The Personal Injury Business
If you are anything like how I was just a few months ago, you have no interest in the legal business. And without an interest in the subject, it is unlikely that you know much about the various subsections of the legal business, including different types of law, various categories of clients, and the many areas of expertise that lawyers have. But for some reason, I have recently become interested in the subject. As a result, I have done lots of research on the different types of legal work for which a lawyer or different firms can work.
Hands down, the most lucrative, interesting, and competitive type of law that a lawyer can work in, is personal injury law. However, personal injury lawyers must handle their business with sensitivity. Some lawyers are dealing with numbers on a piece of paper or a problem that affects profit margins. But for personal injury lawyers, every case that they handle has a person behind it; a person with feelings, problems, and, yes, devastating injuries! Clients must be handled with respect, always keeping in mind their humanity.
In this piece, I will further describe the business of personal injury law. In addition, I will discuss some of the research I’ve done on businesses that work alongside personal injury lawyers.
The benefits of personal injury law
When a person has been tragically injured, it is the job of a personal injury lawyer to fight for justice on behalf of the injured person. This often means fighting against powerful businesses or far more privileged people whose negligence or intentional actions caused an injury. Because the parties that caused the injuries are often very rich or established, personal injury legal cases can result in settlements numbering in the tens or hundreds of thousands of dollars. This is the trade-off for personal injury lawyers: they must often work against powerful actors with unlimited resources, but in exchange, they can successfully achieve a just finding for their client that was unduly injured. The stakes are high but the reward is high, too!
So, one benefit is being paid handsomely for their efforts. And the other benefit for personal injury lawyers, as mentioned, is being able to sleep soundly at night knowing that their hard work resulted in a victim being able to pay their bills or survive hospital fees.
Competitive nature of personal injury law
With such an interesting dynamic (steep costs and steep benefits), it is no surprise that the personal injury legal field is a competitive field. It seems that every lawyer around is willing to fight against a company or person responsible for causing injuries. It is such a competitive business, in fact, that there are legal conversion experts whose jobs are dedicated to answering client phone calls — sometimes in multiple languages, or finding other ways to retain clients to stay with a certain firm.
In other words, personal injury law is so beneficial, there have been entire businesses created to work within the field! All the more reason that the personal injury world has been considered the most competitive type of law.