The corporate sector has witnessed exponential growth at a very high speed. Presently, the corporate sector serves as the major pillar of the Indian economy and contributes to around fifty-three percent of GDP in India.
Quite naturally, the growth and career opportunities in this field are huge due to which a large number of aspirants choose to work in the corporate law firms in India and more are ready to join.
Purpose of corporate law
The corporate law usually revolves around watching over the legal and external affairs such as litigation, compliance, investigation, issues related to contracts, mergers and acquisitions and the matters related to international trade.
The corporate lawyers in India are assigned with the task of protecting the legality of the business transactions and offering advice to the corporate employees about their rights and legal duties while representing a company.
The focus is on how the corporate entities and the companies communicate internally via corporate governance and externally through the business transactions.
Work opportunities of corporate lawyers
Ideally, the top corporate lawyers in India stay focused on the corporations, sole proprietorship, partnerships, and associations. The following are some of the places where these legal practitioners offer their service.
● Law firms
The legal practitioners offer services in the best corporate law firms in India where they are engaged for drafting agreements related to joint ventures, mergers and acquisitions, and also offer advice on the legal matters of the corporate entities and labor.
Survey reveals that out of seventy-five students graduating from the national law school, a mere five to ten students chose to go for litigation and the rest preferred joining the corporate law firms.
● Cases of corporate litigation
Several lawyers go for corporate litigation involving a wide range of contract and tort issues along with the legal problems from which the corporation may suffer over the years.
A commercial litigation lawyer can deal with fraud practices and deception, disputes between the employer and the employees, and the violation of contract.
● Regulatory bodies
Some of the top corporate law firms in India are engaged by the regulatory bodies such as the Securities and Exchange Board of India or SEBI, the Reserve Bank of India or RBI, Competition Commission of India or CCI, Insurance Regulatory and Development Authority of India or IRDAI, and the Pension Fund Regulatory and Development Authority or PFRDA, and the Insurance Regulatory and Development Authority of India or IRDAI.
The work is related to various departments of these organizations such as legal affairs, litigation, surveillance, and commodities. The legal practitioners can also be a part of a team that oversees the matters of investigation associated with scams and irregularities in the IPO.
Areas of practice in corporate law
The area of specialization in corporate law is vast with several subjects coming into its scope and the legal professionals usually specialize in a couple of areas. The following are some of the areas that are included in the bounds of corporate law.
1. Corporate restructuring
The role of a corporate commercial law firm is to ensure that the work of corporate restructuring goes on smoothly and complies with the regulations and the corporate laws that the company and its board of directors can forward legally and appropriately.
The role of a legal professional is vital in every step of corporate restructuring.
2. Bankruptcy and insolvency
The role of an attorney in this field is to counsel the corporate entity on the provisions and the procedures of bankruptcy and to help them understand whether liquidation of assets is a sound decision for the company or not.
Furthermore, the attorney also helps the company to take a look at its assets and debts along with the financial condition and evaluates the financial documents to make the process of bankruptcy smooth.
3. Corporate litigation
The field of corporate litigation is huge and includes more than just suing of one business by another.
In fact, the corporate commercial lawyer is responsible for looking into all the legal matters of a corporation or business and also includes those steps to be taken to avoid litigation and the management of litigation and disputes in the business.
4. Rights of intellectual property
Some of the best corporate law firms work for safeguarding the creation of individuals as they receive training in legislation and regulations and prevent intellectual theft.
This field presents a huge scope for the corporate legal practitioners, and the role of the lawyer is to deal with everything associated with intellectual property.
5. International capital markets
The scope of corporate legal practitioners is also very high in this field as they offer advice to the clients regularly on the private placements, IPO’s, Foreign Currency Convertible Bonds, Qualified Institutional Placements, high value transactions, and the Global Depository Receipts.
6. Banking and finance
Two of the major areas where the corporate legal practitioners offer services are banking and finance and the types of institutions where they offer their services are the multinationals, financial and non-banking financial institutions, and the private sector banks.
7. Private equity and venture capital transactions
The corporate lawyers serving in this field need to deal with the formation and structuring of the funds and the work revolves around assisting the clients in contentious settlements and enforcing the contractual rights.
8. Real estate
The real estate companies in India also engage these lawyers for property acquisitions, investments, and joint ventures.
The legal professionals in the corporate field are the highest paid when compared with the other fields of law and the salary keeps on increasing according to the experience.