Book excerpt: The contemporary law practice has fundamentally changed. There has been a power shift from law firms to clients due to economic shifts, the impact of technology, and a leveling of information and metrics. Client focus, understanding, and service are more important than ever. It is clear that recent law graduates need to have an astute comprehension of business fundamentals and appreciation of the business drivers underpinning the practice of law. The Business of Contemporary Law Practices provides students—and practicing attorneys—a solid foundation for understanding, adapting to, and thriving in the world of private or in-house law practice. From business development to human resources to technological platforms, this book will simultaneously build a baseline business-world fluency and inform any reader of the various law firm and non-traditional legal environments many will find themselves in. Professors and students will benefit from: Historical backdrop and orientation to the modern context for the private practice of law Introductory business information including essential vocabulary and financial statement fundamentals An in-depth examination of private practice and in-house legal departments Discussion of emerging business models and technology Enough high-level information to gain an appreciation for unfamiliar subject matter with opportunities for more immersive experience in particular areas of professor expertise and student interest.