The legal industry is on the verge of a profound transition, driven by technological advancements, global regulations shifting, and ever-evolving client expectations. Still, the demand for individuals navigating through these changes is at an all-time high.
Considering these factors, choosing a career in law can be challenging as the future of law is no longer confined to traditional methodologies. It now converges with cutting-edge legal tech, including artificial Intelligence, data security, cybersecurity and environmental sustainability.
Without effective knowledge of the legal industries and law firms, you might land on the wrong career path. Before choosing a field in law, you must understand the nitty-gritty of the underlying facts and details of each career option.
This blog will guide you through the top legal professions and important trends in the legal sector to help you secure your career.
Also read: What You Wish You Had Known at the Start of Your Career
Introduction: Trends in Legal Profession!
Stepping into 2025, the legal industry continues to evolve with the automation of services and artificial Intelligence. The law firms operating in the system aim to sustain and be competitive with the integration of AI tools and tech. With this, the demand for individuals proficient in AI has surged considerably.
In fact, according to a 2024 survey by Rebort Half Inc., 50% of the Lawyers and Law Managers are looking to expand their teams in legal services in the 2nd half of 2024. However, only those with the appropriate knowledge and expertise with emerging legal tech and regulatory compliances are well-positioned to grab these opportunities.
Source: https://blog.ongig.com/job-titles/legal-job-titles/
Also read: Alternative Legal Careers for Lawyers: 20 Realistic Ideas
“Generative AI will not replace lawyers. In fact, it needs humans to stay involved, especially when used for legal work.”
~ Sterling Miller, CEO, Hilgers Graben PLLC
Ten Things: ChatGPT and Generative AI
Think of this quote for a while. If you think about it, AI definitely needs human interference to keep performing well over time. Without proper prompts and due diligence, AI can never be as useful as it is positioned.
So, what can you do to stay ahead and stand up to the expectations of the legal industry as legal professionals in the era of generative AI?
Here you will find the skills that you as a legal professional must be equipped with.
- Technological Adaptability: As evident from the above discussions, you must be flexible and adaptive to new technology and AI-driven processes in the legal industry to stand out from the crowd.
- Embracing Change: Having an open mind and embracing the change is a plus. The legal regulations are shifting globally and there is a need to embrace and stand up to those changes.
- Collaborative Skills: Collaborative skills refer to the skill of working across various domains. So, if you wish to stay ahead you need to know about other domains coupled with your domain of expertise.
- Emotional Intelligence: With strong interpersonal skills the legal profession also demands emotional skills which refer to understanding and responding to the client's emotions. Having good emotional intelligence and knowing how to use it would be an added benefit to your legal career.
“Emotional intelligence has the highest correlative predictive of great success. With coaching, I aim to build the four facets of EQ—self awareness, self regulation, relational awareness, and relational management. If you get good at those things, you're way ahead of your peers. If you get great at them, you're elite. And to me, that's what you're investing in.”
~ Seth Weissman, Executive Coach and Ex-CLO, Marqeta Inc.
Leading Legal Teams in High Growth-High Pressure Environments with Seth Weissman, Executive Coach
- Documentation Skills: Generative AI has its pros and cons, AI-generated contents lack authorship and there are chances of copyright in the content. Therefore, legal organizations seek individuals who can navigate these complex areas involving compliance, intellectual property rights and AI values and ethics.
So, if you are a student of law or aspiring to pursue a career in law, developing these qualities would surely be an added advantage.
Top 5 Legal Careers of the Future: Legal Professions to Choose From
Now that you’re familiar with the emerging trends, it is imperative that you also understand which legal careers will be in growing demand in the coming years. As the legal sector continues to evolve, the demand for forward-thinking professionals is on the spike. To help you stay updated, here are the top 5 legal careers to watch out for.
Also read: Mapping Your Career in Law
Commercial Law
Wondering what’s Commercial Law?
Commercial law is that area of legal study which deals with conflicts relating to the sale and purchase of goods and services. It is often referred to by different names, viz-a-viz, business law, trade law, or mercantile law.
In commercial law, professionals often specialise in niche areas including intellectual property rights, consumer protection, taxation, Commercial contracts etc. Commercial law often calls for intense research and precision; if you are willing to pursue a career in commercial law, you must be precise in your approach.
Here are some Key specialisations to look forward to as a commercial lawyer:
- Business
- Banking or Finance
- Consumer Protection
- Commercial Contract
- Intellectual Property Rights
Unlocking the Path to Commercial Law
Curious about how to get started as a Commercial Law Professional? Here’s all you need to know.
