- On September 13, 2020
I’ve been recruiting in-house lawyers for over 10 years. The most requested practice area, then and now, is commercial, i.e., negotiating and drafting agreements. Companies always need deals to be closed, both inbound (licensing) and outbound (sales), so it’s easy to justify hiring commercial lawyers, in contrast to other legal needs that ebb and flow.
On top of commercial, I’ve seen the growth of related areas like product counsel and privacy counsel, something maybe commercial counsel could have handled themselves years ago. Not anymore given the increase in products and legislation.
Below is a list of hot industries needing legal support. These industries either didn’t exist a decade or so ago or were in their nascency:
– virtual reality
– internet of things
– artificial intelligence/data analytics
– electric cars
– media (social media, adtech, streaming)
– video conferencing
Pro tip: develop expertise not just in your area but adjacencies that are heating up. Pay attention to new developments in technology and law to see where the market is going. That way you are not caught flat-footed if the economy shifts or a global catastrophe erupts.