Corporate Law is the framework of laws that direct and control legal proceedings existing in the domain of business. The laws prevalent in the corporate realm allude to the rights and obligations of all the people who are closely associated with the corporate world and engage in activities as farming, operating and managing a corporation. Corporate Law emphasizes a potential detailed study of legal practices germane to the ethical framework of business enterprises and conglomerations. Indeed, it can be said that Corporate Law takes into consideration laws that govern and manipulate manifold facets of business corporations.
Corporate Law, as has been witnessed, is a dynamic, influential and versatile career option that possesses impressive qualities to be duly revered and regarded as an outstanding career option. It’s quite promising and fulfilling for individuals to sincerely endeavour to build a flourishing career in the pertaining field. So to say, working devotedly with undefiled conviction and unflinching dedication can really bestow upon an individual the gift of a rewarding and lucrative career path in the concerned arena. However, pursuing the career of a corporate lawyer is not an easy and simple task; one has to be ardent, determined and diligent enough to study rigorously as well as ceaselessly without fail. In fact, resorting to corporate law as a career option can offer a challenging yet quite advantageous career for aspirants who are adept and tactful enough to tackle complex concepts and at the same time effortlessly proficient in exercising sound judgement. Hence, it can be affirmed that for individuals with remarkable reading and reasoning skills, corporate law can prove to be intellectually stimulating and immensely beneficial.
It is expected that this profession will soon gain impetus in the coming years and emerge as an attractive and vibrant business landscape as the corporate sector in India has assumed prominence due to its contribution in consolidating the Indian economy by engulfing a fair share of 53% of the Indian GDP (Gross Domestic Product).
Career as a Corporate Lawyer
The career of a Corporate Lawyer involves the dexterous execution of a multitude of tasks- proper and effective application of legal knowledge in matters related to devising and framing corporate agreements, corporate taxes, import and export affairs , matters associated with mergers and acquisitions, joint ventures and undertakings, public listings, sole proprietorship, partnerships, corporate structure agendas, employment laws and regulations, government reporting, and laws governing regular business pursuits and ventures. Corporate Lawyers are legal Counsels in multifarious areas like tax law, bankruptcy, intellectual property, and zoning or securities. They are supposed to possess tremendous and a thorough knowledge of statutory law and regulations passed by government agencies. Also, they must willingly and efficiently help their clients attain their goals with due regard to the law-abiding rules and obligations.
Owing to the ever-intensifying and consistently evolving scenario of the global society, Corporate Lawyers confront a complex and diversified work schedule. A lawyer influences a company’s decisions through his meaningful advice or recommendations, hence he or she has to undergo a considerable amount of pressure at work.
The Corporate Lawyer also guides and counsels the Board with systematic advices so that appropriate actions could be implemented in terms of legal cases under which the company is charged. A lawyer’s job encompasses both indoor and outdoor activities which are to be performed deftly and effortlessly. His task is cumbersome and he confronts enormous pressure in his legal ventures; since he is the only one who safeguards the company from landing in the soup of legal problems and disorders and guides it on all the legal matters. He interacts and endeavours to come to terms with the highest authorities in the company’s hierarchy, i.e. the Board of Directors at times of need and distress as well. It can therefore be concluded that a lawyer has to utterly flexible and dynamic in order to actively discharge his duties efficaciously. Even when he is at home he is engrossed with the company’s work; hence a lawyer is always placed on a high pedestal and his duties and responsibilities are considered to be of utmost value and importance.
The scope of corporate law is wide covering multifarious specializations which enables a legal person to learn the various aspects of corporate sector ranging from corporate finance/refinance, Insolvency and Bankruptcy Laws, capital markets, venture capital, securities laws to the extent of international capital markets. One may also opt for the course of compliance/corporate secretary after completion of law degree which enables the person to work as Key Managerial Person in any company. Career as corporate advisor is not only restricted to private jobs and as such one can also apply for the examinations conducted by the Security Exchange Board of India for the recruitment of Assistant Manager (Grade A) and in order to apply for the same post persons pursuing relevant degree from law stream finds the most comfortable zone. Apart from this government jobs, corporate lawyers have a huge demand in multinational companies, legal processing outsources incorporations, insurance companies, law firms and asset management companies. Top Law firms in India which has a high demand for corporate lawyers are Amarchand & Mangaldas, Luthra and Luthra Law offices, Khaitan and Associates, Trilegal etc. but one thing which must be ensured in this regard is that in many cases it has been witnessed that law graduates from National Law Schools mainly get the access to this elite organizations. Demands of corporate lawyers in International Capital Market is also very high. Corporate attorneys are seen engaged with underwriters companies, FIIs, Private Banks and Public companies advising in the areas of IPO (Initial Public Offering), compliance management, risk assessment, FCCB and other laws relating to depositories receipts.
Corporate Sector has always been a platform for most paying as compared to other sectors and there is always a surge in the payment scale with due regard to the experiences and skills. Constraint in salary is not subjected for a right candidate and one can easily enhance his/her career in this sector.
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