The corporate sector in India is a dynamic sector that has been through several transformations and rapid evolution. It is a rapidly transitioning sector that is continuously adapting to new techniques, regulations, laws, and business etiquettes. Along with that, the industry has been adapting to several transformations with it, due to the shifting business strategies and operations. The sector has proliferated in India. It has become the central pillar of the Indian economy in recent times, with almost 53% contribution towards the GDP of the country.
The growth and career prospects in the sector are broad and ample, which is why several people, including young aspirants, are choosing the corporate sector. With the growth of the industry, comes the role of law and regulations in the industry.
Corporate law is a comprehensive and versatile field of study. It is one of the best career scopes and opportunities for law aspirants. A career in Corporate law has bright prospects and a versatile range of work for professionals passionate about the study of law.
The objective of corporate law
Corporate law covers a set of areas that include overseeing the legal and external affairs of corporates. Litigation, investigations, compliance, mergers and acquisitions, contract matters and international trade issues are all within the bounds of corporate law. Corporate lawyers are generally responsible for safeguarding the legality of commercial transactions, representing companies, and also providing legal advice to corporate employees, making them aware of their legal rights and duties. Corporate lawyers overlook business transactions, corporate governance and other aspects of internal and external organizational interactions.
The eligibility required to be a Corporate lawyer
Corporate lawyers usually represent all kinds of corporations, associations, sole ownership and partnerships. They operate within or beyond the premises of the firm they represent.
Corporate law is not merely about having a degree in law but extensive knowledge about the transforming laws, reformations in regulations and excellent observational and learning skills. To get a degree in law in India, an undergraduate program in the disciplines of Science, Commerce, Finance, Economics or Business would be sufficient. A total of seven years of undergraduate and postgraduate education is required to be a corporate lawyer in India. The results of undergraduate exams decide the admission of students into law courses, and the field being highly competitive, high test scores and good grades are necessary.
With the increasing number of corporate firms in India and the growth of the sector, corporate lawyers have excellent job prospects and career opportunities. While they can find employment in court, government sector, public corporates and share market firms, they can also act as an advocate for corporate houses, real estate firms and other corporate organizations.
Corporate lawyers can also practice law privately.
A professional corporate lawyer starting his career in Corporate law in India is expected to receive a salary of 3 to 4 lakh rupees annually, which would be easily upgraded to 8 to 10 lakhs every year, within a few years. The pay might be even higher with large corporate organizations, and the field has immense scopes and opportunities.
Where to study law in India?
Law education is provided by some of the most reputed law institutions in India. These are :
> National University of Juridical Sciences, Kolkata
> Nalsar Law University, Hyderabad
> Faculty of Law, University of Delhi, Delhi
With the consistent growth of the corporate industry, several law aspirants in India are choosing corporate law as a career option for its several scopes and bright career prospects. It is one of the most versatile and advanced fields of law that requires special skills and talent, blended with hard work and consistent effort.