As future lawyers navigate their way through law schools, a growing emphasis is being placed on equipping them with an understanding not just of legal doctrine, but of the business implications of legal practice. Enter Kevin Burke, former chairman at the law firm Hinshaw & Culbertson, who is spearheading this initiative at the University of Southern California’s Gould School of Law.
In conversation with Bloomberg Law’s Roy Strom on the On the Merits podcast, Burke elaborated on his course that aims to unpack the intricacies of law firm financials, governance, and market trends—areas seldom covered in traditional legal education. His course delves into vital questions such as: How exactly do law firms generate revenue? What operational structures support their governance? And, importantly, what emerging trends lie on the horizon?
Burke highlights a profound shift in today’s legal students, who are eager to grasp the dynamics of the firms they aspire to join. Interestingly, amidst growing discussions about the transformative role of technology, these students hold a generally optimistic view of how artificial intelligence might influence their future career paths within the legal sector.
This structured insight into the business aspect of law aims to not just fuel academic curiosity, but to better prepare students for the practical realities of legal practice. For a more in-depth discussion, legal professionals can listen to the full podcast episode here.