Essential practice areas of a 21st-century business-compliant lawyer

business lawyer

A 21st-century lawyer looking to be relevant in today’s world driven by commerce has to be specialized in various commercial practice areas. Studies have shown that the best lawyers from most parts of the world are those that specialize in relevant commercial areas. A modern lawyer would usually specialize in many areas to enhance their relevancy and boost their ratings among legal circles. Studies have also shown that lawyers who specialize in numerous practice areas can get referrals and recommendations from their less-specialized peers and colleagues.

21st-century business-compliant lawyers and their practice areas

A modern-day lawyer has to be specialized in a range of practice areas to be relevant. This will enable them to take as many clients as they want. Many modern-day lawyers are usually specialized in civil areas as well as commercial areas. A modern-day lawyer can be skilled and relevant in practice areas like divorce, healthcare, wrongful death, unfair dismissal at work, business law, real estate law, intellectual property, bankruptcy, probate, employment law, foreclosure, cryptocurrency and so on. There are no limits to the area of specialization of modern-day commercial lawyers.

Some important practice areas of modern-day lawyers

Lawyers and business law

Entrepreneurs and businesses need lawyers to help safeguard their businesses and comply with the law of specific areas. This area of specialization covers lawyers who specialize in the issues that affect businesses. This usually includes the act of creating a new business entity. Business law is a broad legal area that covers all aspects of a 21st-century business and everything that involves a business lawyer. This includes anything from the drafting of contracts, risk management, corporate legal assistance, crisis management, and so on.

Some relevant practice areas of business lawyers

There are many famous business lawyers like Joshua Cossey, Eric Holder, Megyn Kelly, and many more. These lawyers help businesses succeed by providing continuous legal assistance. Modern business lawyers specialize in such areas like:

Business transactions: Business lawyers help people, companies, partnerships, and organizations manage their affairs. A business transaction lawyer is present with a business throughout the existence of the business. From its formation, period of challenge, expansion, mergers and acquisitions, risk and compliance, corporate governance, and succession planning.

Cryptocurrency law: Business lawyers are repositioning themselves for more relevance in the commercial world by providing legal services related to cryptocurrency and blockchain technology. They will provide services to help people, investors, organizations, etc., looking to get into the cryptocurrency industry invest safely and wisely. They provide a wide range of laws that covers the entire cryptocurrency world. They usually help people and organizations navigate the new and uncharted business world of cryptocurrencies, blockchain technology, smart contracts, Defi, NFTs, cryptocurrency exchanges, and so on.

Litigation cases: Business lawyers usually help organizations defend their interests in the case of litigation. For instance, people or other companies might want to sue a business wrongly for unfair treatment. A business lawyer skilled in the area of litigation usually helps such businesses defend their interests. In such cases, a wide area of specialization and a wide business network usually helps such a lawyer navigate through the legal bureaucracies of civil litigation.

Written by Enaa Mari

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