Monday, November 18, 2013
Yet another incubator project intended to help new law grads launch their own practice. Unlike the rest (here, here, here, here, here, here, and here), this one is privately funded and sponsored by a bar association rather than a law school. Crain's Chicago Business has the story.
A privately supported legal-industry incubator designed to link underemployed young lawyers with "modest means" clients who don't qualify for free legal services was unveiled today in the West Loop.
. . . .
Participating lawyers in the Justice Entrepreneurs Project, whose numbers will grow to 30 next spring, spend the first six months of an 18-month program working through local legal aid organizations to provide free services while developing their own paying clientele. They're getting stipends of about $1,000 a month from local law schools and, after six months, will pay nominal rent for incubator space at 208 S. Jefferson St.
. . . .
The project's annual budget, about $250,000, plus in-kind contributions exceeding that amount, is funded by law firms, other businesses and unclaimed awards from class-action settlements, according to Terri Mascherin, a Jenner & Block LLP partner who chairs the project's steering committee. It plans to seek private grants, she said.
Continue reading here.
Hat tip to the ABA Journal blog.