Understanding the business of law is critical

Good article recently from JDSupra discussing the knowledge new lawyers need regarding the business of law.

We certainly agree with Ms. Ames that knowing the business of law is important for new lawyers, but we would go further – in fact, it’s critical for all lawyers.  Too many associates, be they at BigLaw or in smaller settings, are content to simply bill their hours and that’s it.

The problem, for them, at least, is that without a book of business of one’s own, an attorney is expendable.  Yes, that’s not something most attorneys want to think about, that, in the end, they are virtually interchangeable, but from a practical business standpoint, it’s true.

Building business – rainmaking, may not be what you went to law school to do, but in the real world of most law firms, with complex questions of law being few and far between and a glut of attorneys who are generally all capable of handling the grunt work, it’s the only way to ensure long-term success.

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