Firm Chairman & Managing Partner Angelo J. Genova, Esq. offered his insight on what the new Biden administration may mean for the legal industry in a recent interview by ROI-NJ for their article, “New Administration Means New Agendas — and New Business for Law Firms.”
Specifically, Mr. Genova noted, “Change in presidential administrations are good for the legal business,” and not because of the “politics or social impact, just the bottom line.”
“This isn’t a partisan issue,” he said. “Changes in government, and particularly changes as dramatic as this — and I think this was true four years ago — are going to prompt a greater need for lawyers, and that is going to benefit lawyers that principally represent institutions that have to intersect with government.”
“I think this will be an administration that is more user-friendly to employees, particularly in the labor relations space. And, I think you’ll see changes in the labor laws that are going to require people to look at employee rights to organize, so I think labor lawyers on both sides of the equation will fare well.”
Mr. Genova goes on to say, “Time will tell, but I think what we’re going to see is an administration that is going to be result-oriented, measured, not ideologically driven, and understands that there’s an interrelationship between getting this public health crisis under wraps and our economy. He’s got to deal with the public health crisis and create a foundation for the economy to proceed. And all of those things contribute to the role of lawyers, whether it’s in making deals, acquiring companies, helping companies grow, assisting startups or dealing with the issues involving employees.”
Genova points out, however, that increased business for firms is not necessarily tied to increased business. That concerns him. “Although clients call lawyers to help them navigate changes in law, whether or not those laws are going to encourage economic growth is another story,” he said. “Lawyers also rely on economic growth. So, it’s kind of a double-edged sword.”
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