Gone are the times when litigation and a robed lawyer used to be the only meaning and face of law in India. Today, the scenario is such that the practice of corporate law is truly international in nature thanks to the fact that India is one of the fastest growing economies in the world and a signatory to the WTO or world trade organization.
The legal areas of yesteryear such as arbitration, and practice in courts and forums, now exist in addition to an equally large number of corporate practice areas such as mergers and acquisitions, company restructurings, joint ventures, real estate, capital markets, intellectual property and collaboration of companies, and moorings.
If one decides to go for corporate law, there are not only corporate law firms but also many corporate houses and even banks that will welcome you. The corporate law sector includes work in the fields of taxation, intellectual property, environmental law, banking and international law. There are as many fields as there are corporate houses and the legal fields to gain experience in are numerous.
Now, I would like to mention the names of some companies that are corporate giants in the field.
1. Amarchand and Mangaldas and Suresh A Shroff and company
2. AZB and partners
3. Khaitan and company
4.J Sagar Associates
5. Luthra and Luthra Law Firms
6. Trilegal
7. Desai and Diwanji
8. Talwar Thakore and associates and the list goes on.
Promising areas in these firms are competition law, media law and real estate, among others. These are some areas that the former of various law schools are interested in. The work that is the backbone of corporate law is the negotiation and drafting of contracts. Also, one must possess excellent communication skills and a good argumentative personality.
If you want to become a role model lawyer, you must have the following skills all rolled into one. These skills are to be a business consultant, an arbitrator and a negotiator together and at the same time.
What clients want in a lawyer is their ability to create watertight contracts that give the client a 100% guarantee that they will not be dragged into court.
Now let’s look at some of the advantages of practicing corporate law over litigation. The first factor is that in litigation the main dominance is by established senior lawyers and the gestation period is too long, i.e. mostly it will take a whole decade before one can be recognized in the field of litigation and in business, your start itself is great.
In addition, the initial payment package in companies is 10 times greater than the initial package in litigation, so if you are planning litigation, you must be prepared to work for little money for a long time and depend on someone else for your financial needs.
In addition to all this, it should also not be forgotten that the avenues of corporate law will continue to increase with changes in demand and supply at the international level, so the avenues in companies are only going to increase.
Another important reason why one can think of corporate litigation is that corporate clients come from various countries and you have the opportunity to work abroad when you are on site.
Also, in corporate you can choose your area of ​​specialization and deliver results and acquire a name in your company and in your chosen field.
The last and most important thing is that one can participate in important strategic decisions related to the operation of a company while working in the corporate.
The bottom line is that the face of law in India has completely changed over the last decade and not only are good corporate law firms flourishing in India but even foreign law firms are coming to India to hire. and corporate law avenues are now on par with litigation options so that one can safely assume that one is doing the right thing by choosing a career in business.