaller outfits defend individuals more often the trial experience also matters.
Re: Are there more or less "portable" practice areas?
Posted: Tue Aug 31, 2021 9:21 pm
by Anonymous User
Real Estate is one that sticks out for being very portable. There are office buildings, hotels, and land everywhere. Firms can have giant groups in major markets, but you'll still often attorneys scattered out anywhere they have satellite offices.