Many areas of law have seen their growth trajectory shift due to an increase in demand for legal services. These abrupt changes have sparked the growth of many new legal practice areas.
We know that pandemics have contributed to the emergence of these new areas of law. Nevertheless, there are many other factors, including social, technological, political and environmental ones, that also influence the growth of various legal practice areas. Learn more about the fastest-growing legal practice areas in 2024 and beyond.
What are the areas of law that are growing?
Cybersecurity, cannabis, elder law and IP are the main areas of law to grow.
The growth areas are not only for new lawyers interested in changing to one of these eight fields. These areas are also affecting more experienced lawyers, whose practice overlaps these new fields of practice. Employment lawyers, for example, need to be up-to-date on changes in labor laws and regulations. Health lawyers and insurance attorneys are no different.
Gleichzeitig, the practice is rapidly changing. The legal industry is set to be disrupted by new technologies such as ChatGPT. Lawyers are used to working remotely or in hybrid environments. Clio, a cloud-based software for legal practice management, makes it possible to automate and streamline routine tasks.
Technology-driven emerging areas of law
As technology continues to advance, so will the need for laws and regulations that protect people. The pace of technological advancements can sometimes be faster than the time required to develop proper regulatory standards. As this timeline and process develop, the demand for attorneys in this field will increase.
Außerdem
It should not be surprising that AI is transforming business and law. However, its full impact has yet to be fully realized. Authors and media companies like The New York Times are suing AI companies, such as OpenAI. Copyright infringement has become a major issue today.
Cybersecurity and Privacy
The laws governing privacy and security are complex, and they vary from state to state (e.g. CCPA laws). Lawyers working in this area need to audit and assess current policies. These lawyers also reduce privacy and cybersecurity risks in order to comply with state and federal laws.
The laws vary depending on the industry in which you do business. A privacy and cybersecurity attorney must understand how policies like GDPR (Europe), HIPAA, (US healthcare), FDIC, (banking), etc. can affect their client.
Smart technology and liability issues
In the home and workplace, smart technology is becoming more prevalent. These smart objects record images, voice recordings, and videos. Some lawyers may use the data that these objects store as evidence during litigation or mediation.
Existing technology, such as security cameras, can help lawyers present this type of evidence to a court. It’s also important to develop expertise and verify the data collected by new smart technologies.
Drones
As with other technologies on this list the laws surrounding drones, their operation, and their use change rapidly as they overlap with IP laws, safety laws, and privacy laws. Each state has its own drone laws. Some laws are universal, such as the requirement to register drones and that drones must always be in line of sight. Lawyers must be familiar with drone laws on both a federal and state-level, while also keeping abreast of any changes.
Intellectual property (IP)
Intellectual property cases are complex and difficult depending on the parties and medium involved. This complexity has been heightened by non-fungible tokens (NFTs).
NFTs is a unit of information based on the blockchain technology. It’s used to track and record transactions, and data ownership. When a copyright owner transfers their intellectual property to another party, they don’t usually benefit from its increased value. NFTs allow for specific programs that enable the original owner to continue to benefit from the intellectual property as it is resold.
There are currently no regulations governing NFTs. Lawyers need to be more familiar with how NFTs can be sold, purchased, or transferred, as they are in conflict with current IP laws.
Labor legislation
The labor law is a mediator between the rights and obligations of workers, unions and employers and government authorities. Labor laws are also governed by both the federal government and state governments. All state regulations must, however, comply with the federal National Labor Relations Act.
The unions themselves or corporations who hire unionized workers usually hire labor lawyers. Labor law and employment law are often confused, but the main difference is that in labor law there is always a union or unionized employees.
Labor law will continue to grow as “The Great Reshuffle”, which created job vacancies, creates a demand for higher wages, better working conditions and greater employee protection, continues.
Senior law
The Elder Law focuses on issues that affect older adults. This includes but is not limited to issues related to retirement, long term care planning, healthcare and guardianship as well as financial and estate planning.
Elder lawyers have a unique role in this area of law, as they are involved with the clients’ day-today affairs – such as their care for seniors – and handle important legal issues like drafting wills. This area of law is unique because it requires an exceptional level of patience and empathy to deal with the sensitive emotional and physical needs of elders.
As more adults retire, the need for lawyers in elder law will continue to grow.
