Attorneys, perhaps more than other professionals, have to keep their finger on the pulse of business developments. Once they have garnered a working knowledge of where the trends are in local, regional, national and international arenas, immediate assistance may be offered in matters where legal counsel is sure to be sought.
Along these lines, David J. Bilinsky’s blog recently featured an itemized list of “What’s Hot” in the legal world. (He based it on the “What’s Hot and What’s Not” by Bob Denney of Robert Denney Associates – June, 2011.) Among the “Red Hot” entries, we have: 1. Health Care; 2. Energy, and 3. Financial Services.
The practice areas listed are no surprise. Health care is booming, as are more and more fields offering alternative providers.
Developments in energy, too– as in greening the environment–continue to surface as nuclear and even coal is being studied, as are the traditional oil and gas resources. Finally, money matters will pervade the economy while new regulations are being untangled, and compliance struggles to catch up.
As for geographical locales, China, Dubai and Venezuela–where Caracas is home to several firms of late–are regions to keep an eye on, as per business watchers.. Ditto Brussels.
So what’s hot in business development, marketing and related issues? As you might have guessed, video trumps many other advertising fields as this form of online marketing continues to change the rules of the game. Contract lawyers, too, are making a big name for themselves. Both BigLaw and MidLaw are hiring a whole bunch.
Cloud computing, despite its setbacks, is grabbing hold of the IT consciousness, and more and more firms are moving their document management data from the office to SaaS (software-as-a-service) content providers.
In civil litigation, electronic discovery or e-discovery, is big. Why is it seen as head and shoulders about paper discovery? According to Wikipedia, we learn that:
Electronic information is considered different from paper information because of its intangible form, volume, transience and persistence. Electronic information is usually accompanied by metadata that is not found in paper documents and that can play an important part as evidence (for example the date and time a document was written could be useful in a copyright case. The preservation of metadata from electronic documents creates special challenges to prevent spoliation.
Overall, it’s heartening to know deal-making and its attendant accoutrements are making a come-back. This can only lead to increased legal staffing, and inroads on many legal fronts–all of which may be dubbed “very cool”, indeed!
Graphic of Caracas courtesy of the site…”dedicated to reuniting the missionaries who served in the Venezuela Mission, the Venezuela Caracas Mission or the Venezuela Caracas East Mission” – http://www.mission.net/venezuela/caracas/