A lot of top-level executives in the US have law degrees. In fact, some lawyers could have better business acumen compared to economics and business majors.
MBAs running corporations tend to emphasize the upsides of the business while those with legal training often focus on challenges. This precautionary thinking is necessary in understanding, avoiding, and managing risks. This reflected in a recent study of about 7,000 companies and publicly traded firms. The results showed that companies run by lawyers experienced 16 to 74 percent less litigation cases.
The corporate world is all about active risk mitigation. A law graduate can offer his or her training in detecting possible problems. This skill saves the company thousands of dollars in legal counsel fees.
Granting legal advice to executives is the lawyer’s gateway to the business and in becoming an industry specialist. By developing skills in sales, marketing, or even product development, any law graduate can cover much ground and advisory in operations, finance, marketing, and ultimately, expansion.
Founder and Managing Partner of Tacopina & Seigel Joe Tacopina has received praise from peers and the media as a premier trial attorney. He graduated from the Quinnipiac University School of Law in 1991 and obtained his license in 1992. For more similar reads, visit this blog.
Joe Tacopina 