If you are thinking about becoming a lawyer, there are many areas you can specialize in. For example, there’s environmental law, bankruptcy law, civil litigation, and business law. Each category also has opportunities for further specialization; a business lawyer might prefer to focus on intellectual property, for instance. In fact, business law can be a fun and challenging area to work in for the right people. Here are some reasons why.
1. You Can Work With a Diverse Yet Specialized Client Base
Many types of businesses exist, and you can carve out niches by, say, working with only small businesses. Similarly, you may prefer to work with large companies or even foreign companies. The sky is the limit; attorney Suzzanne Uhland has represented clients such as SeraCare Life Sciences, New Century Financial Corporation, and Spyglass Entertainment.
The truth of the matter is that many entrepreneurs, companies, and nonprofits need you. They need lawyers to advocate for them. A career in business law gives you the chance to, for example, heighten the visibility of female entrepreneurs or to fight for expanded corporate protections. Whatever your beliefs and passions are, there is an area for you.
2. Business Law Weathers Tough Economic Times
If the economy turns bad, business lawyers should still have plenty of work. One reason for this is the sheer number of legal opportunities in the field. A lawyer could focus on one or more of the following areas:
- Nonprofit law
- Corporate law
- Business transactions
- Business financing
And the above list is just the tip of the iceberg. Going back to the topic of tough economic times, no matter how bad things are, businesses will always need help with contracts, taxes, incorporation, and much more.
3. You Want to Own a Business
Have you always wanted to be your own boss? How about opening a law firm? A career in business law lets you do exactly that, and perhaps best of all, your studies relate directly to business ownership matters as well as business law issues. You won’t waste a morsel of knowledge, whether it is from college studies or from continuing education.
4. You Want a Well-Rounded Career
Speaking of being your own boss, a career as a business lawyer gives you the chance to be much more than a lawyer. You could also become a university professor, conference speaker, author, blogger, or even community leader. A background in business law gives you an air of credibility and authority for these additional pursuits.
5. The Money Is Good
As a first-year business lawyer, you could potentially earn about $100,000 a year. Work at a big firm, and you will probably make more money. Some law firms are more cognizant now about work-life balance and have less of a demand on your time. However, if you thrive in stressful situations and under deadlines, you will likely find many employers who want you.
Of course, a career in law, much less business law, is not for everyone. The good news is that many people can, and do, succeed in the field. They are introverts, extroverts, part-timers, full-timers, jaded, and bright-eyed.