What's Happening?
Lawyers are increasingly finding success as entrepreneurs by leveraging their JD skill set, which includes analytical thinking, risk assessment, and superb presentation skills. The EXJ Community, founded by Neil Handwerker and Kimberly Fine, is a peer-to-peer
network for non-practicing lawyers, highlighting the potential for lawyers to transition into nonlegal careers. The community showcases successful lawyer entrepreneurs like Mark Ferguson, who co-founded Brant & Cochran, an axe manufacturing company, and Nicole Clarke, CEO of Trellis Research. These individuals credit their legal training for their ability to navigate the complexities of starting and running a business.
Why It's Important?
The trend of lawyers moving into entrepreneurship is significant as it challenges the traditional view of a JD degree being limited to legal practice. This shift could lead to a broader understanding of the value of legal training in various industries, potentially increasing the demand for lawyers in nonlegal roles. The success of lawyer entrepreneurs demonstrates the versatility of legal skills in business, encouraging more lawyers to consider alternative career paths. This could impact the legal industry by reducing the stigma associated with leaving law practice and fostering innovation through diverse career trajectories.
What's Next?
As more lawyers explore entrepreneurship, the EXJ Community is likely to grow, providing support and resources for those transitioning from legal practice. This could lead to the development of more platforms and networks aimed at helping lawyers leverage their skills in nonlegal sectors. Additionally, the success stories of lawyer entrepreneurs may inspire law schools to incorporate business and entrepreneurship training into their curricula, preparing graduates for a wider range of career opportunities.
Beyond the Headlines
The movement of lawyers into entrepreneurship raises ethical and cultural questions about the role of legal education in society. It challenges the notion that a law degree is solely for practicing law, suggesting a broader application of legal skills. This shift could lead to changes in how legal education is perceived and valued, potentially influencing the future of law school curricula and the career paths of law graduates.
