Law Firm Decides to Grow its Own Clients
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Readers of this blog are already familiar with the incubator projects started by numerous law schools that provide low cost office space and resources to recent grads trying to start their own firms (here, here, here, here, here, here, here, here and here). The ABA Journal is now reporting that one law firm has helped launch a business start-up incubator project in Chicago as a way to cultivate future clients. The project, called Catapult Chicago, is both a business “incubator” and “accelerator” meaning that once a new business gets up and running, if it shows promise the next step is to find investors which might lead to some lucrative legal fees. The take-away being that in an increasingly competitive legal market where new clients are getting harder to find, some law firms have decided to grown their own clients. An excerpt:
Law firms are sponsoring incubators, cozying up with young entrepreneurs
On the 25th floor of the high-rise where Foley & Lardner has its Chicago offices, some of the city’s most promising high-tech startup companies have set up shop in a space the firm set aside just for them.
Read original articleTags: Chicago, Law Firm, law firms