Education:
The most common path individuals follow is the traditional route that involves completing law school and taking the bar exam. This is a rigorous process and stresses acquiring a Juris Doctor (JD) Degree from a registered or accredited law school in the state, followed by passing the Bar Examination in the state where you are willing to practice.
However, not all careers related to Commercial Law require the same old educational path; some roles involve a distinct educational path with different requirements. Some examples include -
- Paralegal Assistant :
Paralegal Assistants assist lawyers in legal research, documentation, and case management.
To start a career as a Paralegal, you don’t require a law degree, all you need is an Associate degree or Bachelor’s degree, followed by a successful enrollment in a Paralegal Program.
Typically, these programs include specialised legal training involving topics like legal terminology, research methodologies, and documentation. To complete the program you need to appear for a certification exam to become a certified Paralegal.
- E-Discovery Expert:
The career of an E-Discovery Specialist or expert has taken a significant leap in recent years due to the growing importance of digital data, privacy, and corporate compliance.
The role of an E-Discovery Expert involves, gathering, reviewing, and managing digital data that may be useful in legal proceedings or case management.
As an E-Discovery Specialist, you are responsible for navigating volumes of digital data and understanding how digital data storage works.
To start a career as an E-Discovery Specialist, all you need is a Bachelor’s degree in Information Technology or Computer Science coupled with a Certified E-Discovery Specialist (CEDS) Certification.
What Commercial Lawyers Do in Law Firms?
Now, let’s delve into the responsibilities that Commercial legal professionals perform.
- Contract Disputes: Providing a Contract Dispute resolution is one of the roles a Commercial lawyer performs. A contract dispute arises when one party breaches a contract or doesn’t hold up their end of the contract.
- Solving Intellectual Property Disputes: Another responsibility you might come across as a Commercial Lawyer, is solving intellectual Property conflicts. An Intellectual Property conflict is a pure case of copyright infringement, whereby someone uses copyright content without the owner's permission.
- Employment Law Regulations: Working as a Commercial Lawyer, you are expected to deal with conflicts where the employer unlawfully terminates or discriminates against employees.
- Banking and Finance Disputes: Cases of banking and finance disputes typically involve cases of banking fraud or predatory lending practices.
- Merger and Acquisitions: Under Mergers and Acquisitions, you would be expected to do due diligence on the terms of property transfers and ensure regulatory compliance on behalf of both parties.
In addition to the above, you might also deal with Product Liability conflicts and pricing regulations.
Contract Management
Contracts refer to the legal documents that outline specific terms and conditions agreed upon by two or more companies while engaging in business transactions. These terms outline the rights, responsibilities and obligations of each party adhering to the contract.
Given the complexities of a contract, contract management offers enormous opportunities to start a legal career, cutting across businesses and economies. It means managing a series of activities involved in the contract execution process, starting from creation, execution, monitoring and analysing to maximizing the operational and financial efficiency gains of an organization all while mitigating the financial risks.
Also read: Basics of Contract Management
How to Become a Contract Manager?
Now, if you are thinking about how to begin your legal profession as a Contract Manager; Here’s how.
Earning a degree in contract management can be the most direct and easiest way to get into the field. However, not all institutions offer a dedicated degree in Contract management. You can also opt for other professional degrees such as Business Administration which provides a strong foundation to excel in the field.
Once you have built a strong foundation with legal education, it is time to gain hands-on experience in contract management with internships, entry-level jobs, etc. The next step in the process is to get certification through the National Contract Management Association (NCMA), which will provide a boost to your career as a contract manager.
A law degree is equally valuable for aspiring contract managers, as it equips you with the legal knowledge required to understand and manage contracts.
Roles and Responsibilities of Contract Managers in a Law Firm
Source:https://www.contractsafe.com/blog/role-of-a-contract-manager
In the contract management process, the contract manager is that essential thread that keeps everything intact. As a contract manager, you need to be steadfast in your approach and act as the key contact person for the seamless execution of the contract. Here are some of the routine responsibilities that you might come across as a Contract manager.
- Drafting, reviewing, and executing contracts across various verticals of the organization.
- Reviewing and redrafting existing contracts in cases of conflicts between the parties.
- Overseeing the execution of the contract and ensuring that all the activities are performed to comply with the terms of the contract.
- Preparing reports on the contract performance
- Updating and revising contracts as per the National Legal Regulations
- Keeping clear communication with the Internal and External stakeholders on contract performance
- Managing the renewal process of contracts.
