Additional Skills are Crucial for Lawyers in a Changing Market
December 01, 2014
Technology, evolving markets, changing client demands and a financial crisis have forced the notoriously conservative private legal services sector to embrace new services, form fresh partnerships and become more entrepreneurial to remain relevant and viable. Peter Crisp, dean and chief executive of BPP Law School in the United Kingdom, summarized the changes that affect legal markets that include the United States when he stated: “When it comes to studying for professional qualifications , I don’t think you can overestimate the importance of commercial awareness. It is not enough simply to learn the law. Law firms are businesses and need to be run successfully. You can be brilliant at the law, but if you are a rotten businessperson, you will fail. That involves learning about finance, but is also about developing a commercial mindset, which includes being able to innovate.” Firms seek lawyers who are innovators and business savvy in order to best respond to client’s needs. The Financial Times explains additional skills that law students should develop to enhance their chances for success in a changing landscape.