As India continues its stride towards becoming one in every of the foremost powerful markets in the world, the legal aspects of corporate culture are now more relevant than ever. Because the market works on an ever-increasing expansion it accounts for more laws and safeguarding of these laws by the business. Corporate lawyers thus become a significant instrument within the working of this method as they concentrate on the laws per company/organization/businesses, etc.
A couple of decades ago, the law was just a default career with some joining law colleges as a precursor to a political or civil services career. With the opening of national law schools across the country, it’s becoming a career of choice for those who wish to specialize in corporate law or in litigation. The globalization of the economy and its ascent has also contributed to the exceptional growth of corporate law, both in-house counsel and in law firms as an honest career opportunity.
What Corporate Lawyers do?
Corporate lawyers provide legal guidance to employers and clients. Corporate lawyers serve only one client – the corporation they work for. As a company lawyer, you’ll be called upon to handle a spread of legal tasks including corporate taxes, mergers and acquisitions, corporate structure issues, employment law, and government reporting. Corporate lawyers will generally be knowledgeable in a very big selection of legal fields and can be ready to handle an oversized number of issues. Some corporations will hire multiple lawyers and each is a specialist in one or two areas of corporate law.
Skills required
Besides, a sound knowledge of the company and mercantile law, analytical ability, attention to detail, and negotiating skills are a number of the key qualities that are required to become a successful corporate lawyer. As a company lawyer, it is important to attain work-life balance, understanding business, and financials, and trying to remain relevant and updated on all important matters. However with experience and time the remuneration increases. Since trends, practices, and law change constantly, the importance of reading and keeping updated with the profession can not be overemphasized.
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Eligibility criteria to become a Corporate Lawyer
To become a company lawyer, one must get a degree in law by usurping a five-year Bachelor of Law(B.A. LL.B) degree course after completing their higher secondary education(Class 12), or by pursuing the three-year B.A. LL.B after obtaining a degree in any discipline. To be admitted into a LAW school in India, you will be liable to appear for an exam called the Common Law Admission Test( CLAT).
The next step is selecting an honest graduate school. Going to a top grad school is sort of competitive, but it offers the advantage of higher faculty, infrastructure, and education. Graduating from a decent school of law also will give your career a footing by improving your job prospects, so prepare well for the admission test. While selecting the law schools have a look at their placement record and speak to students and school at the University to establish if it’s the proper school/college for you. After obtaining a B.A. LL.B, you’ll be able to practice as a lawyer. To focus on corporate law, it should be an honest idea to pursue a post-graduate degree or diploma courses incorporate or business-related law.
Top 10 Law Colleges in India (NIRF 2020)
- NATIONAL LAW SCHOOL OF INDIA, BANGALORE, KARNATAKA.
- NATIONAL LAW UNIVERSITY, NEW DELHI, DELHI.
- NALSAR UNIVERSITY OF LAW, HYDERABAD, TELANGANA.
- INDIAN INSTITUTE OF TECHNOLOGY, KHARAGPUR, WEST BENGAL.
- NATIONAL LAW UNIVERSITY, JODHPUR, RAJASTHAN.
- THE WEST BENGAL NATIONAL UNIVERSITY OF JURIDICAL SCIENCES, KOLKATA, WEST BENGAL.
- GUJARAT NATIONAL LAW UNIVERSITY, GANDHINAGAR, GUJARAT.
- SYMBIOSIS LAW SCHOOL, PUNE. MAHARASHTRA.
- JAMIA MILLIA ISLAMIA, NEW DELHI, DELHI.
- THE RAJIV GANDHI NATIONAL UNIVERSITY OF LAW, PATIALA, PUNJAB.
Video on How to Get Admission in National Law Colleges in India [NLUs]-
CLAT exam is conducted every year for the students to accomplish their dreams and get selected in top colleges to pursue law. The questions are particularly from five different subjects ENGLISH, GENERAL KNOWLEDE & CURRENT AFFAIRS, ELEMENTARY MATHS, LEGAL APTITUDE, and LOGICAL REASONING.
Remuneration
A corporate lawyer from the initial period of his career gets paid highly. The salary of a company lawyer in Government enterprises is fairly good and it keeps on increasing with time and skills as and when the government the pay commission is revised. However, the financial success of a company lawyer working within the private sector depends upon his experience and knowledge of the sphere. A company lawyer working within the Large private corporate house can expect anything near about Rs.1,00,000 per month to start out with. The pay scale also varies as per the location.
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