Join us for a conversation on "Roadmap for learning contract drafting skills " with Abhyuday Agarwal, COO, and Co-Founder, LawSikho.
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𝗗𝗼 𝘆𝗼𝘂 𝘄𝗮𝗻𝘁 𝘁𝗼 𝗯𝗲𝗰𝗼𝗺𝗲 𝗮 𝗰𝗵𝗮𝗺𝗽𝗶𝗼𝗻 𝗶𝗻 𝗰𝗼𝗻𝘁𝗿𝗮𝗰𝘁 𝗱𝗿𝗮𝗳𝘁𝗶𝗻𝗴 𝗮𝗻𝗱 𝗻𝗲𝗴𝗼𝘁𝗶𝗮𝘁𝗶𝗼𝗻
𝗖𝗼𝗻𝘁𝗿𝗮𝗰𝘁 𝗱𝗿𝗮𝗳𝘁𝗶𝗻𝗴: 𝗮 𝗵𝗶𝗴𝗵𝗹𝘆 𝗿𝗲𝘄𝗮𝗿𝗱𝗶𝗻𝗴 𝘀𝗸𝗶𝗹𝗹
Contract drafting as well as contract negotiation is a highly rewarding and profitable part of any legal practice. Both individual lawyers and organized law firms tend to do make a significant portion of their revenue from contract drafting, and it is usually a highly reliable and profitable revenue stream. Compared to many other areas of work which are unpredictable in terms of investment of time as well as effort, contract drafting and negotiation is a more predictable process and margins are usually high. The best part is that even young lawyers can earn a good living from contract drafting.
Many young litigators who are working hard at making a name in the court as arguing counsel, makes comparatively very less money from the litigation side of their practice. However, contract drafting on the sidelines helps to pay the bills. Many lawyers with fledgling practices also hire juniors to do contract drafting if they are able to source enough drafting work to bolster the revenues of their practice.
Big law firms usually make a lot of money from their transactional practices such as M&A, Banking, Projects or Corporate Finance which involves a lot of contract drafting for those transactions and negotiation. Hence, having good contract drafting skills and negotiation ability is critical to doing well in big law firms, especially in the transactional practice areas which are usually more lucrative. Many big law firms pay less to litigation associates or IP law associates especially at the entry level as opposed to those handling transactions.
Read full article here: blog.ipleaders.in/want-become...
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