How can lawyers leverage Crowdfunding for good?

by admin | June 13, 2018 2:29 pm

Entrepreneurs or professional often struggle with financing and raising capital for a new project or startup. Sometime, the challenges related to lack of funding often leads to people giving up on their dream of spearheading a company or project. That said, technological innovations have opened doors for newer and more creative ways to raise money, besides looking for venture capitalists or angel investors – among them are micro financing, peer to peer fundraising, and crowdfunding. In India, crowdfunding has already gained a lot of popularity when it comes to social causes and raising money for medical treatments. However, the potential of a crowdfunding India[1] goes well beyond just these two categories.

In the professional space, medical professionals and lawyers too, are noticing the beauty of adopting an online donations based method of funding their individual careers. WHile crowdfunding is already booming in the medical space, we at Impact Guru would like to extend these benefits to existing and aspiring lawyers, by presenting some ideas for leveraging crowdfunding to their benefit. Read on –

Role of a crowdfunding India[2] in the world of law

Crowdfunding law studies

Getting an education in law can take upto five years or more. In many cases, people don’t complete their education because they can’t afford it, or they can’t sustain themselves and families while studying. Raising money to pay for law studies would remove these problems for aspiring lawyers.

Crowdfunding for a law firm startup

If you’ve finished your studies and want to start your own firm, but can’t afford to, raising money on a crowdfunding India platform, through a donations based campaign is your best bet.

Crowdfunding for law firm operations

The possibilities with crowdfunding range from donations, equity, reward, or lending. If your firm of entrepreneurial project needs a financial push, one of these ways to crowdfunding for it might come in handy.

Advocate a social cause

Think of it as corporate social responsibility for lawyers, who can use their education to advocate for pressing social issues that plague a society of community of people. Crowdfunding allows you to fight for good causes without having to dig into your own pockets. Moreover, you can even encourage clients to crowdfund to fight cases.

Enable pro bono cases

There are so many instances where people give up fighting the good fight because hiring a lawyer can be extremely expensive. By raising money for cases such as rape or harassment, or trafficking, or child labour victims (among many other causes), you can fight pro bono cases, as well as maintain your financial stability.

To conclude, lawyers could gain a lot by leveraging the spectrum of possibilities that crowdfunding India[3] has to offer – both in terms of personal sustainability, as well as fighting for social causes to create a positive impact on the lives of people. So if you’re a lawyer,or aspiring to be one, raise money on Impact Guru to kickstart your professional career today!

Endnotes:
  1. crowdfunding India: https://www.crowdfundingindia.org/
  2. crowdfunding India: https://www.impactguru.com/how-crowdfunding-works
  3. crowdfunding India: https://www.impactguru.com/

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