Akshat Khetan
Countless studies have extolled the benefits of women empowerment and gender disparity in the legal fields. In India too, the contemporary discourse has found ample mentions of women empowerment and gender disparity. At the start of the year, Chief Justice, DY Chandrachud was quoted by a news-agency emphasizing on the need to create dignified working conditions for women. Data indicates that the country needs more than just infrastructure if we are to empower more women in the legal field.
To the unversed, India celebrated a centenary last year of a previous ruling that reversed the ban on women practicing law. As of 1923, women was barred from practicing law but the 1923 passage of the Legal Practitioners (Women) Act helped women gain an entry into practicing law. However, a hundred years later, on-ground statistics are far from encouraging. Parliamentary data presented in 2023 by Kiren Rijiju, the minister for law, presents a wide gap between men and women not only in terms of jurists but also practicing lawyers. The Bar Council of India’s data from 15 states found barely 15.31% of practicing advocates as women.
While the numbers indicate the urgency to adopt women-centric policies, there has been a healthy influx of student participation in the legal arena. There has been a healthy increase in girls appearing in CLAT (Common Law Aptitude Tests) exams. In 2011, the girl participation rate stood at 32% while for CLAT 2022, 56% were females. While statistics on the ground-level spur optimism, there is a concern with more women quitting the profession once they reach the middle-level. The reality is eerily similar to the OTT Show, The Trial, that premiered on Disney HotStar, featuring Kajol. An adaptation of ‘The Good Wife’, this show reveals some startling trends including how the protagonist, a woman, has dropped off from a viable profession and how she resumes it only after her husband gets imprisoned.
BEYOND GENDER STEREOTYPES:
Despite its popularity, one may attribute stereotypical shades with the kind of cases handled by the protagonist in the show. A similar trend has been observed in the India’s legal profession. Women in law have often been pigeonholed into handling cases around family and divorce laws. This sidelines their potential to excel in corporate, criminal, and other legal domains. To truly empower women in legal practice, the ecosystem must move evolve beyond this stereotypical treatment and recognize diverse capabilities and functions where female legal professionals can excel.
In the entrepreneurship segment, statistics has pointed out a growth of women entrepreneurs and business leaders in India. The limited availability of legal firms in the
entrepreneurship segment further limits the service-providers who could cater to the needs of women entrepreneurs. According to the Sixth Economic Census by the Ministry of Statistics and Programme Implementation, women constituted nearly 13.76% of the total entrepreneurs in India, managing over 8.05 million establishments. These women need robust legal support to navigate complex business regulations, intellectual property rights, mergers and acquisitions, and compliance issues.
NEW-AGE LEGAL ADVISORY ROLES
Besides stereotypes, traditional legal services have often overlooked the specific challenges faced by women in business, such as navigating gender biases, accessing funding, and balancing professional and personal responsibilities. A new-age legal advisory firm could be one that is designed to provide personalized legal guidance catering specifically to women entrepreneurs.
Statistics from the most recent National Family Health Survey have pointed out that in India women depend upon their husbands for legal and financial advice. In addition to this, the International Finance Corporation (IFC), nearly 70% of women-led small and medium enterprises (SMEs) in developing countries, including India, experience financial constraints due to lack of access to legal resources. Now, modern legal services could be crucial from the perspective of offering tailored advice. This could enable more women to navigate complex legal and financial landscapes. By addressing these gaps, new-age legal advisory businesses empower women entrepreneurs to make informed decisions and confidently pursue business opportunities.
A significant aspect of these services is their focus on personalized guidance. Unlike conventional legal firms, these advisory businesses provide a more nuanced approach, taking into account the unique circumstances and goals of each woman entrepreneur. This includes helping them understand and comply with regulatory requirements, secure intellectual property rights, and navigate legal hurdles that are often more daunting for women due to societal expectations and gender biases.
The legal advisory market for women entrepreneurs is poised for significant expansion. As more women venture into entrepreneurship, the need for specialized legal services that understand and address their specific challenges becomes increasingly important. Women entrepreneurs face distinct legal hurdles, including discriminatory practices, gender-based biases in financial dealings, and additional scrutiny in compliance matters.
In conclusion, the emergence of new-age legal advisory businesses tailored for women entrepreneurs signifies a critical advancement in the legal landscape. By providing personalized, independent legal guidance, these firms empower women to overcome traditional barriers and thrive in their entrepreneurial endeavors. As this market continues to grow, it presents a substantial opportunity for legal professionals to support and benefit from the rising wave of women-led enterprises in India.