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Economic Doom & Legal Industry

Nov 05, 2008 8:33 am

re: Economic Doom & Legal Industry

RVIyengar

Interesting question.

Economic slowdown will (if it has not already started to) impact one's consumption habits and to an extent lifestyle. In my opinion, it will not have any perceptible impact on people with deep pockets. The telltale signs of the impact are already visible in sectors such as banking and financial services, BPO industry and stock markets. Prices, in general, have gone up.

That aside, legal field is an evergreen field, and more so during times of trouble. Law firms and corporate legal departments may just require people to take up cases that involve credit defaults, legal disputes related to layoffs, non-payment of salaries, arrears, etc. I don't think that the economic slowdown will have any great impact on legal field.

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