Are you in law school and wondering how you can make the most money in the law field? This obviously shouldn’t be the only deciding factor when it comes to deciding on a law practice but it is something many law students do think about.
The legal field offers many career opportunities but these are some of the best practice areas for solo attorneys
- MEDICAL ATTORNEYS
Medical lawyers are the highest-paid in the legal field and earn the highest median salary. What work they do depends on the organization they work for. For eg, some medical attorneys work in hospitals and health care facilities while other medical attorneys handle personal injury cases or medical malpractice cases.
- INTELLECTUAL PROPERTY ATTORNEYS
Intellectual property attorneys deal with intellectual rights like patents, trademarks, and copyright. There is huge earning potential in this field as it is a fast-growing sector. Intellectual property lawyers work in a fast-changing environment so they have to keep themselves abreast of the latest developments. They usually work for large private companies and in-house for tech and pharma companies.
- TAX LAWYERS
Tax lawyers can also be considered one of the best practice areas for solo attorneys. They represent firms when federal, state, or local tax agencies are involved. Their main duty is to protect a company’s assets and formulate tax-saving plans. Companies pay tax lawyers a hefty sum. U.S tax law is quite complex and lawyers should be aware of the latest changes that can impact their clients. They must also study the ever-changing tax laws through continuous research.
- CORPORATE LAWYERS
Corporate lawyers can work in diverse roles. They advise firms on business transactions, acquisitions, mergers, buying and selling the business, filing legal documents, and running the business. Preparing and reviewing contracts is one of the main jobs of corporate lawyers. Besides these duties, they help companies with sourcing venture capital and creating new corporations.
- TRIAL LAWYERS
Trial lawyers are another great option for those searching for best practice areas for solo attorneys. They need to have a good understanding of procedural law and industry laws and trends. Persuasive skills, quick and accurate thinking, and good oral skills are important to succeed in this field.
Mediators act as a link between two conflicting parties and help them to come up with a resolution that benefits both. The important thing to remember here is that they do not come up with an actual solution they only help both parties to understand the issues so that a solution can be found.
A judge presides over the legal proceedings in a courtroom and reviews if there are any legal issues with the evidence. Their powers vary depending on their jurisdiction. Besides conducting trials and ensuring the trials take place in a peaceful manner, they also decide the sentence and interpret the law.
- CHIEF LEGAL OFFICER
Chief legal officers use their legal expertise to help a firm lower legal risks. They inform company officers and board members of various issues like litigation risks.