This article is written by Ramanuj Mukherjee, CEO, LawSikho.
Ever wondered what the fancy, well-dressed corporate and business lawyers do for a living?
Is it really as it is portrayed in the famous series Suits?
For all those of you who take Suits as the compass to the life of corporate or business lawyers, let me raise the curtain for you. That is exactly ‘not’ how 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 junior 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 business law-related work would you do?
What if you are a compliance specialist, a job steadily on the rise that lawyers can very well fill-in?
Let’s say you work for an organization that has been established as an LLP. The partners are wondering if they should convert it into Pvt Ltd. How will you decide? They will definitely want an opinion from their lawyer.
What would your role be as a lawyer working for an Indian IT company? Do you know how the GDPR affects your industry? What are the compliances that you need to adhere to? What’s the penalty?
What if the client you drafted the contract for has now initiated an arbitration proceeding? Would you know the exact process in order to provide dispute resolution support?
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?
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 agreements? Do you know the boilerplate clauses to a licensing agreement? Or the importance of an arbitration or ADR clause as the first resort in case of breach of contract?
Do you understand the implications that an employee would have if he or she uses the R&D done while working for your company as her own? What is the standpoint in IP laws with respect to this? What important clauses must you incorporate in the agreements to avoid this?
If your company is in the process of acquiring a company and wants exemption from the applicability of the takeover code, how will you go about it?
How do you protect a company’s intellectual property? What would you need to know in order to advise them to the best of your ability? What would you do in case there’s a challenge to the company’s trademark?
What if you are working for an e-commerce company selling third party products on your website? Do you know of intermediary liabilities?
Do you know the key clauses in a tender document? How does a government tender work? What are the stages involved in the same?
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 learned how to do these things, we have a course where we teach such skills step by step.
Where would you reach with these skills that are taught? Can you spare an hour every day to attain a solid chance at your dream job?
We are currently enrolling students for our most popular Diploma in Business Laws for In-House Counsels course. It is a 1-year diploma program. Go check out the details of the course on its page.
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