We all have heard the term Corporate Law very frequently; however, not everyone is aware of what exactly it deals with. Corporate Law includes the rules, practices and regulations that govern the formation as well as the operation of corporate firms. Thus, in simple words, Corporate Laws deal with forming, owning, operating and managing of a corporation. In the law specialisation typically candidates learn about how corporations, investors, employees, shareholders, directors, creditors and other stakeholders like the community, consumers and the environment interact with one another. A Corporate Lawyer can work in a large or mid-sized firm. A Corporate lawyer usually counsels clients and also handles business transactions which include negotiation, drafting as well as a review of contracts and other agreements that are associated with the activities of the company/ business, like mergers, acquisitions, divestments etc.
The mode of corporate governance varies from one organization to another and hence the legal characteristics and legal problems also differ. Corporate law regulates how the given organization, corporation, investors, directors, shareholders, employees, creditors, and stakeholders, majorly interact with one another.
Making a career as a corporate lawyer is quite exciting; however, it is important to know the job profile and the kind of work they are involved in before deciding on the career path. One should also know the difference between a commercial lawyer and a corporate lawyer and the skills and qualifications required to become a corporate lawyer.
What does Corporate Lawyer Do?
A corporate lawyer works on assorted legal issues that are faced by the company due to corporate business practices. They are responsible to handle the business, legal and financial matters for the clients. A corporate lawyer can be in charge of corporate taxes, and oversee mergers and acquisitions for which one requires high skills and qualifications to handle such important matters. One is also responsible for negotiating big and pivotal business deals and agreements. Accounts verification for business transactions is also done by the lawyer. They are also required to represent their client in court whenever required.
Some of the major and key roles that are played by the Corporate Lawyer have been summarized below-
- Designing the legal framework for restructuring the company
- Involved in selling companies
- Selling shares and assets of the companies
- Managing employment law issues
- Collaborating with the companies
- Negotiating contracts and agreements
- Carrying out alliances and partnerships
How to Become a Corporate Lawyer
If you are keen to become a corporate lawyer, then certain steps are needed to be followed to make a successful career ahead-
- Pass Your School
To get admission to a reputed and renowned law school, it is important to pass your class 10th and Class 12th from a recognized board. One can pass class 12th from any stream, be it Science, Arts, or Commerce. Completing these levels is the minimum requirement to pursue a career in Law.
Corporate Law Job Profiles
Candidates who pursue a UG level course in Corporate Law can either pursue a PG level law course with the same specialisation or they can even consider pursuing a job. One of the most popular job profiles after completing a Corporate Law course is to become a Corporate Lawyer.
A Corporate Lawyer helps corporations in their normal functioning and also help firms make important decision like whether they should go in for a suit or not. A Corporate Lawyer needs to ensure that a company functions as per corporate laws and regulations. Tasks allocated to a Corporate Lawyer include preparing documents, assessing partnerships as well as negotiating deals. A Corporate Lawyer may work at a law firm or even as part of a company’s legal team.
- Gain Legal Skills and Make Contacts
The legal profession is highly competitive, and hence it is important to gain practical work experience. This can be achieved through an internship program or a part-time job with a local law firm. With essential work experience and hone important skills like communication, self-confidence, research and persuasiveness and knowledge of the law, and the ability to argue on any given topic. Besides, work- experience allows you to make contacts which later help you to land good jobs with top companies.