The legal industry has seen a decline in career opportunities in some areas of law, just as there are declines in other industries. However, areas of law such as civil litigation, environmental (green) law, bankruptcy law, labor and employment law, foreclosure law, intellectual property law and e-discovery practice are experiencing a surge in career opportunities. We will examine intellectual property law, bankruptcy law and foreclosure law.
Intellectual Property Law
An intellectual property law attorney is responsible for keeping a company’s new developments protected from competitors who would steal them. New scientific and technological inventions are especially vulnerable to piracy. Individuals such as authors, artists, musicians and inventors of creative works are also protected under intellectual property law.
A trademark attorney is well-versed in national and international trademark law. The internet has given every business with a website the opportunity to have a global business. Now more than ever the trademark attorney is needed to protect new innovations of large and small businesses.
The present economy has created the demand for more bankruptcy attorneys and other legal professionals who are trained in this area of law. Bankruptcy is one of the fastest-growing legal areas not only in the United States but in the world today. The loss of jobs and the high rate of unemployment that keep consumers from replacing those jobs have left millions of people unable to pay their bills.
Chapter 7 filings have reached astronomical numbers. Even businesses are seeking bankruptcy attorneys who can help restructure their assets through Chapter 11. This trend is expected to continue for the next few years.
The American dream of achieving home ownership is under attack. Record numbers of foreclosures have hit the United States with a blow so hard that it is almost impossible to recover. There is a great backlog of foreclosures needing to be handled by the courts and foreclosure attorneys. Reports indicate that foreclosures are expected to increase from 1.8 million in 2010 to 2.1 million in 2011. The need for foreclosure law attorneys will grow in proportion to the number of foreclosures.
Based on the current job market, these three practice areas may be good options for law students to consider.