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Business Law
LAW IN THE AGE OF ENTREPRENEURSHIP: RETHINKING THE ROLE OF THE 21ST CENTURY LAWYER
ABSTRACT It is essentially a truism that in this present day and age, the image of a lawyer is changing. It used to be that lawyers were known strictly for the professional service they deliver. However, legal practice now operates in an environment shaped by technology, globalization, competition and increasingly sophisticated clients. This evolution raises a fundamental question: has the law turned into a business? This essay examined the emergence of the entrepreneurial lawyer and argued that understanding how business works is not something that can be ignored anymore in modern legal practice. However, entrepreneurship must not displace the ethical foundations and values of the profession. Rather, the twenty-first-century lawyer must strike a careful balance between innovation, financial sustainability and professional responsibility. In the end, the future belongs to lawyers who can think like entrepreneurs, but still stay true to what it means to be professionals. Keywords: Corporate Entrepreneurship; Entrepreneurial Lawyer; Business of Law; Twenty-First-Century Lawyer.
By Elvis Sopuluchukwu Obichukwu
29 Sept 2026
6 min read
1.0 INTRODUCTION
For centuries, traditional legal practice has been distinguished from ordinary businesses largely because it prioritizes access to justice and the rule of law over profit making. To many, the worlds of the entrepreneur and the lawyer could not seem further apart. However, the realities of the twenty-first century have transformed the landscape of legal practice to the extent that nowadays, modern lawyers need to possess not only legal expertise but also sound business judgment. This changing reality has thus posed an important question up for consideration: has the law become a business, or is it simply a profession adapting to modern demands? This essay argues that while law remains a profession built on public trust, the corporate lawyer must embrace an entrepreneurial mindset to remain relevant and competitive, provided that commercial success never takes precedence over professional ethics.
2.0 LAW AS A PROFESSION
Long before the legal profession became associated with branding, technology and business strategy, it was defined by an ethos of service. Perhaps no tradition illustrates this better than the small pocket sewn behind the left shoulder of a lawyer's gown. According to legal tradition, it served as a discreet means through which grateful clients could leave a lawyer's fee, especially when directly demanding payment for legal services was considered inconsistent with the dignity of the profession. The symbolism carried by this act was that a lawyer did not see the legal profession as a business; far from that. To him, the legal profession was a noble call to service.
This philosophy has shaped legal practice for centuries. As such, success was measured by professional reputation, not commercial visibility. The emphasis was therefore on the faithful delivery of legal services rather than the commercialization of legal practice. This traditional stance was better conveyed in the words of Hon. Justice Eso, J.S.C (as he then was) in Adewunmi v Plastex Ltd (1986) 3 NWLR (pt. 32) p. 771, where he described a lawyer as follows:
"A lawyer is not a tradesman. He is not like a cobbler who deals with the awl and who can be jettisoned by a customer when the awl fails to perform. A lawyer is a professional, and vis-à-vis a client is to be employed at his discretion."
The message here is clear to the effect that law is not an ordinary commercial enterprise. Although lawyers earn fees for their services, their overriding obligation is to justice and ethical standards that distinguish the profession from every other business. But can the same be said of the twenty-first century lawyer?
3.0 THE RISE OF THE LAWYER AS A CORPORATE ENTREPRENEUR
The answer to the foregoing question lies in the remarkable transformation of legal practice in the twenty-first century. The frontiers of legal practice have expanded and will continue to expand as we progress further into the 21st century. New sets of opportunities are emerging, and the style of practice is also changing. Law is now run more like a business, and the face of legal practice is truly changing.
According to a report produced by legal strategist Jordan Furlong for Lawyers on Demand, the profession is going through an industrial revolution. There is no gainsaying that the highest-earning lawyers are not necessarily those that know the Law, but those that can market themselves to attract the type of clients they want for their law practice. For a growing number of lawyers, this means the traditional image of a lawyer working within rigid firm structures no longer reflects the reality or the opportunities of a modern legal practice.
The Nigerian legal profession has not been insulated from these developments. Speaking at the NBA Lagos Branch Law Week, Yemi Candide-Johnson SAN observed that the legal profession is navigating the Fourth Industrial Revolution and stressed that financial literacy has become indispensable for the modern lawyer. According to him:
"There is no excuse for lawyers to be clueless about money: running a business, balancing a ledger, understanding tax principles, working with statistics, calculating profit margins, even explaining the rationale behind their fees. Every lawyer in private practice is running a business of one size or another. Financial literacy is essential."
The implication is evident to the extent that the twenty-first-century lawyer can no longer rely solely on legal knowledge. Building a reputable personal brand, embracing digital platforms and understanding clients' commercial realities have now become essential attributes of successful legal practice.
4.0 STRIKING THE BALANCE BETWEEN ENTREPRENEURSHIP AND PROFESSIONAL ETHICS
The rise of the entrepreneurial lawyer should not be mistaken for the commercialization of the legal profession. Consequently, the modern lawyer may think like an entrepreneur, but must always act as a professional, ensuring that no commercial interest is ever permitted to outweigh the ethical obligations that define the legal profession. It is pertinent to note that the entrepreneurial mindset doesn't replace great legal work; rather it enhances it.
From the foregoing analysis, it can be said that the 21st century lawyer is inextricably linked with business. In fact, this assertion is supported by the Black's Law Dictionary which defines a lawyer as;
"A person learned in the law; as an attorney, counsel, or solicitor...whose business is to give legal advice or assistance in relation to any cause or matter whatever." (emphasis mine)
This goes to show that a lawyer must have ethical considerations and balance in the plying of his business. Consequently, the 21st century lawyer must decline any legal representation or business if such a representation conflicts with the professional ethics which governs his business.
5.0 CONCLUSION
As the legal profession continues to evolve, lawyers who embrace entrepreneurial mindsets are finding themselves better positioned to adapt, grow, and lead. Therefore, until the 21st century lawyers can learn to brand themselves personally and market their name, they may remain at the back burner while those who can leverage personal branding efforts take the lead in the legal profession and remain the high-earning stars of the profession.
REFERENCES
1. The Global Legal Post, 'Entrepreneurs are the Future of Law' (30 January 2014) https://www.globallegalpost.com/news/entrepreneurs-are-the-future-of-law-70022889 accessed 27 July 2026.
2. A S Awomolo, Discipline at the Bar: Anatomy of the Legal Profession (Nigerian Institute of Advanced Legal Studies 2013) 23.
3. The Nation, 'How 21st century lawyers can succeed' (22 May 2018) https://thenationonlineng.net/how-21st-century-lawyers-can-succeed/ accessed 27 July 2026.
4. Ben W. Heineman, Jr., William F. Lee and David B. Wilkins. 'Lawyers as Professionals and as Citizens: Key Roles and Responsibilities in the 21st Century', Paper, November 2014.
5. Black's Law Dictionary, (6th ed. 1990) West Group.
6. Udosen Jacob Idem, 'The Prospects of New Entrants in the 21st-Century Legal Practice in Nigeria' https://djetlawyer.com/21st-century-lawyer-in-nigeria/ accessed 28 July 2026.
7. O. Orojo, Conduct and Etiquette for Legal Practitioners (London: Sweet and Maxwell, 1979) 1.
8. Ben W Heineman Jr, William F Lee and David B Wilkins, Lawyers as Professionals and as Citizens: Key Roles and Responsibilities in the 21st Century (Paper, November 2014).
9. Leonard Bierman and Michael A Hitt, 'Globalization of Legal Practice in the Internet Age' (2007) 14(1) Indiana Journal of Global Legal Studies, 30.
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