Corporate Law as a Career: Scope, Courses, Colleges & Job Prospects
A career in law has attracted youngsters for quite a long time, but today’s budding lawyers are even more drawn towards corporate law as a career. It adds a more lucrative and inviting dimension to their legal journey. Get all the information about this career here.
While a career in law has always attracted youngsters from multiple backgrounds, the budding lawyers of today are even more drawn to corporate law. It adds all the more lucrative and inviting dimensions to their legal journey.
The legal profession has undergone a tremendous change over the last few years. Nowadays, lots of talented students are coming forward to make a career in corporate law, as there are both name and fame along with good income in the profession. With the right skill set, apt choice of law colleges and sufficient legal knowledge, any aspirant can build a strong career in law.
With the opening up of the economy, corporate law has been virtually rewritten. Corporate Law is related to contract and commercial law and deals with the operation and formation of corporations. A Corporate Lawyer basically works for companies or corporations and represents business entities of all types. These include associations, corporations, joint ventures, partnerships and sole proprietorship. Corporate or Business Lawyer also represents individuals who act in a business capacity like Directors, Owners, Managers, controlling shareholders and officers.
Skills Required to Become a Successful Corporate Lawyer
The job of a Corporate Lawyer is embedded with numerous challenges, however, with an adequate skill-set, an aspirant can easily tackle the obstacles. The important skills required to be a Corporate Lawyer have been discussed below.
A successful corporate lawyer should have knowledge of laws issued by government institutes and departments for legal actions and procedures along with different guidelines.
He/she should have knowledge of the latest new rules and regulations of business, corporate law, and company status guidelines.
Further, a Corporate Lawyer should be an expert in skills drafting, and debating and should be an expert in pointing out and highlighting the difficulties of his client to them well in advance to avoid problems well in advance.
An additional advantage would be the patience & perseverance in facing the problems during tough times and trying to excel in these situations.
Corporate Law: Career Scope and Job Prospects
Corporate Law has a great future scope and job opportunities in store for the aspirants. When it comes to salary there is a substantial rise in the salaries of the lawyer with foreign law firms moving into India. A higher salary is never a constraint for a talented corporate lawyer. In the initial stages of the career as a corporate lawyer in any company, an individual can get around ₹1,49,000 per annum package. But after some experience and success, they can get a salary of ₹6,86,000 per annum. Senior Corporate Lawyers in high posts in a company can easily extract a salary package of ₹20,00,000 per year.
Most corporate lawyers work in law firms, be it small or large. They usually help their clients with their corporate cases or handle business transactions based on negotiation, review of contracts, agreements and drafting of the same. They may also work with a company's legal team.
In fact, with joint ventures and foreign collaborations coming in and Contract law gaining increasing importance every year, thanks to increased private sector participation and liberalisation. Securities and banking laws are also gaining importance with the advent of e-commerce as this is an e-age.
There is the tremendous prospect of corporate lawyers down the line. Some of the big accounting firms like PwC and KPMG have opened their own legal departments. Now that global law firms are poised to enter India, the market for corporate lawyers is definitely going to flourish.
Also Read: How is Business Law Different From Corporate Law
Educational Qualification to Pursue Corporate Law
Students can either study law after Class 12th or opt for a 3-year LLB course from a reputed law university after graduation. Integrated 5-year Law courses such as BBA LLB, BA LLB, B.Sc LLB are offered by plenty of universities in India. At the Masters level (LLM), students can choose electives that will lead to a specialization in corporate law. Postgraduate Diploma courses are also available for law graduates interest in the Corporate Law.
Career Progression After Studying Corporate Law
After completing a course in Corporate Law, fresh lawyers can start their career as Junior Associates, but after working there for a few years, they will be promoted to Senior Associates. Let’s take a look at these posts that Corporate Lawyers can work for:
- Junior Associate: They are such type of lawyers that gather information for legal cases and assist their senior attorneys' in forming arguments. The primary roles and responsibilities of Junior Associates are presenting statements, litigating in court, negotiating with clients as well as opposition, helping to form contracts, reviewing agreements and changing drafts. The Junior Associates work really well in a team environment with minimal supervision.
