Learn What Corporate Law Is

Corporate Law governs the rights, relations as well as to conduct of businesses, organizations, companies, and people. It is sometimes even referred to as Company Law/ Enterprise Law/ Business Law, however, if you evaluate each closely then there are some differences among each of them. 

Corporate Law describes the laws that are related to the life-cycle of a corporation and thus it includes the formation, ownership, governance, funding, and closure of a company/corporation. 

It includes the rules that regulate how investors, employees, corporations, creditors, shareholders, directors, and other stakeholders which include community, consumers, and the environment interact with one another.

It also includes the study of legal practices that are applicable to businesses and corporations. It relates to laws that determine various aspects of businesses and corporations.

What does a Corporate Lawyer do? 

Corporate Lawyers are people who are experts in commercial law. Corporate lawyers are tasked with ensuring that a company's transactions are in compliance with corporate laws and regulations. Corporate Lawyers may work at a law firm or even as part of a company's legal team. 

The career of a Corporate Lawyer requires one to incorporate the application of legal knowledge to prepare:

1. Corporate agreements
2. Corporate taxes
3. Import and export
4. Joint ventures
5. Mergers and acquisitions
6. Public listings
7. Partnerships
8. Corporate structure agendas
9. Sole proprietorship
10. Employment law
11. Government reporting
12. Laws controlling day-to-day business operations

Corporate Lawyers are legal experts in different areas which include tax law, bankruptcy, intellectual property, and zoning or securities. 

A Corporate Lawyer can work for a large or medium-sized firm. A Corporate lawyer usually counsels clients as well as 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 and acquisitions, etc.

Why Corporate Law is a good career option? 

Corporate Law as a field has many specializations which include corporate finance and refinancing, insolvency & bankruptcy, intellectual property rights, corporate restructuring, international capital markets, mergers and acquisitions, corporate litigation, private equity and venture capital transactions, and real estate.

Salary Offered to Corporate Lawyers

The job profiles under which Corporate Lawyers are hired and their average salary is mentioned below:

Job Profile	Average Salary (in Rs. Lakhs)
Legal Manager	7.52
Legal Counsel	8.40
Legal Advisor	3.06
Associate Attorney (Legal Firm)	9.61
Corporate Legal Manager	17
Legal Support Officer	3.11
Legal Services Chief	22

The salary mentioned above package contains approximate numbers and the actual one may vary as per the aptitude, work experience, qualification, practice, and skills of an individual. A lot also matters on the college from where one has earned their law degree.

Who should do Corporate Law? 

The skills that one needs to possess in order to be successful in the field of Corporate Law are mentioned below:

1. Excellent verbal and written skills
2. Communication skills or interpersonal skills
3. Analytical ability
4. Researching skills
5. Good foresight
6. Persuasive/ convincing skills
7. Team player
8. Organized
9. Patient
10. Pertinent legal knowledge
11. Numerical ability
12. Sound judgment
13. Time management skills
14. Negotiation skills
15. Ability to maintain confidentiality
16. Stress management
17. Tech-savvy
18. Ability to understand the prevailing business scenario
19. Predict the upcoming business trends as well as changes

On average, it can take around 3-5 years of practicing Corporate Law in a corporation/ firm/ self-employment to becoming successful as a Corporate Lawyer. 

How to choose the right Corporate Law course? 

The eligibility criteria for pursuing a Corporate Law course may vary from one college to the other. Candidates who want to apply for a five year integrated course with Corporate Law as a specialization meet these for the course if they have completed their Class 12 or equivalent exam from a recognized board with passing marks.

The eligibility criteria for a Corporate Law course that is offered at the PG level is such that candidates should have completed a five-year integrated law course or possess an LLB or equivalent degree.

How to choose the right Corporate Law course?

1. End result of the course (degree/ diploma/ certificate)
2. Who is awarding the degree/ diploma/ certification
3. Duration of the course
4. Topics taught in the course
5. Is placement offered on completion of the course?
6. What is the course fee?

What is a day in the life of a Corporate Lawyer?

A Corporate Lawyer may have a diversified work schedule. A company’s decisions are influenced by the advice or recommendations of a corporate lawyer and so they are known to work under intense pressure. A Corporate Lawyer is tasked with the responsibility to legally guide the Board of Directors in their decision-making process in order to ensure that they comply with all the relevant laws of the Company Act and the Amendments.

The Corporate Lawyer helps the Board to take appropriate actions for legal cases of the company. A Corporate Lawyers job involves both indoor as well as outdoor activities. Indoors, the lawyer interacts with the Board, and outdoors, they meet clients for deal closure and also in court for case hearing. 

What are the behavioral traits for making a career in Corporate Law?

Candidates who want to pursue Corporate Law as a course and career option should be extremely hard-working and understand the nitty-gritty of the corporate world. Some key skills that an aspirant should possess in order to be successful in the field of Corporate Law are listed below:

Clarity of speech	Fluency
Good at written communication	Possess good analytical and logical reasoning
Good at research	Possess knowledge of technology
Knowledge of substantive law and legal procedure	Good time management skills
Ability to work in a team	Good organizational skills
Ability to work long hours	Possess objectivity
Good convincing power	Good presentation skills
Good judgment of situation/ people	Persuasiveness
Hard-working	Confidence
Intellectual	Ability to assimilate and analyze facts

What are the problems on which Corporate Lawyers work?

Corporate lawyers work to safeguard the legality of commercial transactions, representing corporations as well as advising employees on their legal duties and responsibilities. 

Job titles pertaining to Corporate Law

Job titles under which Corporate Law graduates are hired to correspond to the level of the course pursued by an individual. For instance, an advanced course is taken by medium/senior professionals while a beginner level course by an entry-level professional. Some job profiles where Corporate Law graduates are hired include. 

1. Legal Manager
2. Legal Counsel 
3. Legal Advisor 
4. Associate Attorney (Legal Firm) 
5. Corporate Legal Manager 
6. Legal Support Officer 
7. Legal Services Chief  

In what types of industries, companies, and roles are Corporate Lawyers hired?

Corporate law is a very powerful and versatile option in the field of law. Both the government and private sector have ample opportunities for a career in corporate law and the demand for corporate lawyers is increasing day by day.

The industries in which Corporate Lawyers are in huge demand include MNCs, Banks, Insurance Companies, Law Firms, and Asset Management Companies. 

Corporate Lawyers work in 

1. Law firms
2. Corporate litigation
3. In-house counsel
4. Regulatory bodies: Securities and exchange board of India (SEBI), Reserve Bank of India (RBI), Insurance Regulatory and Development Authority of India (IRDAI), Competition Commission of India (CCI), and Pension Fund Regulatory and Development Authority (PFRDA)

Spheres in which Corporate Lawyers can work include: 

1. Corporate restructuring
2. Insolvency & Bankruptcy
3. Refinancing
4. Compliance (In-house counsel, Counseling for publicly held companies
5. Counseling for privately held companies
6. Counselling for business start-ups and joint ventures)
7. Corporate litigation
8. Intellectual property rights
9. International capital markets
10. Banking and finance
11. Private equity and venture capital transactions
12. Real estate sector