What is corporate law?
(Corporate law is also referred as Corporation Law & Company Law)
Corporate law is a powerful and versatile career option which entails all qualities requisite to make it an over-the-top career option. Government sectors as well as private sectors have a plenty of opportunities of job. As a matter of fact, one can get job opportunities in companies, law firms, banks and many more places. Corporate sector of India has undergone immense growth at a very rapid speed. On studying the current situation, the corporate sector is the backbone of the Indian economy and is contributing around 53% of the Indian GDP.
What is the objective of corporate law as a subject?
The main objective of corporate law largely involves looking after all legal and external affairs matters including litigation, investigations, compliance, mergers and acquisitions, contract matters and international trade issues. In general, it focuses on how corporate and companies interact externally through commercial transactions and internally through corporate governance.
What does a corporate lawyer do?
Corporate lawyers serve only one client that is, the corporation that they work for. A corporate lawyer is usually called upon to handle a variety of legal tasks including corporate taxes, mergers and acquisitions, corporate structure issues, employment law and government reporting. They need to have thorough knowledge in wide ranges of legal fields and will need to be able to handle a large number of issues. Being a corporate lawyer is somewhat same as being a businessperson. They have to write contracts to buy and sell stocks and products. They are tasked with safeguarding the legality of commercial transactions, representing companies and advising corporate employees of their legal rights and duties. They borrow and lend money as well. At times, certain corporations hire multiple lawyers and each will be a specialist in one or two areas of corporate law.
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Courses of Law offered in India:
There are various law specialization courses that one can choose as per interest, namely
1. B.A L.L. B: The B.A. LL. B is one of the most preferred choices of the law aspirants, this is an integrated course for the duration of 5 years. The students can opt for this after their successful completion of class 12th.
2. L.L.B.: L.L.B is a 3 year course in law which can be followed up after successful completion of graduation from a recognized board or university.
3. L.L.M: The postgraduate course in law. Candidates are eligible for this after the completion of B.A. L.L.B or L.L.M.
Some other specialization courses that one can choose after completion of class 12th or graduation are as follows:
1. Criminal Law
2. Civil Law
3. Corporate or business Law
4. Cyber Law
5. Administrative Law
6. Labour Law
7. Patent Law
8. Currently, we are focusing on Corporate law.
What eligibility criteria make you a successful corporate lawyer?
In order to be a corporate lawyer, the aspiring candidate should be a graduate in any discipline for joining 3 years L.L.B Course or 10+2 for joining an integrated course of 5 years of B.A. L.L.B.
After getting a Bachelor's of law Degree the aspiring candidate can go for specialized qualification in Corporate Law or get admitted into any recognised institution for a master's degree like L.L.M Corporate Law.
Along with the above mandatory eligibility criteria, a student must have the following qualities:
1. Excellent writing and comprehension skills.
2. Critical analysis of an issue and clear articulation of your position with adequate supporting evidence.
3. Capable of reading, doing a research and process large amounts of information.
4. Certain courses are usually considered that include history, economics, political science, philosophy and English.
5. In short, you must have good communication skills, numerical ability, business awareness, responsibility, analytical thinking, researching skills, confidentiality.
Entrance tests to appear in order to get into this firm:
CLAT (Combined Law Aptitude Test) – The test format includes critical thinking and reasoning ability.
Other all India tests conducted by different Universities/ Law Colleges which students can take are:
1. LSAT (Law School Admission Test)
2. AILET (All India Law Entrance Test)
4. BHU Law
5. JMI Law entrance
10. AMU Law Entrance Exam
11. AP Law CET (Andhra Pradesh Law Common Entrance Test)
12. TSLaw CET (Telangana State Law Common Entrance Test)
13. CU SAT CAT Law
14. PU LLB Entrance
15. BVP CET Law
16. AIBE (All India Law Entrance Test)
Top Colleges :
1. National Law School of India University, Bengaluru
2. Government law college, Mumbai
3. University of Delhi
4. Symbiosis Law School, Pune
5. National Academy of Legal Studies and Research, Hyderabad
6. National Law Institute University, Bhopal
7. West Bengal National University of Juridical Sciences, Kolkata
8. Ram Manohar Lohia National Law University, Lucknow
9. Rajiv Gandhi National University of Law, Patiala
10. Faculty of Law, University of Delhi
11. Banaras Hindu University, Varanasi
12. NALSAR University of Law, Hyderabad
13. Gujarat National Law University (GNLU)
14. Symbiosis Society's Law College (SSLC), Pune
15. National Law University, Jodhpur
16. ILS Law College, Pune
17. Amity Law School, Delhi
18. Aligarh Muslim University, Aligarh
Recruitment and job scope:
There is a plethora of job opportunities available in government and private sectors as well. After successful achievement of degree in corporate law, one can get job placements in law firms, insurers, banks, asset managers, etc.
If interested in teaching field, you can be appointed as a Teacher or Lecturer in colleges or universities after completion of the master’s degree in corporate law.
Some of the top law firms in the country are as follows:
2. Oil India Ltd
3. ICICI Bank
4. Taxman Publishers
5. Standard Chartered Bank
6. Amarchand Mangaldas
7. AZB & Partners
8. J Sagar Associates
9. Khaitan & Co
10. Luthra & Luthra
12. Desai & Diwanji
13. Singhania & Partners
14. Titus & Co
15. Wadia Ghandy & Co
16. Lakshmi Kumaran & Sridharan
17. Economic Laws Practice
18. Vaish & Associates
Depending on the size, location and financial condition of the employer, in most cases, a corporate lawyer’s salary will start somewhere between $30,000 and $100,000 a year,
In India, a corporate lawyer working in the ‘large’ private corporate house can expect anything near about Rs.1,00,000 per month to start with. However, the financial success of a corporate lawyer working in the private sector primarily depends upon his or her experience and knowledge in the field.
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