Environmental law
Environmental law is concerned with the laws and regulations that govern sustainability, air quality, water quality, agriculture, hazardous wastes and biodiversity. This new area of law can be broad, requiring lawyers to serve as advisers, compliance consultants and policy analysts. They may also act as plaintiffs and litigants.
Climate change has brought to light the urgent need for action on sustainable development, environmental protection and sustainability. Environmental lawyers are needed to help combat global warming and reduce its effects.
Health law
Health law is a new area of law that deals with the provision and operation of health care. Health law lawyers advocate for better patient care and access to healthcare, reduce healthcare costs and protect consumers when they are looking for insurance or other types of coverage.
The demand for this emerging area of law is on the rise, thanks to the pandemic of 2020. It shows no sign of slowing as the impact of Long COVID becomes more apparent. This increased focus on health and hygiene will lead to more people seeking legal guidance and advice on how to obtain more affordable and accessible healthcare.
Cannabis law
Cannabis law is about navigating the changing policies surrounding marijuana legalization. This is a complex area of law that requires an understanding of the policy timelines. Although marijuana became legal in 18 US states in December 2020, and was decriminalized by the federal government in December 2020, federal law still considers it an illegal substance.
The federal legislation is likely to be reintroduced by 2024. This could lead to the legalization of marijuana across the nation, while also providing federal protections to financial institutions who provide services to cannabis businesses that are state-legal.
Cannabis law is an area of law which will continue to develop. More patients will have better access to medical marijuana as more businesses get licenses to sell it. Other federally regulated agencies will also provide more financial services to cannabis-related business, including loans and insurance.
Energy law
The energy law covers the taxation, regulation, and use of renewable and not-renewable energies. This new area of law can be complex. Energy lawyers are often in-house counsels for corporations, helping them to stay compliant with energy laws and regulations. Energy lawyers are often involved in formal hearings and litigation if there is a problem with compliance with agreements related to energy production, harvesting and use.
Federal energy laws are regulated by the Department of Energy, and they can change very quickly. This field requires the ability to quickly adapt and audit existing company policies. The Department of Energy also employs energy attorneys who can influence policy and international relations.
This emerging area of the law is directly affected by climate change policies. As innovations in alternative energies continue, the demand for energy attorneys will continue to rise.
Student Loan Law
If you are an attorney, it’s likely that you won’t be surprised to learn this area of law is growing. The student loan crisis is continuing to grow, and the demand for lawyers with relevant expertise has never before been so high.
What is a student loans lawyer? Attorneys who specialize in student loans possess advanced knowledge of these loans. They know the specifics of interest rates and how to help loan recipients transition into more affordable repayment schedules.
Trends in legal trends for 2024 and beyond
In the US there are currently more than 1.3million lawyers, and it is projected that between 2021-2031, this number will increase by up to 10%. The need for lawyers in emerging fields of law will increase as they grow.
Prioritize your clients in order to survive and ultimately prosper
Every lawyer, no matter the area of law they practice, must be deeply empathic towards their clients and understand their needs. When dealing with unfamiliar situations, clients are often nervous and confused.
You’ll be their expert. You as a lawyer need to be the innovator and leader in your field. Consider “What does this mean for my clients?” You’ll be successful if you keep your client’s needs in mind, no matter what changes the legal industry undergoes.
Finding the right fit between product and market
Do your research before you jump into a new area of practice. Understand what clients want. Offering a service which is not necessary or is quickly obsolete is one of the worst mistakes you can commit. Offering advisory and consulting services to dispensaries located in Oregon on the legalization marijuana, for example, is a mistake, as most of these dispensaries already have a good understanding of the industry and are well established.
Cloud-based technology will become the norm for law firms in the future
We discussed earlier how certain types of laws are affected by technology. Technology can change the way law firms work. Clio, a web-based practice management solution, is used by 70% of lawyers to manage client intake, billing, building and document storage.
By automating and streamlining manual processes, these technological advances help lawyers spend less of their time on non-billable activities. Cloud-based software is becoming more common, and law firms’ future will be more efficient.
Last thoughts on emerging legal areas
Lawyers need to keep up with the latest developments in law as the legal profession continues to change and evolve. It can be difficult for lawyers to keep up with the latest developments in the legal field.
Innovation does not happen in a vacuum. These eight areas of practice will continue to expand, develop and diversify. Lawyers must understand the fundamentals and foundations that affect law, including social, political and technological factors. Lawyers can also adapt to changing situations by keeping up with the regulations.