- Senior Associate: As Senior Associates, these lawyers manage litigation cases while resolving legal issues on behalf of their clients by developing agreements, negotiating contracts, advocating for their clients and setting claims. They can work for corporate law, divorce cases, civil rights, etc. Senior Associates can work under more experienced people for getting support and assistance such as performing legal research for certain cases.
Corporate Law Average Course Fee
The average fee for an undergraduate course in Corporate Law may range somewhere between ₹1,00,000 to ₹11,00,00 for three years. Candidates applying for five-year integrated law courses may have to pay a course fee of around ₹1,00,000 to ₹3,00,00 per year. However, the fee may vary from institute to institute.
Corporate Law Subjects and Syllabus
Corporate Law is quite popular among law aspirants and in every session, students are taking up Corporate Law as their specialisation. To study Corporate Law, candidates should know the subjects that are taught in this course and the syllabus that candidates have to study. We have provided the syllabus for Undergraduate, Postgraduate and Diploma courses.
Undergraduate Courses | |
Law of Contracts I | Legal Method & Legal Reasoning |
Fundamentals of Moot Court | Legal Language and Legal Writing |
Torts & Consumer Protection Act | Trial Advocacy |
Family Law | Constitutional Law |
Law of Crimes (IPC) | Client Counselling, Drafting and Conveyance |
Civil Procedure Code and Limitation Law | International Investment and Trade Law |
Corporate Financial & Securities Market Regulations | Mergers & Acquisition |
Right to Information Environmental Law | International Commercial Arbitration and Competition Law |
Postgraduate Courses | |
Research Methodology | Comparative Public Law |
Investment Law | Regulatory Economics |
Principles of Taxation | Corporate Governance |
Law and Justice in a globalising World | Law and Finance |
Project Finance, Securities & Finance Markets | Competition Law and Corporate Reconstruction |
Diploma Courses | |
Business and Commercial Law | Corporate Accounting and Corporate Taxation |
Company Law and Practice | Law of Contracts |
Corporate Law | International Economic Law |
Consumer Protection Act, 1986 | Competition Act, 2002 |
Corporate Restructure Law | Corporate Finance Law |
Dispute Resolution Law | Laws Related to Banking |
Corporate Governance | Intellectual Property Law |
Research Methodology | - |
Top Colleges in India for Corporate Law
Some reputed colleges where students can pursue Corporate Law are mentioned below.
Institute | Location |
Kolkata, West Bengal | |
Visakhapatnam, Andhra Pradesh | |
Pune, Maharashtra | |
Jaipur, Rajasthan | |
Sonipat, Haryana | |
Ludhiana, Punjab | |
Jaipur, Rajasthan | |
Dehradun, Uttarakhand | |
Navi Mumbai, Maharashtra | |
Gandhinagar, Gujarat | |
To take admission in any of the aforementioned or desired law college, you can either dial 1800-572-9877 or fill the Common Application Form. If you are not sure about which career is suitable for you, you can take the Career Profiling Test. It will help you in finding out the best career for you as per the Aptitude, Personality and Interest.
Also Read: Private Colleges in India Offering Scholarships for Law Admission: Eligibility and Waiver Amount
In case of any queries, you can also write to us in the QnA zone.
Stay tuned to CollegeDekho to explore the world of law.
Get Help From Our Expert Counsellors
FAQs
What are the disadvantages of studying Corporate Law?
A Corporate Lawyer only advises the firm to act in specific ways, but he or she does not possess the authority to make decisions. The job of a Corporate Lawyer can be stressful and exerting with a possibly complicated schedule. Corporate Lawyers face competitive job market situations, along with changes in corporate laws and technological advancements. These Corporate Lawyers have to be updated to stay relevant. Corporate lawyers must be able to write clearly, persuasively, and concisely, as they are required to produce multiple legal documents.
What is the job of a Corporate Lawyer like?
