Corporate lawyers needed

Corporate lawyers needed

THE BIRTH OF POWERFUL AND AGGRESSIVE DOMESTIC CORPORATIONS HAVE CREATED A NEED FOR CORPORATE LAWYERS IN INDIA

ACROSS the globe, there has been a distinct rise in the number of students who take up law as a profession, making this third wing of the democratic system, one of the most sought-after careers.
   Still, the image of lawyers as people wearing black coats, hanging around musty civil courts waiting for work, prevails. In reality though, lawyers today are not only making news, they are also making more money than ever before.

WHAT IS CORPORATE LAW?

Vineet Budhiraja, who has just completed an LLM in Competition Law from the University of London, explains,"Corporate law connotes law of companies or corporations. It deals with all matters, from the birth of companies to their dissolution. Corporate law has wide scope in terms of legal practice, as it includes issues related to floatation of companies, corporate restructuring, and corporate governance, among others. Most law firms organise themselves into different practice groups or departments."
   As a corporate lawyer, you need to be commercially oriented, as well as have a good understanding of the law. Hence, understanding your clients' businesses and the industry sectors is essential.
   Prateeksha Toshniwal, a practising corporate lawyer, shares,"A corporate lawyer's client base is very varied and typically includes entrepreneurs, privately owned businesses, as well as large multinational corporations like pharmaceutical giants Glaxo-SmithKline and BP.Most corporate lawyers also act for a range of financial institutions, including high street banks and investment banks."

JOB RESPONSIBILITIES

Budhiraja explains,"The corporate department in some firms tend to include commercial law elements as well, ie, activities like drafting and negotiating commercial agreements. On the other hand, some firms may classify commercial activities as a separate department.The best way to look at it is that corporate law is a generic term that encompasses all the business activities of a corporate." However, the key responsibilities of a corporate lawyer include -

• Due diligence

• Research and writing memos

• Contract drafting and review

• Formation and housekeeping of corporate entities

• Preparing filings for state and central agencies

LAWFUL ENTRY

You can study law after class XII with any subject, and take up the integrated five-year BA LLB programme, or opt for a three-year LLB course after graduation in any subject.
   The integrated five-year law course (BA LLB) is now offered at over 50 universities in India. For a five-year course, candidates need to have completed class XII with a minimum of 55% and appear for an entrance exam conducted by the university or institute.There is an all-India entrance test for admission to the five-year degree course, which comprises a test in English, numerical aptitude, general knowledge and aptitude for legal studies.
   Some colleges are also offering a BSc LLB in place of a BA LLB which is a slightly more specialised yearlong degree programme.