Posted on Friday, May 6, 2011
If business laws, mergers and acquisitions, handling bankruptcy, antitrust claims interest you, then a career in corporate law is jus for you! With increasing globalisation and privatisation, a career in corporate law is turning out to be the preferred choice for students. But if you think that corporate lawyers work in swanky offices, wear power-suits, meet high profile clients and take away hefty pay packets, you are only aware of half the truth. A closer look will reveal that there are tasks aplenty to be accomplished. Before you think of going ahead in this field, it will help to have a clear and grounded idea of what their work entails.
After 10+2, a student has two options. One is to do the five-year integrated course, offered by the top law institutes in the country. At the end of five years, he becomes a lawyer. The second option would be to do a graduation in any stream and then go for the three-year law course. At the end of six years, he becomes a qualified lawyer. Apart from the educational qualifications, a corporate lawyer needs to be hardworking, diligent and possess excellent analytical, problem-solving and communication skills.
Plethora of options
”As a junior corporate lawyer you have to do everything from drafting contracts, preparing filings, memoranda, preparing security disclosure statements, conducting due diligences and so on,” says a legal analyst of TCS. A corporate lawyer is required to work in the legal department of business companies. From handling labour issues, employee rights, amalgamations, splits, there is a wide variety of work that is expected of him. The onus of ensuring the legality of commercial transactions is his. In short, his work can be divided into three spheres. One would be advising the business on legal issues. Second, drafting all the contracts and allied business documents; and third, ensuring compliance with the laws and regulations of the company. His work starts right from the formation of a corporation to its dissolution. Since they cover a broad range of topics, corporate lawyers often specialise in more than one area. These include tax law, bankruptcy, intellectual property etc.
A fresher can expect to earn anything between Rs 3 to 12 lakh per anum. The scale goes higher depending upon the educational background of the individual and the organisation she/ he is working for. Agnishwar Banerjee, legal manager at a global MNC says, “Corporate law in general has immense potential given the liberalisation of the economy and global investors’ preference of India as an investment destination. The working hours are long and may not be glamorous but there is a thrill in knowing the fact that your work and actions impact the corporate landscape of the country.”
Symbiosis Law School, Pune
West Bengal National University of Juridical Sciences
National Law School of India University, Bangalore
National Law Institute University, Bhopal
National Law University, Jodhpur
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