Working as a corporate lawyer can be an enriching and a lucrative career choice. Since Corporates are flourishing in India, there is ample scope and growth for a corporate lawyer in India. Today, corporate lawyers are employed and consulted by top- notch organizations and hence this field offers a lot of opportunity for young and dynamic law aspirants.
What is Corporate Law?
Corporate law (also known as business law or enterprise law or sometimes as company law) is the body of law governing the rights, relations and conduct of persons, companies, organizations and businesses. The term refers to the legal practice of law relating to corporations or to the theory of corporations.
Difference between Corporate Law and Litigation
The difference between corporate law and litigation is simple. Corporate lawyers draft transactions or deals and give advice in relation to corporate matters. Litigators on the other hand, step in when those transactions go wrong. Litigators resolve disputes through the judicial system or through alternative methods, such as mediation or arbitration.
Work of a corporate lawyer
Basically, a corporate lawyer’s work profile will include advising businesses on their legal obligations, rights and responsibilities. They also evaluate ventures and provide advise on business structures, Mergers and Acquisition deals. He can help a client at every stage of business. Right from the time of creation to organisation and finally dissolution of the business entity. A corporate lawyer structures transaction, drafts documents, negotiates deals, attends meetings and works towards getting the best for his client. Corporate attorneys also advise on duties and responsibilities of corporate officers, directors and insiders. This list though not exhaustive, outlines some of the areas in which corporate lawyers spend their time.
However, the work of a corporate lawyer is extremely challenging and one needs to be prepared for high responsibility, long working hours, continuous vigilance and forced networking.
Skills required to become a good Corporate Lawyer
If you want to become a successful corporate lawyer then you must have good communication skills, numerical ability, general and business awareness, researching skills, drafting skills and most importantly an eagerness to learn and improve. One also requires understanding of Company Law and other allied laws.
Educational qualification
A corporate law aspirant should be a graduate in any discipline for joining a 3 year LLB course or 10+2 for an integrated course of 5 of B.A.L.L.B.
Top National-Level Entrance Exams for Law
| Exam | Conducting Authority |
| CLAT- Common Law Admission Test | NLUs (National Law Universities) |
| AILET – All India Entrance Test | National Law University, Delhi (NLU-D) |
| LSAT- Law School Admission Test | Pearson VUE |
| DUET (Law) | University of Delhi (DU) |
There are no Diploma or Certificate Courses to attain a LLB degree.
After getting a Bachelor’s of Law Degree the aspiring candidate can apply in a Company or a Law firm engaged in advising Corporate clients. Candidates can also enroll themselves for a master’s degree like L.L.M Corporate Law
How much does it cost?
The average cost of pursuing undergraduate law degree or L.L.B in India is ₹3 to 8 Lakhs, including accommodation and food facilities. The fees for Law colleges varies from ₹10,000 per month to ₹2.5 lakhs per annum. And for the integrated five years LLB course, the fees may go as high as ₹11 lakhs for 5 years.
For LLM or Master of Law in Corporate Law, the average total course fee ranges from ₹2 lakhs to ₹5 lakhs for two years. This fees also varies from college to college.
Salary of a Corporate Lawyer
Salary of a corporate lawyer in government enterprises is fairly good and it is revised periodically. However, financial success of a corporate lawyer in a private enterprise depends on his experience, knowledge and eagerness to perform and deliver on time.
A corporate lawyer in India working in a large corporate private corporate house can expect to start with a remuneration of about ₹ 100,000 per month.
Salary also depends on the institution one passes out from and experience gained through internship programs.
Corporate Law Career in India
With the growth of trade and economy, corporate law has become one of the most desirable career options for today’s generation. A corporate lawyer is in demand in corporate entities as well as Indian and Foreign law firms.
We hope that this article helps students to take an informed decision before choosing corporate law as a career option. We also acknowledge that just reading about the course may not enable the students to envisage the work of a corporate lawyer. Therefore, to help students gain some practical insights, CA Preeti Aggarwal discusses the scope of corporate law in India with three professionals working in the field of Law through the below videos
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To sum up, corporate law is an excellent career choice. In order to become a corporate lawyer, you must study law under a knowledgeable guide. Theorymasters learning provides online law courses and CA Inter law lectures. We also provide books and study material on law. To get these lectures, do visit our website. Until next time!
