Industry Vs Practice
We are often asked by both Lawyers and IP Professionals about
the relative benefits of working in either Industry or Private
Practice. Each has its particular features, and whether these are
advantages or disadvantages, depends on the point of view of the
individual who's making the decision - You!
Some of the features are listed below, but to discuss how important
they are to you, your life and your career, please talk to one of
our consultants.
Industry:
- No billings targets
- No time sheets, although they can be used as
a benchmark to compare costs of outsourcing
- Greater commercial involvement in the
business generally
- A more varied caseload, including advising
on issues and areas beyond your immediate technical expertise
- Comprehensive benefits packages - including
car, pension, private health, share options, stock units, gym
membership etc
- Flexible / part-time working
- Work / life balance
- Liaising with outside professionals and
managing the outsourcing of work to them
- Working within a team with a more varied
skills base
- Working within a smaller team of your own
technical background
Practice:
- Partnership structure can be financially
more lucrative and accessible
- Partnership provides kudos and part
ownership of the business, with more involvement in the direction
of it
- Security: with no shareholders to report to,
mergers and takeovers are less common in practice than in
industry
- Greater freedom to specialise in your
preferred area of expertise
- Support of a larger team of similarly
qualified professionals around you to learn and seek guidance from
- and to pass that learning on to as you become more
experienced
- Variety of avenues for career
progression
- Flexible hours and part-time working less
common
- Marketing and Business Development - if you
enjoy the buzz of securing new clients and deals
- Variety of working with different clients
and businesses