CORPORATE LAW

What with existing businesses growing in size and with a large number of new business enterprises opening shop each year, corporate lawyers are on a growth flight which is likely to last several decades. Corporate law defines the rules of the game for business corporations. And corporate lawyers come into play whenever any of the parties involved cries foul which is very, very often, indeed to advise their corporate clients, to argue their cases in court, draw up business contracts for them and so on. The Work Lawyers in private practice usually work for long and irregular hours meeting clients, researching and reading about new developments, drafting contracts and agreements or preparing briefs (particularly when their cases are being tried in court). On the other hand, their salaried counterparts in the Judicial Service or those in corporate sector tend to have senar and more intended work schedule. As a lawyer, you will end up spending a considerable part of your time at your desk. Hence, cultivating the art of intelligent listening, sifting the grain from the chaff, counseling, negotiating and writing/drafting are absolutely vital for a successful lawyer. The rest will come with experience. This is a profession where family connections still matter. Reputation is what clients go by in the legal profession and that has to be earned. It rarely comes easy or fast. Employment Opportunities So far the usual image we have of lawyers in India is that of an individual advocate practising his profession from small home offices and crowded cubicles and rooms grandly called chambers attached to various courts. On the advocates desk are piles of files tied up with strings; in the courts themselves there is much pushing, shoving and crowding. The one-man legal practitioner combines court appearances in the day with client meetings and legal drafting in the evenings. Well, the big emerging trend in law is the move away from solo legal practice to well-organised law firms comprising several or even several dozen legal eagles working together as one entity, offering a full range of legal expertise. While the number of law firms is still relatively small and the solo legal practitioner is not about to disappear anytime soon the trend towards law firms is unmistakable. And for those seeking careers in corporate law, it might be a good idea to look at law firms because corporate clients are more likely to deal with legal firms rather than individual lawyers. Corporations simply feel more comfortable dealing with other companies.

In case you choose to set up your own practice, youll first need to learn the ropes under a senior advocate or, of course, in a law firm. The legal profession has undergone a sea change over the last decade. Especially in the field of corporate law as the rules governing companies have been virtually rewritten with the opening up of the market in the last decade. The changing face of corporate law is increasingly catering to the specific requirements of each organisation large or small. If you can figure out the core functions of an organisation, you can tailor the generic law to suit their requirements. Broadly speaking, corporate lawyers advise corporations on their legal rights and obligations. Very few matters actually come to the court. Multi-crore suits have changed the very complexion of the game, making corporate law a popular and lucrative career option. And with foreign law firms moving into India, salaries have begun to shoot upwards. Demand for lawyers with experience in securities and transactions, is growing in proportion to changes in the global marketplace. While till some time ago, only major companies transacted international business, even small players are now involved in foreign transactions necessitating the services of corporate lawyers who are well-versed with International law. In fact, with joint ventures and foreign collaborations coming in, the need for drawing up contracts and interpreting statutes and statutory provisions would increase considerably. Contract law is gaining importance, thanks to increased private sector participation and liberalisation. Securities and banking laws are also gaining importance with the advent of e-commerce. Besides large corporate houses, some of the big accounting firms like PwC and KPMG have opened their own legal departments. And with global law firms poised to enter India, the market for corporate lawyers is on the verge of an exciting spin. To boost your prospects further, you could even plumb for an additional qualification, e.g., Company Secretaryship or a degree in HR or Industrial Relations with a working knowledge of labour laws depending on the field you wish to specialise in. Conversely, you could opt for a Masters in Business Laws from NLSIU (through distance learning mode) after your MBA or CS to boost your prospects. If you have a flair for writing, you could initially attach yourself to the legal correspondent of a newspaper and move on to independent reporting in due course. If you are academically inclined, you could also join a reputed legal publishing house or go into teaching, research or perhaps even politics.

Where to study? You can either study law straight after Class 12 or opt for a 3-year LLB course from a reputed university after your graduation. Integrated 5-year Law courses (BA LLB) are offered at over 50 universities in India. Aligarh Muslim University, Faculty of Law, Aligarh 202002 (UP). (www.amu.ac.in) Indian Law School (ILS), University of Pune, Ganeshkhind, Pune 411007 (Mah) www.unipune.ernet.in Nalsar University of Law, 3-4-761, Barkatpura, Hyderabad 500027 (AP) www.nalsarpro.org National Law School of India University (NLSIU), Nagarbhavi, PO Bag No. 7201, Bangalore 560072 (Kar). www.nls.ac.in National University of Juridical Sciences (NUJS) Bhavan, LB Block, Salt Lake City, Kolkata 700098 (WB). www.nujs.edu Symbiosis Society's Law College (SSLC), Senapati Bapat Road, Pune 411004 (Mah) www.symlaw.ac.in) University of Delhi, Faculty of Law Delhi 110007. www.du.ac.in University of Mumbai, M.G. Road, Fort, Mumbai 400032 (Mah) (Government College of Law). www.mu.ac.in University of Bangalore, Jnana Bharathi, Bangalore - 560056 (University College of Law & Bangalore Institute of Legal Studies). www.bangaloreuniversity.net University of Hyderabad, Hyderabad 500134 (Mahatma Gandhi Law College) www.uohyd.ernet.in (At the Masters level (LLM) you can choose electives that will lead to a specialisation in corporate law. Postgraduate Diploma courses are also available for law graduates).