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Is there a lucrative type of business law that's non-biglaw?
Posted: Sat Aug 10, 2013 3:49 am
by threeplusthree
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?
Re: Is there a lucrative type of business law that's non-biglaw?
Posted: Sat Aug 10, 2013 7:31 am
by guano
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
Re: Is there a lucrative type of business law that's non-biglaw?
Posted: Sat Aug 10, 2013 8:37 am
by Scotusnerd
Commercial real estate, if you can get into it, can be very lucrative.
Re: Is there a lucrative type of business law that's non-biglaw?
Posted: Sat Aug 10, 2013 11:13 am
by UMich11
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
Re: Is there a lucrative type of business law that's non-biglaw?
Posted: Sat Aug 10, 2013 2:01 pm
by timbs4339
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.
Re: Is there a lucrative type of business law that's non-biglaw?
Posted: Mon Aug 12, 2013 7:42 pm
by utlaw2007
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.
http://www.top-law-schools.com/forums/v ... 4&t=210075
Re: Is there a lucrative type of business law that's non-biglaw?
Posted: Mon Aug 12, 2013 8:12 pm
by utlaw2007
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.