It is difficult to choose a specialisation, especially when it comes to a vast field like law. VIPUl MAHESHWARI gives you the various possibilities one can choose to pursue if they make corporate law their specialization
It is integral for every individual to have a career goal and a profession in his life. lawyers are often thought of as being less fortunate because people assume that all they have is a dingy office in a corner of the courtroom and nothing better to do than simply debate over issues. However, that is far from reality. The law profession has undergone a 360 degree change and has transformed beyond the myths it was once associated with it.
Corporate law in particular is offering such avenues that many are switching towards the profession entirely. This refers to the interaction between employees, directors, shareholders, vendors, creditors, customers and many more. It focuses on interactions made in the corporate community, a large part of corporate culture, and is closely related to commercial law and contracts. It ideally deals with operations and smooth running of an organisation.
A corporate lawyer is usually appointed by companies and corporate houses where he will have to represent every entity pertaining to joint ventures, associations, sole proprietorships, partnerships and corporations. An individual who might be driven towards problem solving, especially concerned with business dealings, will enjoy this work and be inclined to take it up as a full time profession.
A professional in this field needs to be extremely knowledgeable on the accounts of bankruptcy, tax laws, security laws, intellectual property rights, contracts and more.
Securities law: Securities law is an extremely intricate area usually requires the services of a specialist. lawyers who acquire this specialty are involved with the formation, organisation and financing of corporations through securities such as stocks, as well as mergers, acquisitions, and corporate takeovers.
Intellectual Property law: This involves knowledge and application of laws governing copyrights, patents, trademarks and trade secrets. It focuses on protecting the rights of inventors, authors and businesses to their tangible and intangible creations, inventions and symbols. legal professionals in this field are often experts in a particular domain, such as science, arts or an industry.
Real Estate law: This law involves land or construction ownership, development litigation, tenant rights or landlord disputes. Attorneys in this field may work on residential or commercial transactions, review contracts or work in planning in the related field.
Competition law: This is a law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. It is implemented through public and private enforcement. Competition lawyers work on ad-hoc queries advising clients on trading and compliance matters. They also defend companies accused of price fixing in secret cartels.
Bankruptcy law: Bankruptcy lawyers’ work is to file for bankruptcy to help you get out of debt. There are different subsets of bankruptcy lawyers who represent the debtor (the person or company filing for bankruptcy) and the creditor (the ones who are owed money by the debtor and are trying to recover as much of their money as possible during the bankruptcy). This further has internal specialisations.
Merger and Acquisition law: A merger or acquisition is when one corporation is completely absorbed by another corporation. The less important company loses its identity and becomes part of the more important corporation, which retains its identity. Federal and state laws regulate mergers and acquisitions.
Tax laws: Tax law is a dynamic field that deals with domestic and international transactions. It covers the rules, policies and laws that oversee the tax process, which involves charges on estates, transactions, property, income, licenses and more. Tax law specialists are often employed in consultative roles, and may also be involved in litigation.
Ideally an educational qualification is not the only requirement for a corporate lawyer. He/she needs to acquire certain skills that will not only be beneficial for a case or two but lifelong.
Interning with a well established law firm will be fruitful as learning the skills and tricks of the trade at an initial stage from superiors and experienced mentors is a step higher on the ladder to success.
The writer is managing partner, Maheshwari and Co, advocates & legal consultants