While a career in law has always attracted youngsters from multiple backgrounds , the budding lawyers of today are even more drawn to corpoate law , an all the more lucrative and inviting dimension 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 is name and fame along with good income in the profession.
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 operation and formation of corporations. A Corporate Lawyer basically works for companies or corporations and represents their business entities of all type. These include associations, corporations, joint ventures, Partnerships and sole proprietorship. Corporate or Business Lawyer also represent individuals who act in a business capacity like Directors, Owners, Managers, controlling shareholders and officers.
A successful corporate lawyer should have the knowledge of laws issued by different govt. institutes and departments for legal actions and procedures along with different guidelines. He should have knowledge of latest new rules and regulations of business, corporate law, and company status guidelines. Further he should be an expert in skills drafting, debating and should be 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 for facing the problems during tough times and trying to excel in this situation.
A career in the field of Corporate Law has great career option after 12th class. When it come salary there is a substantial rise of the salaries of the lawyer with foreign law firms moving into India. Higher salary in never a constraint for a talented corporate lawyer. In starting of their career as a corporate lawyer in any company, they can get 3 to 4 Lakhs Rupees salary package. But after some experience and success they can get a salary of 8 to 10 Lakhs per annum. Senior Corporate Lawyers on a high post of a company easily get a salary package of 25 to 30 Lakhs per year.
In fact, with joint ventures and foreign collaborations coming in and Contract law is gaining importance, thanks to increased private sector participation and liberalization. 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 lawyer down the line. Some of the big accounting firms like PwC and KPMG have opened their own legal departments. Now that the global law firms are poised to enter India, the market for corporate lawyers is definitely going to flourish.
Students can either study law after Class 12 or opt for a 3-year LLB course from a reputed university after graduation.Integrated 5-year Law courses (BA LLB) are offered at over 50 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.
Some reputed colleges where students can pursue Corporate Law are:
• Aligarh Muslim University, Faculty of Law, Aligarh 202002 (UP).
• Indian Law School (ILS), University of Pune, Ganeshkhind, Pune 411007 Maharashtra.
• Nalsar University of Law, 3-4-761, Barkatpura, Hyderabad 500027 Andhra Pradesh
• National Law School of India University (NLSIU), Nagarbhavi, PO Bag No. 7201, Bangalore 560072 Karnataka.
• National University of Juridical Sciences (NUJS) Bhavan, LB Block, Salt Lake City, Kolkata 700098 West Bengal.
• Symbiosis Society's Law College (SSLC), Senapati Bapat Road, Pune 411004 Maharashtra
• University of Mumbai, M.G. Road, Fort, Mumbai 400032 (Mah) (Government College of Law).
• University of Bangalore, Jnana Bharathi, Bangalore - 560056 (University College of Law & Bangalore Institute of Legal Studies).
• The university of Hyderabad, Hyderabad 500134 (Mahatma Gandhi Law College)
• Rajiv Gandhi National University of Law RJNUL, Patiala,
• Department of Law, Punjab University (PU), Chandigarh http://puchd.ac.in