Ranjana Kakodkar
With globalisation, business has become fiercely competitive and so often treads on each other’s toes, contravening agreements, side stepping contracts, overlooking patents, ignoring trademarks…
Corporate lawyers come into play whenever any of the parties involved cries foul - which is very, very often, indeed - to advise their corporate clients, to argue their cases in court, draw up business contracts for them and so on. Corporate law defines the rules of the game for business corporations.
With existing businesses growing in size and a large number of new business enterprises opening shop each year, corporate lawyers are on a growth flight which is likely to last several decades.
While till some time ago, only major companies transacted international business, even small players are now involved in foreign transactions necessitating the services of corporate lawyers who are well-versed with International law.
The big emerging trend in law is to move away from solo legal practice to well-organised law firms comprising several or even several dozens legal eagles working together as one entity, offering a full range of legal expertise. While the number of law firms in India is still relatively small - and the solo legal practitioner is not about to disappear anytime soon - the trend towards law firms is unmistakable. And for those aiming for career in corporate law, it might be a good idea to look at law firms because corporate clients are more likely to deal with legal firms rather than individual lawyers. Corporations feel more comfortable dealing with other companies.
In case you choose to set up your own practice, you’ll first need to learn the ropes under a senior advocate or, of course, in a law firm. Cultivating the art of ’intelligent’ listening, sifting the grain from the chaff, counselling, negotiating and writing/drafting are absolutely vital for a successful lawyer.
Reputation is what clients go by in the legal profession and that has to be earned. It rarely comes easy or fast.
The legal profession has undergone a sea change over the last decade; especially in the field of corporate law as the rules governing companies have been virtually rewritten with the opening up of the market in the last decade.
The changing face of corporate law is increasingly catering to the specific requirements of each organisation - large or small. If you can figure out the core functions of an organisation, you can tailor the generic law to suit their requirements.
Corporate lawyers advise corporations on their legal rights and obligations. Very few matters actually come to the court. Multi-crore suits have changed the outlook of the game, making corporate law a popular and lucrative career option
You can either study law straight after Class 12 or opt for a 3-year LLB course from a reputed university after your graduation. Integrated 5-year Law courses (BA LLB) are offered at over 50 universities in India.
At the Masters level (LLM), you can choose electives that will lead to a specialisation in corporate law. Postgraduate Diploma courses are also available for law graduates.
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