5 Booming Practice Areas for Law Firms Looking to Grow
As the legal market begins to pick up, not all practice areas are growing equally. The growth in a few areas is far outpacing the rest. How can you tell which practice areas are booming these days? Look at who's hiring.
What's booming according to legal staffing companies? Several distinct practice areas have seen increased hiring and growth, reports Lawyer and Statesman magazine. These areas are expected to see continued growth over the next few years as well -- great news for a firm looking to expand.
1. Labor and Employment
Labor and employment issues arise whenever companies are hiring or firing, but expect faster than usual growth in this area as longtime practices are upended in the coming years. Lawyers should start looking forward to the expansion of overtime pay, changes in minimum wage, and the Supreme Court tinkering with employment law.
2. Administrative Law
Whether it's filing for disability or getting a building permit, administrative law claims and hearings can be incredibly important to a client's well-being. Having an experienced advocate on hand, or guiding an appeal, is becoming more common. As Boomers become retirees, expect big growth in practice areas touching on Medicare, Social Security, and other admin law issues.
3. Health Care Law
Health care is a huge industry and one that needs plenty of lawyers. Health care law is booming as hospitals, doctors, and insurers grapple with Obamacare, regulatory compliance, corporate mergers, and good old-fashioned malpractice.
4. Intellectual Property Law
Intellectual property is becoming the bedrock of corporate value. This has led to increased litigation around patents, trademarks, copyrights, and other intellectual assets. Entry into the IP world can be difficult, however. In general, a firm's lawyers must have some background in physics, engineering, or the sciences to start up a successful IP practice.
5. Cybersecurity Law
If you read FindLaw's legal technology or corporate counsel blogs, you'll know that cybersecurity is a hot topic these days, and one that isn't going to vanish anytime soon. Further, cybersecurity is on the minds of corporate executives who are increasingly looking to outside counsel to guide them through establishing a strong data protection system or dealing with the aftermath of a breach.
- What's Hot and What's Not in the Legal Profession (ABA's Law Practice)
- Don't Just Grow Your Small Firm, Grow it Smart (FindLaw's Strategist)
- Join Niche Bar Associations to Enrich Your Legal Practice (FindLaw's Strategist)
- Advising a Corporate Client? Think Ethically, Not Just Legally (FindLaw's Strategist)
You Don’t Have To Solve This on Your Own – Get a Lawyer’s Help
Meeting with a lawyer can help you understand your options and how to best protect your rights. Visit our attorney directory to find a lawyer near you who can help.