The Role of Entrepreneurship among Lawyers

The objective of this dissertation is to investigate the role that entrepreneurial knowledge may play for lawyers and to identify the advantages that such knowledge can bring to their professional development. To achieve this, during the research process, an exhaustive revision of literature was made about the generic concept of entrepreneurship; then the scope was limited to focus on entrepreneurship related to service industries. Finally, the topic of entrepreneurship for lawyers and legal firms was specifically addressed. The methodology used was a revision of literature contrasted with a survey consisting of 10 questions designed for lawyers, which dealt with their skills and knowledge in areas of law as well as in other areas such as entrepreneurship. As a result of the study, it was determined that lawyers have a solid knowledge of exclusively legal topics, such as introduction to law, business law, obligations, and contracts, among others. Nonetheless, although a high percentage of those surveyed wished to set up their own firm or are owners of a company, they lack sufficient knowledge of company management and entrepreneurial skills. In fact, according to the results, the lawyers surveyed identified their need to acquire more knowledge related to entrepreneurship, such as innovation, marketing, operations, and finance. This indicates an opportunity to offer more consultation in these fields and calls for universities to intensify and integrate knowledge of law with knowledge of business and entrepreneurship