Finding the ideal legal specialty requires more than passion or interest – your budget must also play a part.
Lawyers practicing in areas that carry higher liability risks such as medical malpractice or intellectual property litigation earn higher salaries than their counterparts who don’t, with geographical location also playing a pivotal role in salary levels.
Medical Lawyers
Medical law careers offer some of the highest paying lawyer jobs. Medical law attorneys advise clients on issues regarding health care, personal injury and medical malpractice laws while representing hospitals and healthcare corporations in malpractice lawsuits.
Hourly rates for medical malpractice lawyers will depend on the case in which they’re engaged; those with extensive experience and proven results often command higher fees than their less skilled peers.
Begin your search for a malpractice attorney by consulting friends and colleagues in your local area for recommendations. Also ask how long the firm has been operating and what cases they specialize in handling.
Before hiring the firm, ask about their track record in successfully settling and winning malpractice cases similar to your own. A firm with ample experience with your type of case will likely help secure compensation on your behalf.
Intellectual Property Lawyers
Intellectual property law is an expansive field. It encompasses everything from drug formulae that help mitigate leukemia symptoms to designs of energy efficient batteries for electric cars; writings by authors and musicians as well as artwork or company slogans fall under this domain.
Firms specializing in patent litigation, trademark infringement disputes and trade secret disputes offer excellent career paths. Duane Morris provides an understanding team who work towards helping its clients maximize the value of their intellectual property assets; its attorneys boast vast trial litigation experience before the U.S. Patent and Trademark Office including inter partes review (IPR) under America Invents Act 2012.
IP Group of McDonough excels in patent litigation for pharmaceutical and life sciences companies. Furthermore, their IP group excels at representing clients in post-grant proceedings such as IPR and PTAB proceedings; representing several major pharmaceutical companies in multiple consolidated Hatch-Waxman patent infringement suits brought against Janssen Pharmaceutical’s lucrative multiple sclerosis drug Invega Trinza is among their many accomplishments.
Corporate Lawyers
Corporate lawyers provide legal services for businesses, from providing advice on their rights and responsibilities to helping draft contracts or meet complex regulatory compliance standards.
Corporate attorneys possess both business acumen and courtroom expertise, with an ability to navigate complex courtroom cases and successfully resolve conflicts through negotiation or arbitration. Furthermore, corporate lawyers understand their clients’ businesses in great depth to offer tailored solutions that align with their specific needs and objectives.
Tax and intellectual property lawyers typically earn higher salaries, as these fields tend to require greater levels of knowledge and skill that makes them more valuable to clients than general practitioners. Furthermore, their earning potential increases exponentially with experience and success in practice.
Complex Litigation Lawyers
Litigators who specialize in complex litigation run an increased risk of liability and must be adept in order to handle their cases successfully, which explains why their income tends to be greater.
Undoubtedly, lawyers at larger law firms tend to earn higher pay. This is due to having access to resources and quality assurance that smaller firms do not. Furthermore, having more clients with more lucrative legal needs boosts revenue streams even further.
Geographic location can have a dramatic effect on how much an attorney earns, with attorneys practicing in urban centers like New York or Seattle typically earning more than those working out of rural or small-city locations.
If you are facing complex litigation, The Cochran Firm is ready to help. Reach out now for a complimentary case consultation – our compassionate attorneys stand ready to provide assistance, using their experience, resources and past results against large corporations in complex matters.