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Originally Posted by xdeuceswild81xx
I'm pretty sure this has been discussed before, but might as well bump. I've been tossing around the idea of trying to hang a shingle post graduation and I've seen lots of differing opinions about it. Did anyone take this route/know someone who did?
I'll have zero debt post grad (poker's been good) and a mentor/friend who would be willing to rent me some space pretty cheap. I'm still only a 2L, so still have some time, but I was thinking if I decided on this route, I could spend 3L building the firm on the paperwork side instead of worthless classes. Still, it seems like a huge risk.
I'm in the process of taking this route as we speak. I graduated in 2013, did a school-funded fellowship and had trouble finding a job after that so I opened my practice in January of this year.
I've got a few things in my favor, including a significant other who handles the majority of our living expenses and a part time evening job that pays well.
To be honest, the "paperwork" of starting a firm is fairly minimal. You basically need to register your business entity, get malpractice insurance, office space, bank accounts, and any marketing materials. You can get set up in a few weeks if you hustle, and so there's no reason to spend your 3L working on that.
Decide on a practice area(s) and volunteer to work a few days/week for a local solo/small firm that works in that area. Learn how to file things, how to draft every kind of motion, where things are in the courthouses, and local customs. Develop a network of local lawyers that you can call or email when you have questions, and who can send you business when you start out. Get active with local bar associations (most of them have free memberships for law students).
I, personally, hate networking. But I have to admit that it's very useful and I wish I had done more of it while I was in school.
I'm happy to talk more with you if you want. Feel free to PM me anytime.