Which legal specialties are best for riding out depressions? Bankruptcy? IP?

[Jake_MONDATTA]

Maybe it's best to work for the government?

[Majmun]

I'd say gov>tax>bankruptcy>some IP*

*The longer the economy is down the more IP will be affected. IP tracks pretty well with RD spending and RD is definitely going to decrease.  While prosecution will probably take a hit, Patent prosecutors will have less competition in a flooded job market bc of the tech degree requirement.

[CTL]

Tax is always consistently valued.  However, that means you will have to actually WANT to practice tax law...

[Thistle]

Tax is always consistently valued.  However, that means you will have to actually WANT to practice tax law...

i would rather starve poke out both eyes, set myself on fire, put it out by jumping in a vat of acid, and THEN starve.

[linquest]

Maybe it's best to work for the government?

The federal government at least.  States are more likely to go through hiring freezes and layoffs.

ERISA is also a great area in both good and bad economic times.  A little more interesting than tax but also more complicated in some ways.

[,.,.,.;.,.,.]

Tax is always consistently valued.  However, that means you will have to actually WANT to practice tax law...

The IRC and title 26 of the USC are surprisingly interesting, especially if you're into statutory interpretation and roadmap to evasion.

[nealric]

i would rather starve

I actually like tax law so far. It's a lot like civpro (which I also enjoyed) in that it's all about gaming the system.

[Talk to the Hand Formula]

Tax is always consistently valued.  However, that means you will have to actually WANT to practice tax law...

The IRC and title 26 of the USC are surprisingly interesting, especially if you're into statutory interpretation and roadmap to evasion.

Anyone know where I could get a roadmap to evade this guy??

[jacy85]

Tax is NOT the place to be, IMO.  Most tax attorneys I know that still have jobs are incredibly slow (almost as slow as corporate attorneys), and I know quite a few that have been laid off "left their firms as a result of natural attrition or as a result of the normal annual review process." 

Bankruptcy is the key, but I wouldn't necessarily switch over to bankruptcy unless you actually had a passion for it.

IP has been doing generally well, but as recent posts at ATL have shown, even some of the premier IP firms have been effected.

[Jake_MONDATTA]

Majmun makes a great point about IP.  There should be a lag between when the crisis hits the rest of the economy and when it hits IP since the latter is so dependent upon long-term research projects.  The second point is also a good one.  There is an inherent advantage in IP prosecution because those who are qualified to do it are relatively few.  Things will undoutedly get worse, but it will be interesting to see if they're better in IP than in other legal sub-fields.  The feeling on most IP boards is that it IP will fare relatively well... but nobody's seen an economy like this before.