In order to predict the elastic properties of thermotropic liquid crystalline polymers (TLCPs), a simple model based on the composite structure associated with a nematic domain, typical of liquid crystalline system, is presented. In this model, we assume that the volume fraction and aspect ratio of oriented nematic domains vary with the degree of orientation. We estimate the structural parameters as a function of orientation using the well known Halpin-Tsai equations as a basis for the model. The results of such analysis indicate that the degree of liquid crystallinity and aspect ratio of nematic domains are highly dependent on the orientation and this in situ formation of the fiber like nematic domains potentially leads to high modulus and high strength properties that are not obtainable with conventional reinforcing fibers