Building a Successful Practice
This course provides nuts and bolts information and advice for those students who wish to start their own law practices, whether immediately after graduation or some other time. Indeed, the traditional barriers to entry to starting a law practice have flattened dramatically as technology permits solos to keep up with more established law firms. In addition, Virtual Law Offices are becoming a viable option for traditional brick and mortar practices. The course covers such topics as: budgeting, trust accounting, legal ethics, selecting liability insurance, how to market your practice and attract clients, how to choose an area of practice, the use of engagement letters, co-counsel arrangements, the use of technology and the Virtual Law Office, and how to write an effective business plan for your practice.
This practical course deals with the business planning and corporate formation concerns for students who wish to open their own law practice. As a take home final exam, students are required to draft their own 15-page business plan for starting their own law practice.
Recommended for the Following Professional Pathways: General Practice – Litigation/Dispute Resolution; General Practice – Transactional