A career in corporate law

Kaustov Kashyap 

(pragatigroup08@gmail.com)

Corporate law is a specialised field in the field of law and has a great scope for graduates. This degree applies to sole proprietorships, partnerships, associations, and corporations. The day-to-day activities of a corporate lawyer include safeguarding commercial transactions, preparing corporate agreements, filing taxes, and managing government reporting. A degree in the corporate law domain can be pursued at both the undergraduate and postgraduate levels.  Corporate law is a specialisation that one can pursue while taking up a degree course in law.

Degrees like LL.B. (Bachelor of Legislative Law) and B.A., LL.B., BBA. LL.B.  BBA. LL.B. (Hons) in B.Com. LL.B. or B.Sc. LL.B. can be pursued in corporate law. The recent decades have been a trendsetter for ‘Corporate’ since we are living in a corporate era. Most people are ambitious to get a corporate job in a top-notch organisation, but their thoughts are limited to software and IT only. The growth in this sector brought lots and lots of career avenues worldwide. Corporate law is a highly reputed and rewarding career in the corporate world.

Eligibility Criteria: Before applying to the UG courses in the field of corporate law, candidates must ensure that they meet the eligibility criteria of the course. They must have completed their 10+2 examination with a percentage of 45%; there will be a relaxation of 10 percent for the candidates belonging to the reserved categories. Candidates applying for admissions to the UG programmes in the field of corporate law must meet the eligibility criteria of the course. They must achieve a minimum aggregate score of 45%; there will be a relaxation of 10 percent for the students belonging to the reserved categories.

The top entrance exams for UG courses in India are SET-SLAT (the Symbiosis Entrance Test) and CLAT (the Common-Law Admission Test). The SET SLAT is organised by the Symbiosis Law School (SLS), Pune, to help students seek admission to the university’s law courses. Whereas, the CLAT is an entrance test in the area of law that is conducted by the National Law University at a national level in India. It is an offline examination and is widely accepted in most law institutions and colleges.

Eligibility Criteria for PG Courses

Candidates applying for the PG courses must meet the eligibility requirements of the desired institute. They can study the eligibility criteria by visiting the official website of the same. Candidates require a bachelor’s degree in the field of law or related discipline with an aggregate score of 45 percent. Mentioned below are the eligibility criteria for PG courses in the field of corporate law. A bachelor’s degree in the field of law or a relevant discipline is also necessary for admission to the PG courses in the corporate law field. Students should also clear the LSAT (Law Student Admission Test) and the CLAT (Common-Law Admission Test PG) in any one of these two exams to enter the field of corporate law.

The LSAT is the most popular entrance exam at the global level for law aspirants. It is conducted by the Law School Admission Council. It is a half-day standardised test held about seven times each year. CLAT PG is a national-level law entrance examination conducted by the Consortium of National Law Universities (NLUs) for admission to postgraduate programmes in the field of law.

Scope of Corporate Law

The scope of a corporate law course is very diverse in both India and abroad. The corporate industry is growing in India, and there is increasing demand for corporate lawyers due to their high dependability. The salary of a corporate lawyer is handsome, which varies depending on their experience and knowledge. Graduates can work in law firms, corporations, banks, or any other government or private sector. Law abroad has always been a top-ranking and high-paying career. Many countries, like the USA, hire qualified legal lawyers, provided they are eligible for the same.

Careers in corporate law

Corporate law is an emerging career in the law field as well as the corporate field. This is a versatile choice of career. The demand for corporate law will never come down, as the corporate sector is growing at a very rapid speed. The corporate sector contributes 53 percent of GDP to the Indian economy. Corporate law plays a major role in corporate governance as it includes involvement in major decisions, commercial transactions, disputes, and negotiating settlements. Corporate law generally revolves around overseeing all legal and external affairs. As the knowledge, experience, and potential of the corporate lawyer increase, it increases his or her prestige and demand in the corporate world. One can become a corporate lawyer, legal advisor, corporate events associate, associate advocate, legal counsellor, or law administrator by studying corporate law.

Top Corporate Law Colleges in India

Admission to corporate law colleges is based on the entrance examination or direct admission based on past academic performance. The fee for private colleges is generally higher as compared to government colleges. A few private corporate law colleges are Babu Banarasi Das University, Lucknow; GITAM School of Law Visakhapatnam; Hemchandracharya North Gujarat University,Patan; SLCU Bangalore; Symbiosis Law School, Nagpur; Indian Law Institute, New Delhi; NLU Jodhpur; and National Law University, Jodhpur, to name a few.

Upcoming trends

The demand for corporate law courses is rapidly increasing in the corporate sector. But corporate law has nailed its place to serve a large number of companies. The upcoming trends in this area include:

 Virtual Law Firm: As the name suggests, virtual law firms are legal companies that don’t have a physical presence and are mostly operated from the home of a lawyer. A virtual law firm is a very beneficial innovation that reduces the cost of setting up an office. The location and time are both flexible, and lawyers can operate it from anywhere in the world. The client’s reach also increases.

Legal Search Engines: Legal Search Engines is an online platform that allows legal professionals, lawyers, and law students to access legal information easily. Finding legal information online can be a bit overwhelming, but due to legal search engines, individuals can now access the information very easily and quickly.

There are some other innovations in the field of law, such as web-based legal services and corporate secretarial services. These trends and innovations make the corporate field a rapidly developing field.