Being a responsible Indian citizen, one must be aware of their country’s law. Like the different sectors of society, there are various branches of law. The word ‘law’ is short to read but the meaning is too deep to dig. Working as a corporate lawyer can be a fulfilling and lucrative career path. You must study for many years, so be prepared for hard work and sacrifice. You get qualified, gain experience, continue your professional development and then complete your specialization in corporate law.
What is Corporate Law?
The knowledge of legal practices related to companies and corporations is corporate law. It deals with the laws that govern different elements of companies and organizations. A Corporate Lawyer’s job entails using legal knowledge to review corporate agreements, corporate taxes, import and export, mergers and acquisitions, joint ventures, public offerings, sole proprietorships, partnerships, corporate structure agendas, employment law, government reporting, and laws governing daily business operations.
DIFFERENCE BETWEEN CORPORATE LAW AND LITIGATION:
Who are Litigation lawyers?
Litigation attorneys represent plaintiffs and defendants in civil cases. They are often known as litigators or trial lawyers and oversee the litigation process. From inquiry, pleadings, and discovery to pre-trial, trial, settlement, and appeal.
Who are corporate lawyers?
Corporate attorneys are lawyers who work for a legal firm that focuses only on business law. A litigation lawyer’s income gets determined by the number of clients he has. A corporate lawyer working in a legal firm gets paid a set monthly payment. To work as a corporate lawyer, you must first join a legal firm that specializes in commercial law.
Work of a corporate lawyer
A corporate lawyer’s job is to guarantee that business transactions are lawful. They advise corporations on their legal rights and responsibilities, such as the duties and responsibilities of corporate officials. To do so, they must be familiar with parts of contract law, tax law, accounting, securities law, bankruptcy, intellectual property rights, licensing, zoning regulations, and law particular to the businesses for which they work.
Skills required to become a great Corporate Lawyer:
To be a competent corporate lawyer, you will need strong communication skills, arithmetic ability, general and business knowledge, research abilities, drafting skills, and, most all, a desire to learn and develop. It is also necessary to have a working knowledge of Company Law and other related legislation.
To be eligible to become a corporate lawyer, one must be a graduate in any subject for a three-year LLB course or 10+2 for a five-year integrated BA-LLB degree. After earning a bachelor’s degree in law, ambitious lawyers can pursue specialized qualifications in Corporate Law or pursue a master’s degree in Corporate Law, such as the LLM Corporate Law.
CORPORATE LAW IN INDIA
It’s a great career choice. The Indian economy has enticed private companies to invest in the subcontinent since 1991. In the present day, the PM is giving industrialists the red-carpet treatment at the World Economic Forum. India’s ease of doing business score is also increasing. Corporate, environmental, and intellectual property (IPR) laws are growing employment possibilities considering the current circumstances. If you are interested in corporate law, be sure to get registered with SEBI. Many corporate lawyers also examine stock market scams.
The objective of corporate law
The objective of corporate law generally involves overseeing all legal and external affairs matters like litigation, investigations, compliance, mergers and acquisitions, contract matters, and international trade issues. Corporate lawyers have tasks like safeguarding the legality of commercial transactions, representing companies and advising corporate employees of their legal rights and duties. It generally focuses on how corporate, and companies interact externally through commercial transactions and internally through corporate governance.
The scope of corporate law in India
Corporate law is a potent and versatile option in the field of law. Both the government and private sector have ample opportunities in corporate law. The demand for corporate lawyers is increasing day by day. A lawyer can choose any area of practice in corporate law and excel at it. After pursuing a degree in corporate law, a lawyer can work at an MNC, law firm, asset management company, banks, insurance companies, etc.
The corporate sector in India has witnessed immense growth at a very rapid speed. Currently, the corporate sector is the backbone of the Indian economy. It is contributing around 53% of the Indian GDP. The career and growth opportunities in this sector are ample. That is why more and more young aspirants are opting for this profession.