Categories:UK

Going solo

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  • POINTLESS?

    Sorry but although inspiring that one person could do this most are still pretty hard done by. Even if every laid-off lawyer were to become a consultant, we are in a recession and there is not enough work to go round. I was made redundant from a large investment bank after 4 years of working in their derivatives transactions legal team and that was 4 months ago. Agents are still stock piling CVs and mine is amongst them but the jobs just aren't there.

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  • PI

    Not being a consultant myself it's difficult to give a complete answer to the point raised that the Law Society requires the consultant to have their own PI insurance if they work for more than 4 firms. I would want to find out chapter and verse why they say that and then look at how to get round it - because it is possible to get around. I know consultants who work this way and if they had to have their own insurance it would be completely unviable. Some consultants appear on the firm's practising certifcate as solicitors working for the firm, so I guess that might be the way to get round the problem. If Ana appeared as a solicitor on all the PC forms for the firms for whom she has worked the previous year she would effectively benefit from their PI cover.

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  • Virtual community of unemployed lawyers

    Dear Anna, thank you for sharing with us your experience. I have also come to the conclusion that the only way to find work at the moment is to create its own work, however it is quite difficult when you have been pampered for years by a large law firm and have worked only on huge transactions which are not entrusted to sole practitioners. An idea could be to create a virtual community of lawyers who are in a similar situation to exchange ideas, referrals, do common marketing, offer below the market fees and move forward.

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