The business of law

The business of law

Corporate law offers incredible opportunities to work on a myriad issues

01/06/2020, VIVEK SINGH

Special Arrangement

Corporate law — also known as company law, business law and enterprise law — is one of the fastest growing fields of law in India. High domestic demand, improved infrastructure, rising penetration of the Internet and smart mobile devices, and various government initiatives such as Startup India and Make in India are continuously giving a boost to domestic as well as multinational corporations in India.

Corporate law in India, or any other country, deals with laws governing the rights of the businesses and their people and legally empowers them in the establishment, funding, dispute settlements, ownership of titles, and all the legalities necessary for their successful operation.

Rising demand

Be it issues related to finance, offshore operations, licensing in the international market, insurance of assets and capital, or mergers and acquisitions between various entities, the help and assistance of a corporate lawyer is the need of every business organisation today. In addition, a corporate lawyer or consultant also guides the client in resolving various pending cases in different tribunals and in preparing various deeds, contracts and negotiations.

Apart from the blue-chip and multinational corporations, there are more opportunities for corporate lawyers.

Handsome packages

A fresher’s package in India usually depends on the market value of the institution from where he/she acquired the degree. For example, if one is a pass-out from a top-level National Law University (NLU), then he/she has chances of beginning with an annual package of ₹12-15 lakhs. After five-seven years of work experience, it may reach up to ₹25-30 lakhs.

On the other hand, a fresher from mid-level NLU usually begins with an annual package of ₹7-10 lakhs. In general, remuneration depends on work experience.

Many multinational companies also hire Indian corporate lawyers for their overseas subsidiaries. Moreover, Legal Process Outsourcing (LPOs) recruit law graduates for their processes dealing with laws in the US or the UK.

Qualifications

One can opt for a three-year law course after graduation or a five-year course after high school. However, more people now prefer the latter. The The LLB course is regulated by the Bar Council of India. Specialisations are done at master’s, M.Phil or PhD stage and pursued by those who are interested in academics.

Corporate law offers incredible opportunities to work on a myriad issues. Besides providing financial stability, it also improves contacts in the industry and helps to develop good connections in the society.

The writer is an advocate, Supreme Court of India.