Coworking Space for Lawyer and Legal Consultants
Lawyers are the most sought after people by corporations and individuals. Over the years, the lawyers too have completely evolved from black robes and white collars to corporate offices and legal consultancy jobs. In layman’s term, the legal profession has been majorly understood as litigation. However, with the legal profession evolving, the law incorporates diverse fields such as intellectual property (IP), media and broadcasting, foreign investment, infrastructure, environment, sports and academics to name a few.
Lawyers in India have varied lucrative avenues in this respectable profession.
- • Litigation Lawyers (Practice)
- • Corporate (in-house) Counsels
- • Institutional Lawyers (LLP, LPO etc.)
As far as private practice is concerned, it is extremely difficult in the beginning. If you have your own practice, it takes years to establish clientele, to network among the peers and build reputation. Legal profession in corporate is very different from law practice inside of a court room. The experienced corporate lawyers earn a decent salary and their growth depends upon the type of firm they are associated with.
Law firms in India, both international and domestic, provide comprehensive legal advisory and consultancy services. Due to the recent outbreak of COVID-19 pandemic, many corporations either outsource the legal work, or hire contract lawyers for general day-to-day counseling. Concurrently, the legal industry across the world has responded to the demand for independent legal advisors. Well-qualified lawyers have also taken up freelance work and legal services on contractual basis. From professional motivations (like wanting more control over the amount and type of legal work you do) to personal impetus (like needing more time to care for family), independent legal consulting services have been on the rise.
Impact of COVID-19 Pandemic on Lawyers in India
The pandemic and the subsequent lockdown instances have changed the work culture for not only the corporations, but also for the legal consultants, advisors and lawyers in India. The demand of the hour is to effectively navigate through the posed challenges and thrive in the new norm. Those who have been working in predominantly office-based work environment are now fully in ‘WFH’ mode.
With situation getting a bit normalized now, many legal professionals are reshaping the way they deliver legal services to better meet the client needs and sustain career stability for themselves. For lawyers starting a new legal practice from a small private office in a commercial centre would mean fixed costs and administrative expenses including building leases, insurance, depreciation on office furniture and equipment, subscriptions, utilities, and office supplies. Above that the struggle to get new clients, unearth potential sources and referrals is real amid COVID-19 crisis.
So, what is the alternative available for lawyers?
The answer is coworking space for lawyers. These shared workplaces would help lawyers find ways to
- • bring in clients,
- • keep operational costs low,
- • build up a customer base, and
- • establish a referral network
7 Reasons why Coworking Space for Lawyer is the Ideal Option
Flexible workspaces or the coworking spaces have gained much popularity across several sectors. These may appear pretty new to the professionals in law practices, but the unique set of advantages offered by the shared office space for lawyers is what we uncover in this post.
- Low on Rent
We all understand the importance of cost associated with a business, product or service. It signifies the amount of money that must be spent in order to run a particular activity. For some it is raw material cost, direct labor cost, or employee salary, and for the rest it is advertising expenses or office rental.
Whether you are a law firm, a legal services consultancy or a private practice lawyer, office rent is a fixed monthly expense. Moreover, if your office is located in a prime location, the rentals can go up ten folds. A shared office space offers lower rent when compared to a private office. Lawyers can benefit from substantial cost savings while operating from a private cabin space in a coworking setup.
- Move-in Ready Workspace
Coworking spaces for lawyer and legal consultants are business-ready workspaces. These move-in ready spaces are fully furnished and include modular layout with customized partitioning, carpeting, office furniture and fixtures, and basic electricity with 24/7 power back-up facility. These are pre-equipped with core essentials like communication services, low-voltage cabling, security, business equipment and IT infrastructure.
For lawyers who need office space quickly, and who do not wish to undergo the hassles associated with setting up a traditional office, where they have to set up a high-speed Wi-Fi, find the right furniture and storage units, and install printers and copiers, coworking office spaces are best suited to their needs. Moreover, the availability of meeting rooms or the board rooms is an asset to leverage where they may require additional seating for case discussions and legal consultations.
- Shared Resources and Amenities
When it comes to the required resources for any business to function at peak operability and profitability, the professionals in private law practice too require certain basic facilities and amenities. These include
- • Printer, Scanner and Conference facilities
- • Reliable, high speed Wi-Fi or secured fiber leased line
- • Fail-proof power backup
- • 24-hour office security facility with trained personnel and CCTV cameras
- • Onsite parking with ease of access and transportation
- • On-site cafeteria or pop-up restaurant
- • Outdoor space
- • Lounge space with comfortable seating and LEDs
- • Activity zone with foosball and ping-pong tables
- • Fully equipped fitness center
Pre-furnished office spaces offer all these into a single monthly package. Lawyers can save additional cost by sharing these office resources with other coworkers.