Merger and Acquisition Consultant
Another interesting Future Legal Career is to work as a Merger and Acquisition Consultant. Most Fortune companies owe their success to the benefits derived from Mergers and Acquisitions. Merger and Acquisition refers to buying or combining companies for cost savings, expansions, and improved financial health. However, the M&A industry is cluttered with corporate combinations that fail to achieve their goals due to poor strategies.
Source:https://dealroom.net/faq/mergers-and-acquisitions-m-a-meaning
But, as an M&A professional, you can help resolve the pitfalls and ensure a successful merger of the companies. Companies hire M&A professionals as they are well-equipped and positioned to tackle the conflicts arising in mergers or acquisitions. They are considered to understand the fundamentals of the process and provide expert guidance.
Requisites of Merger and Acquisition Consultant
Starting a career as a Merger and Acquisition consultant requires hands-on proficiency in accounting, finance, law, strategy making, and business planning coupled with an advanced degree in Master of Business Administration or Law from an accredited law school.
Additionally, if you are familiar with organization valuations and can understand the language of accounting, you are well-equipped to start your career as an M&A specialist.
Roles of Merger and Acquisition Professionals
The Role of Merger and Acquisition Professionals involves the following:
- Developing strategies to ensure the efficiency of the M&A process.
- Implement processes to ensure valuations are reliable and accurate.
- Ensuring compliance with Government norms and regulations.
- Managing and arranging funds to ensure the completion of mergers or acquisitions.
- Guiding in documentation and paperwork required during merger or acquisition.
Real Estate Attorney
If you have Knowledge of real estate transactions and processes, a career as a Real Estate Attorney can be interesting. Real Estate Attorneys deal with property transactions, primarily, buying and selling of real estate property.
As a Real Estate Lawyer, you must have a strong hold on processes involving the purchase or sale of property and other related activities. You would be expected to help review documents relating to home or land purchases and guide clients through the entire buying or selling procedures.
What Does a Real Estate Attorney Do?
The roles and responsibilities of a Real Estate Attorney may vary from transaction to transaction. However, to help you understand better, here is an overview of the key responsibilities of Real Estate Attorneys in a law firm.
- The key role of a Real estate attorney involves drafting and reviewing documents relating to purchase, mortgage, title and transfer.
- As a real estate attorney, you are expected to attend the closing of the deal with the buyer or seller. It involves money and title transfer.
- During purchase deals, you have to write the title insurance policies, complete the title searches and handle the final transfer of funds.
- Real Estate Attorney solves disputes relating to chain of titles, lot line, and other issues involving the deal contract.
- In case a dispute unfolds in a courtroom, a real estate attorney may also represent the buyer or the seller.
Compliance Managers
Compliance is another legal area to initiate your career with, it is a growing sector and offers competitive jobs. As a compliance manager, you are expected to value rules, regulations, accuracy and transparency. You would be guiding organizations in abiding by industrial laws and regulations.
Compliance managers are often referred to as the storehouse of information as they have strong recollection skills. They read and retain large amounts of information, laws, and regulations and recall key laws when the situation demands.
Requisites to become a Compliance Manager
The best way to become a compliance manager is to acquire a Bachelor’s degree in Human Resource Management. Once you have acquired the degree, you can work as an intern in industries like law, accounting, economics, or finance.
Roles of Compliance Manager
Now, the following are the roles you would be expected to perform as a Compliance Manager:
- Analyse the internal structure of the businesses to ensure compliance with the current regulations and ethical standards.
- Draft, review, modify and execute the internal policies of the company.
- Develop and implement risk mitigation strategies.
- Design and implement control systems to mitigate cases of violation of company policies.
- Design training programs for company employees.
- Provide legal services to the top management on matters relating to investment or risk.
Source:https://www.sprintzeal.com/blog/compliance-manager-interview-questions
Explore Expert Career Tips with Spotdraft
If you need tips to begin your career in the legal field, you can always refer to Counsel Corner, which would be an invaluable resource. Here you’ll find a series of blogs, webinars, and articles featuring insights from top industrial experts.
These blogs will provide you with step-by-step guidance on how to build a career in the legal field. With the Counsel Corner, you would understand the intricacies of all types of careers in the legal field.
Whether you’re an aspiring law student or an attorney, Counsel Corner is your go-to spot for gaining all the skills and knowledge you would require to start or boost your legal career.
Also read: Understanding Legal Titles
