In addition to transactional work, I also advise on general company law matters and provide assistance to other practice areas with the company law elements of projects.
What sort of hours do you put in as a corporate law associate? I have found the hours to be very variable. There is no culture of presenteeism and my usual pattern of work is 7.
However, corporate law can involve long hours, especially around the time of a completion of a transaction, and occasionally I need to be in office until the early hours of the morning. Since the hours are dependent on current workload and corporate matters can become urgent very quickly, late nights are very unpredictable and I have found it crucial to be adaptable about hours.
How much do you correspond with trainees, senior colleagues, and clients on a daily basis? I speak with my supervising partner regularly to ask for guidance on specific matters and to receive his comments on my drafting of major documents.
I encourage trainees to assist where appropriate and supervise their work closely; I really enjoy seeing trainees develop throughout their seat and it is a pleasure to contribute to this process. Mergers and acquisitions often involve input from other practice areas, especially banking, real estate and employment, and I work closely with those teams to coordinate responsibilities. I also speak regularly with clients to advise them on particular issues and to receive instructions.
What sort of responsibilities do you have as an associate in corporate law? How does it compare to the responsibility you had as a trainee? As a solicitor, I manage the day-to-day processes of due diligence, drafting documents and preparing for completion.
Corporate law is meant to be friendly for business. The laws exist to make it easier for corporations to do business. Rules that govern forming a corporation and rules for how to take corporate actions are meant to help business and make things fair for everyone.
They make sure that corporations act in predictable ways that others can rely on. A corporation has many different players.
Not everyone who works for or interacts with a corporation is an owner. Some of the key people involved in the operation of a corporation include:. Corporate law is civil law. Of course, officers and employees can still face criminal liability for fraud and other criminal acts. However, the laws that govern the formation and operation of corporations are generally a civil body of law with civil remedies.
Most corporate lawyers work for medium or large law firms. A corporation may need advice and help with a diverse set of issues. A large law firm typically has the resources and attorneys with diverse skill sets in order to meet whatever needs the corporation might have.
A corporation might call on their lawyers to know every aspect of the laws that might impact the corporation including the formation of the corporation, governance, contracts, shareholder activity and making the appropriate reports to the Security and Exchange Commission. Corporation leaders typically prefer to have one-stop shopping for their corporate needs. They also tend to prefer a long-term relationship with the attorneys they work with.
Medium and large law firms allow large corporations to meet their needs conveniently through a long-term relationship with their law firm. With corporations throughout the United States and the world, corporate lawyers work everywhere. Lawyers who focus on corporate law must know the subtleties that might apply in the various jurisdictions where the corporation has offices or conducts business. Because all corporations of any appreciable size have significant corporate needs, some corporations choose to meet this need by employing lawyers directly with the company.
Hiring lawyers to work as employees and work exclusively for the company is called using in-house counsel.
A lawyer who works as in-house counsel for a corporation may advise the corporation on a wide variety of matters that relate to corporate law and business activity. A large corporation might find it convenient to have lawyers in offices down the hall who are personally invested in the well being of the corporation. There are some corporate lawyers who work by themselves or in a small firm. They might focus on the business needs of smaller corporations or startups.
A corporate lawyer in a small or solo practice might build their client base with smaller corporations who operate in the geographic area. They might help a corporation get started but refer litigation to another firm. Corporate lawyers help companies conduct business. They help corporations do business better. Lawyers who like to read and write might enjoy corporate law. Lawyers in this area of practice have to understand and use a complex body of rules and regulations.
For lawyers with great reading and reasoning skills, corporate law can be a challenging fit. They might see the corporation through many years of business. Lawyers who prefer a long-term client base might appreciate the long-term working relationships that can form with corporate leaders in this area of practice.
Corporate law is a foundation of economic activity. Corporate lawyers help corporations form and help them do business. A lot of their work is foreseeing problems before they start and helping the corporation take steps to avoid things that can be problematic.
Practicing corporate law offers a challenging and sound career for attorneys who can tackle complex concepts and exercise sound judgment. Corporate lawyers are required to carry out tasks such as due diligence appraising the business for prospective buyers or partners. They must also negotiate agreements with different parties and verify all accounts and finances for business transactions. These are just a few examples of the wide-ranging work you could be getting involved with as a company lawyer.
The first step towards becoming a corporate lawyer is either completing an undergraduate degree in law or a degree in another subject and then a conversion course. To become a corporate solicitor, you must then take the LPC and obtain a training contract.
Business-related work experience can demonstrate your interest in how a company is run and boost your commercial awareness , which is a key skill recruiters in the sector are looking for.
Completing a vacation scheme at a law firm that specialises in corporate law is another good starting point for this kind of career. This is one of the most common questions for students interested in pursuing company law.
While these two sectors are closely related, there is a clear difference between the two. Commercial law concerns itself with the wider business industry and is more general in terms of its scope of work. It looks at legal relations between different business entities and areas like franchising and intellectual property.
On the other hand, company law is more focused on the specific business itself, working on the incorporation of businesses and their mergers and acquisitions, for example. Here are three recommended corporate law books to help budding corporate lawyers familiarise themselves with the sector and learn more about the work involved:. Applying to study law at university? Here's everything you need to know about qualifying law degrees. Find out whether you have the right personality and skills to make a good lawyer with our fun quiz!
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This information is used to compile report and improve site. Not all firms categorize the varieties of corporate practice in the same way. For example, some firms might have separate practice groups for antitrust or mergers and acquisitions, while others include them within their corporate department.
The following list, while not exhaustive, outlines some of the areas in which corporate attorneys might spend their time. Corporate formation, governance and operation. A corporation is a legal entity created through the laws of its state of incorporation. Individual states make laws relating to the creation, organization and dissolution of corporations.
The legal independence of a corporation prevents shareholders from being personally liable for corporate debts. A corporate lawyer can help a client create, organize or dissolve a business entity. To form a corporation, attorneys draft articles of incorporation, which document the creation of the company and specify the management of internal affairs. Most states require a corporation to have bylaws defining the roles of officers of the company.
Corporate lawyers also deal with business entities in the forms of partnerships, limited liability companies, limited liability partnerships and business trusts; and each form has its own set of legal rights and responsibilities, organizational structure and tax burdens. Attorneys help their clients decide which of these legal forms is best suited for the business they want to run and the relationships the principals want to build with each other.
A corporate lawyer who helps a client form a company might later be called upon for other legal advice related to the startup or management of the business, like reviewing a lease for office space or equipment, or drafting employment contracts, nondisclosure and non-compete agreements.
Corporate lawyers might research aspects of employment law or environmental law, or consult with another attorney who specializes in that field. Business executives also seek advice from corporate attorneys on the rights and responsibilities of corporate directors and officers.
Through acquiring buying or merging with another company, a business might add property, production facilities or a brand name. A merger or acquisition might also work to neutralize a competitor in the same field. This is called due diligence.
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