Legal Profession survived recession with a flare

While the recent recession wrecked havoc over most industries in Canada, the legal industry was left relatively untouched. The litigious nature of legal system in Canada has provided for a stable ground on which the legal industry stood to survive throughout recession. Aside from that, several other factors contributed to the ease with which legal industry appeared to be booming unlike other industries. For one, even in the economic downturn, companies will sue other companies and parties will sue other parties.. even more so than in a stable economy. Further, most companies were forced to restructure because recession made it obvious that their corporate structure and/or strategies were not recession-proof and for the most part not competitive. With the huge talent pool which suddenly became available, firms were able to more strategically select their talents and thus arm themselves with the know-how that widely contributed to their success.

As a result, legal professionals, such as lawyers and law clerks, were able to benefit as being too a part of their law firms.

Legal industry is a stable industry and is worth investing into.

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