Have you ever practiced or had an interest in practicing contract law? If not, have you ever considered adding that as a practice area in your firm?
While working at Holland & Knight, LLP I noticed that they, like many large firms, have a Sports & Entertainment practice area. I thought it was neat, but then thought that they may come into conflicts of interest when representing athletes and entertainers, while also representing companies that sponsor them and the professional teams that employ them.
That led me to think of how small firms could benefit by adding contract law as a practice area. Firms like your own, for example, more often represent individuals as opposed to big businesses. In addition, firms like yours have practice areas that are needed by all individuals: the array of family law (divorce, bankruptcy, etc...), as well as civil litigation. Add contract law, and you become a one-stop shop for any athlete or entertainer. Contract law allows a small firm like yours some options to offer to athletes/entertainers: 1) your firm could serve as their agent, or 2) your firm could provide the contact law element only (as many athletes/entertainers now have primary agents that aren't lawyers, and need to sub-contract the contact law element to law firms). While providing the contact law element, the athlete/entertainer is exposed to your firm and its other practice areas (which could serve their needs throughout their life). With or without the practice area of Sports & Entertainment, your firm can offer contact law work to any client in need (individual or business).
Adding contract law to your skill set as an individual attorney will expand on the services you can provide to clients, while running your own firm. And, should you someday wish to join a larger firm, you'll bring contract law expertise as part of your resume. In either case, contact law can help bring some high profile (more profitable) clients to your firm.
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