Entertainment Law: What’re the Differences Between Primary and Secondary Markets?

When it comes to entertainment law, there are vast opportunities for an attorney to book their clientele. More opportunities are presenting themselves in the primary markets – which presents a significant challenge for those looking to try and make a name for themselves.

The Underrated Secondary Market

While it might be more difficult, an attorney can develop a practice and represent a number of clients within the secondary market. However, the attorney must plan accordingly. The secondary market is more volatile, which is why it’s such a questionable area of practice for all lawyers. However, being successful within the market could lead to lucrative opportunities that could set you up for the primary markets.

As an entertainment lawyer, you’ll want to focus on two aspects – assessing the market and understanding the expanding of the industry. If you define both factors properly and appropriately, you’ll be able to create more opportunities for yourself.

What’s Going on With the Economy?

Technological advancements are fueling the entertainment market and increasing the opportunities available for lawyers practicing outside the current market. As stated before, today’s entertainment lawyers are practicing within the primary market – so much that it’s become quite saturated. As the economy expands, more avenues for programming have become available for entertainment lawyers, especially through more nontraditional ways. Remember that if you’re looking to jump into the secondary market as opposed to the primary, stay open-minded to every type of environmental factor as everything can affect how you obtain your clients.

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