If you don’t want to drop out of your business class and yet want to do law, here are four in between subjects for you to continue your business and law passion.
The title itself explains that this field of law deals with contracts and torts in companies and other businesses. That is why it is also known as business law. As commerce is necessary for the proper functioning of a business, there must be stable rules and regulations governing the respected area. This is also important to have a strong economy. The general skills required are knowledge of the area, good negotiating skills, ability to read and understand contract terms and time management. Educational requirements are the same for all fields of law. And additional non-legal commercial internship or occupation will be an additional qualification.
As employment lawyers, you will cover the laws of any workplace. This applies to even the smallest firm to a multi-national corporation. This field of law is concerned with the rights and obligations of an employer and employee. You might have to deal with recruitment processes, remunerations, promotions and other legal work in relation to an employer and employee. Defending any claims against the company is also key. The qualities that you will need to grow are adaptability, agility and working in a changing environment amongst the other legal skills required. As you deal with a number of workers, you will need to me empathetic and professional at the same time.
Being very similar to a job of employment lawyers and commercial lawyers, corporate law focuses on the more elite section of the legal society. This involves general corporate matters such as shareholding, director’s rights, secretarial matters and delisting of companies. The most common work deals with mergers and acquisitions, listing clients on stock exchanges and venture capitalists. The clients in this field vary from multi-national corporations, banks and privately held companies and also medium scale businesses. To become a successful corporate lawyer you will need to cultivate an exemplary knowledge of business law, current trends in business and law of other jurisdictions. This area is generally the best for money making, provided you excel at what you do.
Banking and finance law
Being slightly different from the above fields, it is still closely related to corporate law. It deals with everything from providing loans to complex financial deals with big companies. Lawyers in this area of specialisation need to have a good relationship between the lenders and borrowers as it is an ongoing transaction between the two. It is then your job to negotiate a set of terms with the borrowers that are satisfactory for both parties. This field of law also brings you the opportunity of travelling to different office locations for work reasons which will involve a lot of paperwork and long working hours. Having familiarity in backgrounds like finance, banking or commerce will be of good use for recruitment and work purposes.