This article is written by Ramanuj Mukherjee, CEO, iPleaders.
Ever wondered what the fancy, well-dressed corporate lawyers do for a living? Is it really as it is portrayed on the famous series Suits?
For all those of you who take Suits as compass to the life of corporate lawyers, let me raise the curtain for you. That is exactly ‘not’ how corporate lawyers work. Yes, there is money, but that’s all the truth there is to the entire series.
Harvey Specter in reality doesn’t quite exist. And do not be surprised if you see lawyers not having the same liberties as Mike Ross.
Let’s say you work as an in house counsel. What sort of work would you be doing?
Specifically, what sort of company law related work would you do?
What if you are a compliance specialist, a job steadily in the rise that lawyers can very well fill in?
Let’s say you work for an organisation that has been established as an LLP. The partners are wondering if they should convert it into a Pvt Ltd. How will you decide? They will definitely want an opinion from their lawyer.
Let’s say the company is raising money. How should they structure it? What kind of shares should they issue? Is issuing preference share problematic? What are the downsides?
What are the powers and limits on powers of directors? What are the compliances they must do? What kind of records are to be kept of their meetings? Can you draft the board resolutions?
How can the company create charges on moveable or immoveable property? Let’s say a factory is planning to raise some money by providing the machinery and the plant as collateral. What is the process to create charge on the same?
Let’s say the company is planning to buy back some shares to reward the shareholders. What is the process? Can you create a playbook for the company to follow?
Can you understand, draft and negotiate a shareholders agreement?
If you are acquiring a company, and want exemption from applicability of the takeover code, how will you go about it?
How to appoint and fire statutory auditors? How to accept their resignation?
How can you draft a petition to be filed before NCLT to protect the minority shareholders from unfair acts of the majority shareholders?
There are many such tasks that lawyers are regularly called upon to do. This includes lawyers working for companies as well as those working at law firms.
These are basic functions in running a company that every business lawyer has to learn.
This is the kind of work that business lawyers regularly face.
If you haven’t yet learnt how to do these things, we have a course where we teach such skills step by step. Check this company law course to get free materials and know more!
Please join us, and master company law and associated skills. It will go a long way in building a very good career for you.