A Corporate Lawyer has a complex and diversified work schedule. According to the advice or recommendations of the lawyer, a company’s decisions may be influenced, so he or she may have to work under intense pressure. The Corporate Lawyer also advises and helps the Board to take appropriate actions for legal cases under which the company is charged. His job involves both indoor and outdoor activities. When indoors, they interact with the Board of Directors, and when outdoors, they meet the company’s clients for deal closure and also in courts for case hearings. There might be one or multiple Corporate Lawyers in a company depending on their field of specialization. If the work involves knowledge about a particular field of corporate law, that specialized lawyer will be called up to give his valuable decisions.
What will candidates do if they don’t make a career out of Corporate Law?
If a career as a Corporate Lawyer does not work out for a person, there are other options available with the same credentials. One such option is working as a private tutor, disseminating corporate law knowledge to interested students in classes or through video lectures. A person who has studied corporate law can become a professor or a corporate law research scholar. Or, they can even author books on corporate laws. If a person cannot work in a corporation, he or she can open a consultancy or advisory firm, sharing corporate law advice with needy clients.
How should the workplace be for Corporate lawyers?
Corporate lawyers can find both permanent and contractual jobs according to their requirements and skills. There are multiple corporate lawyers who work for government agencies. Individuals who opt for a career as a corporate lawyer working for non-profit organizations. These lawyers have to work under certain shifts or circumstances, they are required to work in harmony with the requirement of their case. Sometimes, it is seen that corporate lawyers are required to expand their work schedule to weekends.
What are some of the advantages of becoming a Corporate Lawyer?
Those who become Corporate Lawyers hold high respect in society. These people are dynamic as they handle a variety of business issues and possess distinct qualities. In a law firm, a Corporate Lawyer is considered one of the highest-paid employees. Candidates who study Corporate Law attain relatively better job security and with perseverance, they can do well in their profession. This is a profession in which a Corporate Lawyer gets time to look for a job elsewhere if he or she wants to resign from the current job role in a firm.
Which top colleges offer the corporate lawyer degree?
There is no shortage of law colleges in India that offer corporate law. The top colleges that offer the corporate lawyer degree are The West Bengal National University of Juridical Sciences, GITAM University, Symbiosis Law School, Vivekananda Global University (VGU), O.P. Jindal Global University, Jindal Global Law School, CT University (CTU), Apex University, University of Petroleum and Energy Studies, Chhatrapati Shivaji Maharaj University (CSMU) and Karnavati University (KU). Indian law colleges are quite popular globally as they provide world-class education, facilities and placement assistance.
What are the qualifications needed to become a corporate lawyer?
To become a corporate lawyer, candidates must have a degree or professional qualifications in accounting, law, accountancy, business or public administration. Aspirants need to have appropriate experience in business in these fields like insurance, accounting and credit management. Those who have completed Class 10+2 or equivalent degree need to have 50% from a recognised board. The applicant has to register with the Indian Institute of corporate lawyers to follow the course and receive the corporate lawyer degree.
What is the course fee for studying corporate lawyers?
The average course fee for the undergraduate programme in Corporate Law varies from ₹1,00,000 to ₹11,00,00 for three years. Candidates applying for five-year integrated law courses may have to pay a course fee of around ₹1,00,000 to ₹3,00,00 per year. However, the fee may vary from institute to institute. Before taking up the corporate law degree, candidates need to know the course fee.
What are the different types of corporate lawyers?
The various types of corporate law careers are Civil Litigation Lawyer, Legal Analyst, Document Drafting Lawyer, Legal Journalist, Legal Advisor, etc. Civil litigation lawyers also known as litigators, or trial lawyers are liable for representing suers in civil lawsuits. A legal analyst's job is to perform legal research, assemble legal research, maintain databases and tracking systems, and track, organize, assess, etc. A document drafting lawyer is a professional who deals in criminal, civil litigation and other legal proceedings. Legal journalists are professional journalists who research, collect information and report information to the general public in a variety of media.
What are the skills required to become a corporate lawyer?
To become a corporate lawyer, candidates should have knowledge of laws that are issued by government institutions and departments regarding legal actions, the latest rules and regulations of business, corporate law, company status guidelines, etc. A Corporate Lawyer should have expertise in skills drafting, and debating and should be an expert in pointing out and highlighting the difficulties of his client to them well in advance to avoid problems well in advance. Candidates should have patience and perseverance to start a career as a Corporate Lawyer.