The Business of the Practice of Law

THE BUSINESS OF THE PRACTICE OF LAW

There are many great classes to take during law school. But there is one class that is an absolute must for many of us law students, who want to make a satisfying legal career. It is the “Business of the Practice of Law,” taught by professor Steve Sharaf. Stop! Don’t just dismiss it because it does not teach you substantive law or how to pass the bar exam. Say, you did great in school and passed the bar exam. What now? How do you make the best use of your license?

That the money "is out there," does not mean it will be yours just because you happen to have a law degree. People tend to think that they will be a valuable resource for law firms or can be good attorneys just because they have a license, can do a decent legal research and are smart. These are the bottom line prerequisites for being a lawyer, not something that guarantees success. That's what we talked about in this class: how you pave your path to success as a lawyer.

It strikes me as another wonderful opportunity our school offers that others don’t. It gives you time and credit for sitting down and thinking about your life, your career opportunities, and how to make yourself a happy person by choosing the career that suits you most and that will give you both professional and financial satisfaction. Don’t get me wrong: nobody will take you by the hand and place you in that desired position. You have to do it yourself. But this class will help you to do this timely and efficiently.

Many students have a vague idea of what exactly they will do after graduation. Or, they may think they know it, but in fact, they don’t, because they don’t know how things work in practice. Many expect to be making substantial money soon. At the same time, they don’t know the market, they don’t know how to promote themselves or how to advertise efficiently, or how to ensure a smooth cash flow. They select a target consumer sector and expect that just because there is demand, the customers will go to them, and not to their competitor. Some are going to start their own businesses right out of law school; at the same time, they have no practical experience whatsoever in the sphere or spheres they want to practice. They are prepared to pour money into something they don't know how to do. It is pleasant to invest in yourself and be in charge. But would an objective third party invest in you? Would you invest in someone who had no experience and little understanding of how things work in a particular area? Not likely. Surprisingly many want to be general practitioners, despite the known joke of "general malpractice." They don't do much networking, so they'll get no referrals and not much of advice, which they will desperately need when they start out. When I am writing this, I am also writing about myself – before this class.

Those who hope to secure positions in large law firms – don’t think this does not concern you. You will have to compete for you position. Besides, there is a lot of career dissatisfaction among young associates at the major law firms today. High pressure, unrealistic billing hours, no personal life, little prospects of advancement, no autonomy – think hard about whether you want to jump at a first high-salary offer without having all these in mind. Will it work for you? How do you make it work? Find it out now.

Each of us in this class developed a personal business plan. This was not a business plan in its pure meaning. It was a personal plan of how to get what you want in your career. There are many things to think about: how to choose the rights area of practice, how to find a position that will be good for you, how to make yourself stand out in the market where there is a lot of competition, how to get the desired position, how to make sure your position brings you professional development and satisfaction, what to do if you realize that you are in the wrong position and you need to change it; finally – answering honestly whether, after all you’ve learned about it, you still want to be a lawyer. It is better to find out before you make a major mistake in your life. Instead of closing your eyes on the problem – face it, and develop a strategy to address it. Don’t go into the legal world unprepared. Know what to expect, what to do, and how to do it. This is what this class is all about.

Nadia Voronova