Please note that these popular practice areas depend on numerous variables such as the local economy, new law, and level of enforcement and are always subject to change.
1. Corporate: New York corporate law revolves around mergers and acquisitions, private equity, and venture capital. Be prepared to deal with cross-referenced finance issues such as lending and banking, which have been fused into this ever-so-popular area of law.
2. Litigation: Litigation is always in style in the Big Apple. From commercial to insurance to product liability to security litigation, New York truly has it all. In addition, be on the lookout for the trendy corporate investigation field that has burgeoned in response to the Sarbanes-Oxley Act.
3. Finance: With Wall Street around the corner, there is much work to be done in this exciting legal sector. Although the stock market drives much of this practice area, be on the lookout for new government (Federal Reserve) and venture capital opportunities.
4. Tax: New York tax law centers, not surprisingly, on the corporate and finance practice areas noted above. As a result, search for firms and businesses with direct links to those areas.
5. Bankruptcy: Corporate restructuring has emerged as one of the leading bankruptcy subcategories in New York. With numerous businesses located in New York, there is never a shortage of work in this dynamic area of law.
6. Employment: New York employment law has never been stronger. As of late, there has been a surge in employment law when it comes to discrimination, whistleblower matters, and severance packages.
7. Intellectual Property: Intellectual property in the Empire State has always been kind to patent attorneys. Recently there has been a distinct preference for applicants with higher educational degrees (master's, Ph.D., etc.) in engineering as well as the traditional sciences of chemistry, biology, and physics.
8. ERISA: It is no secret that most Employee Retirement Income Security Act (ERISA) litigation takes place in New York. Common issues include preemption, healthcare, and employee benefits.
9. Real Estate: With an abundance of office space, leasing, title, mortgage, and escrow questions dominate this field. Zoning work has also picked up as of late.
10. Trusts and Estates: Trusts and estates law has spiked recently as New York's wealthy population tries to exert control. Notable practice areas here include gift- and fiduciary-related niches. In addition, be on guard for the numerous tax issues that can and will cross over.
- See Top 10 Reasons Most Law Firms Have No Idea How to Hire and Evaluate Patent Attorneys for more information.