The Laws Of Entrepreneurship

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How Entrepreneurship Is Reshaping The Legal Industry

Nevertheless, the news in law is not all bad. While there were 31 venture capital deals i n the last year, the market is far from saturated, with plenty of room for new players to enter the space. As entrepreneurs continue to set their sights on the law, it will be interesting to see the rate in which the legal industry will adapt and embrace change.

The legal industry got hit hard during the economic downturn, making it a less attractive path for would-be lawyers. As indicated by the recent round of layoffs at mega-firm Weil Gotshal, law is yet to recover with some experts saying it will be years before the industry recovers to pre-economic downturn levels.


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The market is flooded with an oversupply of lawyers, consumers of all sizes are seeking more affordable access to legal services, and technology--practically the standard in other businesses--is yet to become widely adopted in the practice of law. Taken together, this is an exciting moment for legal innovators. Here are a few trends we can expect to continue as enterprising entrepreneurs continue to make their mark in law.

Meanwhile, for those headed to law school this fall, seek out a course in entrepreneurship. It may turn out to be the most valuable class of your law school career. I help business leaders shape ideas and build influence in the media.

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Share to facebook Share to twitter Share to linkedin Business Week wrote an article last week about the drastic decline in law school enrollments, noting that applications are down nearly everywhere with the exception of Harvard Law. While there were 31 venture capital deals i n the last year, the market is far from saturated, with plenty of room for new players to enter the space.

As entrepreneurs continue to set their sights on the law, it will be interesting to see the rate in which the legal industry will adapt and embrace change. The legal industry got hit hard during the economic downturn, making it a less attractive path for would-be lawyers.

For faculty at educational institutions

As indicated by the recent round of layoffs at mega-firm Weil Gotshal, law is yet to recover with some experts saying it will be years before the industry recovers to pre-economic downturn levels. The market is flooded with an oversupply of lawyers, consumers of all sizes are seeking more affordable access to legal services, and technology--practically the standard in other businesses--is yet to become widely adopted in the practice of law.

Taken together, this is an exciting moment for legal innovators. Here are a few trends we can expect to continue as enterprising entrepreneurs continue to make their mark in law.


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  • Meanwhile, for those headed to law school this fall, seek out a course in entrepreneurship. It may turn out to be the most valuable class of your law school career.

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    Law and Information » entrepreneurship

    I help business leaders shape ideas and build influence in the media. Share to facebook Share to twitter Share to linkedin Business Week wrote an article last week about the drastic decline in law school enrollments, noting that applications are down nearly everywhere with the exception of Harvard Law.

    That said, using these sites result in a wide range of mixed consequences, some of which wind up being more costly down the line.