When most young lawyers dream of success, they picture themselves winning cases in courtrooms, delivering arguments in front of judges, and defending clients in high-stakes disputes. But for Carlos Ocampo, founding partner of what is now Ocampo, Manalo, Valdez & Lim Law Firm, success meant stepping outside the courtroom, taking risks in business, and eventually building a career that stretched from law practice to aviation, entrepreneurship, and corporate boardrooms.
“Had I known then what I know now about how difficult it is to build and run a mid-sized firm, I may not have taken that leap of faith,” Ocampo said with a laugh. “But at the time, I wasn’t thinking about the pitfalls. I was chasing a belief—that there was a niche waiting to be served, and that we could create something that would last.”
The Early Years: Law, Economics, and the Language of the Market
Ocampo began with an AB Economics degree from the University of the Philippines School of Economics, before immediately pursuing law at UP as well. Unlike many of his classmates, he chose to work while studying, even if it meant sleepless nights and double the pressure.
“I thought, maybe if I worked while in law school, I could gain experience so that when the time came for further studies like an MBA, I wouldn’t have to wait,” he explained. “In hindsight, it was not the best idea—you really shouldn’t mix working and studying if you can afford not to. But I did it anyway. I was a legal researcher in the House of Representatives, and that exposure was invaluable. Listening to committee hearings on trade and industry taught me lessons that stayed with me.”
After law school, he joined two major firms where he developed expertise in securities law and corporate law. “Securities law is the language of the market,” Ocampo said. “Corporate law is turning that language into action. That was my foundation. And when our firm served as counsel to the Philippine Stock Exchange, I even had to draft legal opinions addressed to the board. One of them landed on the desk of Cesar Virata, who was then one of the most respected figures in Philippine finance. That was a big moment for a young lawyer like me.”
Taking Flight: Building an Airline From Nothing
His career took a dramatic turn when his practice in transportation law led him into the aviation industry. At just 30 years old, he was invited to help build a new airline from scratch—Air Philippines, which later became PAL Express.
“When I joined, there was nothing. No planes, no pilots, no license, no franchise—just a nice office and some people. I remember walking in and thinking, ‘Wow, this is going to be rough,’” he recalled. “But to a 30-year-old, the idea of helping build an airline from the ground up was an irresistible challenge. I said, ‘Alright, let’s do it.’”
As head of the legal department, he had to assemble a team, secure franchises, and ensure regulatory compliance—all while learning the ropes of an industry notorious for its complexity. “Through God’s will, we succeeded. We got the franchise, we were operating. And suddenly I was part of the management committee, the youngest member at that time. That was my first taste of corporate life—building something that actually flew, literally and figuratively.”
After two and a half years, when the airline was up and running, he knew it was time to move on. “I felt my job there was done. That chapter gave me confidence. If I could help build an airline from nothing, why not build something of my own?”
Building a Firm: From 30 Square Meters to 1,000
The next leap was entrepreneurship. Together with a partner, Ocampo founded a commercial law firm. The early days were marked by scarcity and improvisation.
“Our office was a mere 30 square meters. When our first client came in to pay, we didn’t even have a proper table for him to transact with us. We were fumbling all over the place,” he said. “But those are experiences that enrich the journey.”
Why start a firm in such uncertain conditions? He explained it with a story. “I was sitting one day in Makati, looking at the skyline, and I told my partner: ‘How many companies do you think are out there? Thousands. And how many hardcore commercial law firms can you name? Maybe a dozen. The ratio looks good. This is a sign.’ So we put up our own tent.”
That tent has now grown into a thriving institution. “We started with just the two of us. After a few months we hired an associate. Today, 28 years later, we’re 60 lawyers strong, occupying 1,000 square meters in Pacific Star, and serving 250 active clients across industries. Looking back, I’m still amazed at how far we’ve come.”
Scaling Like a Corporation
From the start, Ocampo resisted the traditional law firm model where partners run their practices in silos. Instead, he borrowed structures from corporations.
“By law we can only be a general professional partnership, but there’s nothing stopping us from adopting corporate best practices,” he explained. “So we pooled revenues, shared expenses, created corporate net income. Not my expense or your expense, but our expense. That structure forces discipline.”
Another secret to growth was knowledge transfer. “The hardest thing to transfer in an organization is know-how. You can write manuals, you can codify policies, but brain-to-brain transfer—that’s the hardest. That’s why we invested early in tools, training, even professional librarians. The more knowledge we transferred, the faster our young lawyers could take on responsibility. In our firm, junior lawyers get early face time with clients. The sooner they learn, the sooner they’re ready to lead.”
For Ocampo, scaling meant thinking like a CEO. “Other firms just share rent and utilities. We shared everything—revenues, expenses, governance. That forced us to operate like a true company. If you want continuity and succession, you can’t run your practice like a one-man show.”
Choosing Corporate Law Over Litigation
He also made a conscious choice to focus on corporate and commercial law instead of litigation.
“In litigation, even when you win, sometimes you don’t really win. The client still has to execute the judgment—collect payments, enforce orders. It’s not over. But in commercial law, when you close a deal, when your client acquires something, expands, or secures financing, you see them succeed. You see them grow. That’s a different kind of fulfillment.”
This deal-making orientation also shaped his mindset as an entrepreneur. “Instead of only thinking about risk and compliance, I started thinking about possibilities and strategies. That thinking made my transition to the boardroom more natural.”
From Advisor to Director: Entering the Boardroom
Over time, Ocampo was invited to join corporate boards. His first was in an insurance company, a role he has held for over 25 years. He later became director in industries as varied as mining, banking, automotive, and media.
“My entry into boards was gradual. One independent directorship at a time, until later, I became a regular director. And I realized, being in the boardroom is very different from being an adviser. You’re no longer just giving opinions—you’re pooling resources, setting strategy, carrying fiduciary responsibility.”
He sees lawyers as invaluable in these roles, especially in highly regulated industries. “Without a lawyer in the board, companies might take longer to navigate compliance and governance. My biggest contribution is stewardship—ensuring governance structures are strong, risks are managed, and strategies are sound.”
A Life of Continuous Learning
Even as his responsibilities grew, Ocampo never stopped studying. “That’s probably the part I enjoy the most—the studying. I don’t know why, but I can spend hours diving into new topics. I even went to Harvard Kennedy School for economic development and Harvard Law School for international finance. Most people study first and then apply. For me, it was the reverse—I was already working on projects, then I went back to fill the gaps. That gave me added confidence.”
For him, learning is not optional—it’s survival. “If you want to remain relevant, you need to keep improving. You can’t wing it. You can’t rely on one big moment of luck. Success is built step by step.”
The Hedgehog Principle
He sums up his philosophy of growth with a simple analogy. “It’s like driving a car. In the beginning, you make big turns because you don’t have policies yet, you’re still learning. But as your company matures, management becomes about micro-adjustments—small corrections that keep you moving forward.”
He often refers to Jim Collins’ “Hedgehog Principle.” “There’s no flashy strategy, no miracle moment. Just steady plodding forward. Step by step, improving every day. That’s how we’ve lasted 28 years and counting.”
And when asked about legacy, Ocampo doesn’t hesitate. “I’d rather my firm be recognized for its good work than for me individually. That means succession is important. At some point, I’ll need to give way so the next generation can lead. That’s how the story continues.”
