Emerging Areas Of Law Practice In Nigeria.

By Onyedikachi ‘KC’ Ahunanya

The roles played by traditional professions in society are being redefined and disrupted daily. The Legal Profession has not been spared. Often referred to as the ‘Noble Profession’,  the common law origins of the legal profession can be traced back to ancient Greece when personal agents/representatives with oratorical prowess and a knowledge of the law who would plead the cases of others.

Today, the scope of services offered by Legal Practitioners has been extended beyond the traditional function of representation and litigation. Lawyers today provide a myriad of services that include Compliance, Administration and Risk Management. The field is so large that some form of specialization is required to attain a mark of distinction. In fact, many Lawyers struggle for years to decide on a specific area of practice within which to specialize. Specialization across State lines is compounded by the large scale absence of a viable private sector in some states, leading to a narrow set of options available depending on one’s primary practice location.

On a global scale, the democratization of information on the internet has led to massive job losses in consulting professions. According to Bloomberg News, Lawyers lost more than 150,000 jobs in the first quarter of 2020, and the decline continued in the second quarter of 2020. In Nigeria, some transactions that were considered to be the exclusive preserve of lawyers have suffered the same fate of democratization. These include Business Registration, Company Secretarial services, etc. Nature however abhors a vacuum and as some doors close, others are opened. If we are to be relevant in the digital economy, we must have a frank conversation about identifying emerging areas with a view to developing specializations in these emerging fields.

Here are 5 Emerging Areas in which Legal Services are highly sought after:

1. Intellectual Property Law

Intellectual Property refers to creations of the mind. The entire digital economy is built on the foundation of IP. This includes the source code, software, videos, music, images, etc. The IP ecosystem also incorporates Entertainment Law, Innovation, Science and Tech among others making it the fastest growing area of law in the world today.

The opportunities for lawyers are legion, from registration, consultation/advisory services, administrative filings, etc, IP services can be a viable and veritable practice choice and source of steady revenue. An IP Lawyer may specialize in Trademark, Copyright, Patents or Industrial Design Law. Sister fields also include Sports Law, Fashion Law and Entertainment Law.

2. Fintech Law

The introduction of communications technology products into the financial services market has provided millions across the world with access to basic financial services. In Nigeria, the Fintech industry is rapidly unbundling traditional banking services and redefining banking.

Fintech companies provide access to funds, fiat and non-fiat currency and other financial services through the use of accessible, everyday technology powered by software. What is even more interesting is that Nigerian fintech companies are drawing the attention of global players in the venture capital space who seem to be eager to get a piece of the market.

The novelty of the sector and developing regulatory landscape make the Fintech industry a rich playground for Lawyers.

Practicing in this space would require an understanding of contract law, intellectual property and finance.

3. Construction Law

Nigeria is home to 2 of the fastest growing cities in the world: Lagos and Abuja. With rapid growth and infrastructural development, Construction Law is an area that contains the principles and practices that regulate contracts for designs engineering, infrastructure and building works. This niche area of practice has contributed to the increased adoption of ADR in the Infrastructure and Construction industry.

4. Medical Law

Since the advent of the collation of a Patients Bill of Rights, there has been a steady increase in awareness and knowledge of medical malpractice and negligence. As a result of the combined factors of the Covid19 pandemic and the Nigerian medical industry’s shift towards Patient-Centered care, more people are demanding increased accountability for medical and healthcare professionals. Common medical malpractice claims include Misdiagnosis, Failure to Diagnose, Delayed Diagnosis, Childbirth Injuries and Maternal Mortality. Medical law focuses on the prerogatives and responsibilities of medical professionals and the rights of the patient.

5. Blockchain

A blockchain is a digital decentralized, public ledger that exists across a network and is distributed using digital technology. Blockchain technology is the platform for the growth and adoption of innovation in the Digital Economy including Bitcoin and other cryptocurrencies. Blockchain technology also provides a wide variety of uses in several other areas of daily living such as contracts, healthcare, dispute resolution, etc.

For example, the ledger technology helps healthcare researchers uncover genetic code by facilitating the secure transfer of patient medical records, managing the drug supply chain, and facilitating the safe transfer of patient medical records.

The growing adoption of smart contracts has also seen an influx of legal practitioners into the Blockchain ecosystem. A smart contract is an application or transaction protocol intended to automatically execute, control or document legally relevant events and actions according to the set terms of an agreement. Smart contracts automatically execute, control or document pre-programmed legal events and actions in accordance with the terms of a contract or an agreement.

Onyedikachi ‘KC’ Ahunanya is a legal practitioner and the Principal Partner of Legal234.com, a hybrid Law Firm based in the FCT, Abuja and Cyberspace. He can be reached through phone calls and Whatsapp on 08135268147.