Layoff option No. 1: start your own firm

Small firms, solos are springing up.

, The National Law Journal

Omair Farooqui sensed that a pink slip might be coming his way. Work had slowed considerably in the months before he was laid off in June from Manatt, Phelps & Phillips, where he was an associate in the intellectual property practice. Instead of sitting by and waiting for the inevitable downsizing, Farooqui stepped up his networking efforts with an eye on the future. A month after he was laid off, Farooqui found a partner and opened his own small firm.

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