How do I develop my commercial awareness?

Solicitors Journal Reprint

Studying law is all about what the law is, how it was formed, how it has evolved, and the framework in which it operates. What is not taught is the difference between the study of law and the practice of law; lawyers not only practice law, but they do so within the structure and framework of a profit-making business. An understanding of the business of law and how firms act as commercial operations is fundamental in demonstrating ‘commercial awareness’ and understanding the role of a lawyer in today’s world. In fact, it may be said that lawyers don’t just ‘do law’, they function as business advisers, project managers, risk managers, and confidants.