- Positive, Professional Outlook
The legal profession is governed by legal ethics that involve certain standards of appropriate conduct towards fellow workers and society at large. Lawyers always have a grave responsibility to act in a professional manner, obey the law, and provide legal aid to those who need it. Now, imagine a situation where a lawyer conducts his/her practice from home and goes out to a coffee shop or a restaurant-cum-bar for client meeting. Let us take on another instance where a lawyer has a small office setup in a commercial complex over-crowded with many other businesses and is difficult to reach at. What perception the client would hold in each of the situations?
Coworking breaks the stereotypes associated with a lawyer’s cabin. These workspaces embrace a culture of smart design which gives you and your business a positive and more professional outlook. Office spaces with high-end décor and finishes give prospective clients a sense of professionalism, and helps lawyers in building clients’ trust in the crucial legal matters.
- Networking and Collaboration Opportunities
Coworking spaces excel in providing collaborative workspace solutions. Establishing a strong network and cultivating meaningful client relationships is integral to every business. For lawyers and legal advisors, the business highly depends on referrals. The word-of-mouth from existing clients will have a major influence on the potential customers in future.
When working from a shared office space lawyers can not only establish business via referrals, but also share and absorb valuable information while collaborating with peers for legal advice and support. In general, lawyers collaborate across their boundaries in order to address clients’ most complex issues. Also, it is a common practice among lawyers to hire expertise of another lawyer for co-counsel. This type of collaboration is only possible in shared office spaces for lawyers, and not while operating out of one’s home or own office in a commercial space.
- Increased Learning Opportunities
Peer-to-peer interaction is the best way for lawyers to learn something new every day, no matter how little or how big. Acquiring information relevant to one’s practice area and keeping up with the latest updates are vital for success in career.
Coworking space for lawyers offers excellent opportunity to be in proximity of other law professionals and gain knowledge in complementary practice areas. For instance, information dissemination between a lawyer specializing in Business (Corporate) Law and a lawyer who has vast experience in Bankruptcy Law can be mutually beneficial as each one has a different perspective to present. The opportunities to learn and broaden your horizon are limitless, provided one has the ability to acquire information.
- Better Work Environment
In terms of overall work environment the coworking space for lawyers aids in focused work and higher productivity. Unlike working from home or a work café, which can be noisy and distracting, these shared office spaces offer optimal environment to perform, collaborate, sustain and grow business. Beginning with cost advantage, shared resources, ongoing networking, and learning opportunities, the flexi workspace environment has an instrumental impact on the growth and success of every business.
Why is Shared Law Office Space a safer and economic option for Solo Lawyers?
The term shared law office space is an alternative description for a coworking space for lawyers. A predetermined perception about shared offices has been that these workspaces are suited only to entrepreneurs, start-up businesses, and freelancers. In essence, a coworking office space is a specific space designed to be shared by groups of professionals, such as lawyers and legal consultants, that provides flexibility, resources, and opportunities.
Coworking spaces are ideal for budget-minded business people who do not need a lot of room to operate. Solo lawyers can benefit immensely from shared law offices that are built and operated like a law firm.
- First, if you work in a shared environment amongst other lawyers, these can help you showcase your professionalism.
- Second, being more communicative with one another in a coworking space will help assist you in building a large referral network and connections.
- Third, these provide absolute privacy and confidentiality for your clients. Shared offices for lawyers offer private executive cabins that will retain your and your client’s privacy at the office.
- Third, these provide absolute privacy and confidentiality for your clients. Shared offices for lawyers offer private executive cabins that will retain your and your client’s privacy at the office.
- Last, but not the least, shared law office spaces allow you the benefit of low-rent and shared office expenses.
Summary
Coworking makes work-life balance easier and steadier for every professional. The benefits of shared office space for lawyers, if leveraged to the hilt, will prove highly fruitful for private law practice professionals in today’s highly competitive market. If you are a solo practitioner, lawyer-turned-consultant, or legal advisor, make your presence known in a premium yet affordable, serviced coworking spaces in Noida. Let’s Connect has got just the right workspace for you.