Do you have dual bar admissions? NYC virtual offices can help you maximize your financial potential in your practice.
These days, it is common practice for attorneys to sit for a second bar exam in a neighboring state. New York and New Jersey even coordinate their bar exams to ensure that each state’s essay portion is administered on different days. If you are dually admitted, you should be using a New York City virtual office to expand your firm’s financial reach.
It can be colossally confusing to obtain a second (or third) bar admission because there is ambiguity in what to actually do with it. A lot of the times it is just kept on the back burner for contingency purposes, yet the fees to keep it always remain active, which means money out of your pocket. You should be utilizing your additional bar admission as a potential source of income. A New York City virtual office arrangement is one of the most effective strategies in seeing financial return on a state bar admission.
What is a New York City virtual office?
A New York City virtual office is a rental arrangement where attorneys can pay low monthly fee (typically starting at under $100 month) to rent the use of a commercial address and have access to office space and conference rooms on an as-needed basis. New York City virtual offices are frequently used by solo attorneys and small law firms who work from one place (out of town or from a home office) but want a premium commercial office address in a different location.
What can a New York City virtual office do for me?
Whether you’re based in New Jersey, Pennsylvania, or Connecticut and have license to practice in New York, a virtual office allows you to establish a presence that has potential to become a lucrative revenue source. Geographic distance is no longer an issue and tapping into the New York City legal market means new fiscal opportunities while still maintaining your out-of-state practice.
Maybe it’s a waste of money?
A New York city virtual office is only as good as the community provided, therefore, one must choose his or her provider carefully. A strong community of attorneys will ensure financial success as a necessary resource to your financial profits.
No Really. How does that help me?
You may be dually admitted, but on average, most attorneys are admitted in a single state. This limits the scope of their representation to the single state. Due to the New Jersey’s geographic proximity, it is inevitable that an ancillary matter will arise during the representation stemming from or involving a New Jersey-based issue. The single admission attorney will need to either:
- Obtain local counsel, or
- Refer the matter out entirely.
Your dual admission allows you to financially take advantage of these situations. If your New York City virtual office community is well organized, the operator will find the “best fit” for these money making opportunities among its virtual office clients.