You’ve got your J.D. degree and cleared the hurdle known as the state bar exam. You are ready to practice, but didn’t find just the right position with a downtown firm or government office. Not to worry, with your law degree and some good old fashioned moxie you will be in practice and on your way to a good income in a relatively short time, with attorneys professional liability insurance in place, an office space, and a growing network of connections to feed your need for clients.
1. Get a space – Can’t afford a premier downtown location? No problem, with office sharing options, you can work with a larger established firm and even benefit from overflow work and cases that can come your way from your office partners.
2. Get compliant – In most jurisdictions, attorneys professional liability insurance is mandatory, or strongly recommended, and a bank trust account for client funds that meets bar organization standards, are two of the most notable requirements for any law practice. When it comes to stability for your law practice, one of the greatest risk factors is threat of malpractice claims, particularly if your practice is in one of theses areas:
– Patent law
– Real estate law
– Financial practices law, such as SEC compliance
3. Get known – Build your network of connections at every opportunity. Attend legal events and talk to peers in the field for referrals of cases. Volunteer for community legal programs to help others with legal matters while you build your reputation and skills as a legal problem solver. Use social networking to your advantage, and get involved in areas related to your specialty, such as real estate organizations if you practice land use law, for instance.