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What are the best practice areas for solo attorneys?

So, you’ve decided to take your practice solo, congratulations! You’re taking the steps to tackle your legal career goals on your terms, and that’s something to be excited about. Before you get too ahead of yourself, have you considered what are the best practice areas for solo attorneys?

Whether you’re moving away from a law firm or starting out solo, there are several business decisions you must consider if you want to be successful. If you haven’t done so already, you’ll want to get a good grasp on the practice areas you will focus on. This will determine your services, marketing, and entire business model.

Motivation and values

A good starting point when deciding what areas your solo practice will specialize in is finding your ‘why.’ In fact, all attorneys (solo or firm-based) should understand their ‘why’ for going into the legal industry.

This is your main motivation for wanting to practice solo law and will be your driver towards a fulfilling career. Some attorneys look to practice solo because they have more control over their billable hours and greater earning potential. Other attorneys are passionate about a specific practice area and feel they can make a bigger impact on their own. Neither option is better than the other, but it’s important to understand your motivations and values behind your practice. You’ll find more fulfillment and come across more genuine.

Practice areas

Bankruptcy law

This area of law is perfect for solo attorneys who are good with numbers and financial literacy. Many of your clients will owe money to another entity and have declared bankruptcy. For this reason, you’ll need to be comfortable evaluating financial documents to best represent your client. Additionally, if you don’t love going to court, bankruptcy law is for you. Most cases are settled outside of the courtroom. 

Civil litigation law

Litigation attorneys or trial lawyers are people who are quickly adaptable and enjoy a busy environment. Civil litigation typically involves disputes between parties seeking monetary damages or judgement based on non-criminal accusations. Since civil litigation law is broad, It’s best for solo attorneys to specialize in specific areas, like family law or medical malpractice.

This area of law is best suited for solo attorneys who can handle being pulled in many directions while also maintaining organization. Civil litigation often involves working very closely with clients, being in court, and out-witting your opposing counsel.

Employment law

Employment attorneys spend most of their time assisting the employer-employee relationship. This involves reviewing employment contracts, discrimination suits, termination, lay-offs, settlements and more.

Employment law is a great area of practice for solo attorneys who enjoy advocating for the rights of their clients. To best represent your clients, you’ll need to stay up to date on employment and labor legislation and be ready to have difficult conversations. The employee-employer relationship can be sensitive and guiding a client through legal proceedings while also maintaining a sense of empathy can be difficult to manage.

Family law

Cases within family law are almost always sensitive, especially when child or separation of a household is at stake. Adding in these factors on top of upholding the law can create a stressful work environment for solo attorneys. On the other hand, family law can also be very rewarding when you are able to better your client’s lives.

Similar to employment law, solo attorneys practicing family law must be able maintain a level of empathy while also helping their clients make difficult legal decisions.

Real Estate law

Real estate attorneys assist their clients with legal property matters. This could include assisting a lender with the sale of property, drawing up contracts, titles, and litigation of tenant-landlord relationships.  This area of law is great for solo attorneys who have a knack for attention to detail. Depending on the client, real estate contracts can be long and must include specific language to protect the clients assets surrounding the property.

Solo attorneys who prefer transactional work are a great fit for real estate law. Once a contract is in place, the client will likely only contact you or need your services when there is a breach or conflict that arises.

Choose what’s best for you

At the end of the day, the practice area for solo attorneys comes down to what you want. Figuring out what you’re passionate about or what motivates you is a great first step in finding the best practice area. Next, evaluate your skill set and how you can separate yourself from the pool of solo attorneys.

Article by;

Kamron Sanders
PracticePanther

Insolvency and Bankruptcy Laws – Extension of timelines

In view of the pandemic COVID-19 and the changing business environment due to COVID-19, the Insolvency and Bankruptcy Board of India (“IBBI”) has issued certain notifications to address various concerns of stakeholders in connection to Insolvency and Bankruptcy Code, 2016 (“Code”) and other regulations framed therewith.
The gist of some of the latest notifications issued by the IBBI are set out below:
1. The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (“CIRP Regulations”), provides that the corporate insolvency resolution process is a time bound process and it is required to be concluded by the insolvency professional in a prescribed period of 330 days including litigation period. The IBBI has amended the CIRP Regulations by inserting a new special provision which states that the period of lockdown imposed by the Central Government due to outbreak of pandemic COVID-19 will not be counted for the purposes of the time-line for any activity that could not be completed due to such lockdown in relation to a corporate insolvency resolution process.
2. The Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (“Liquidation Regulations”), the liquidation process is mandatorily required to be completed by the liquidator in a prescribed period of 365 days. Due to spread of COVID-19 and declaration of lockdown by the Central Government, the IBBI has amended the Liquidation Regulations by inserting new regulation which states that the period of lockdown imposed by the Central Government due to outbreak of pandemic COVID-19 will not be counted for the purposes of the time-line for any task that could not be completed due to such lockdown in relation to any liquidation process.
3. In addition to above, IBBI has also issued notification amending the Model Bye-Laws and Governing Board of Insolvency Professional Agencies (Amendment) Regulations, 2020 whereby it has given certain relaxations on time lines and its rules for authorisation of assignment by Insolvency Professional Agencies to their professional members.
The above relaxations in timelines are evidence that the regulators are mindful of the difficulties and delay in compliances owing to COVID-19. The Government of India and the regulators are constantly making efforts to ensure that corporates and professionals have fair liberties to comply with the timelines and regulations.
Disclaimer
This news flash has been written for the general interest of our clients and professional colleagues and is subject to change. This news flash is not to be construed as any form of solicitation. It is not intended to be exhaustive or a substitute for legal advice. We cannot assume legal liability for any errors or omissions. Specific advice must be sought before taking any action pursuant to this news flash.

 

For further clarification and details on the above, you may write to Mr. Vaishakh Kapadia (Partner) at vkapadia@almtlegal.com, Mr. Ankit Parekh (Senior Associate) at aparekh@almtlegal.com and Mr. Vinit Shah (Associate) at vshah@almtlegal.com.