When Facebook purchased WhatsApp for 22 billion dollars, corporate law helped make the deal possible, claims Jeremy Eveland. With a large sum of cash, hundreds of thousands of employees and 2.9 billion users at stake, the firms sought corporate lawyers to help with the legality of the process, which included analysis of both companies, contracts, and bargaining, to make sure everyone got their fair share. If you’re passionate about law and enjoy being a part of business’s biggest agreements, corporate law is the way to go.

Overview of Corporate Law

Corporate law covers the law about companies and their founding, activities, mergers, and buyouts. For instance, when a MNC acquires a small company, two companies want to collaborate, or a shareholder wants to invest funds in a startup, they’ll turn to corporate law to understand how to legally carry out the deal.

According to Jeremy Eveland, people who are in corporate law do everything to wrap up these deals, from research to examining the final contract. Beginner corporate lawyers often do legal research and investigation. Legal research means that they study what laws are relevant to their clients and how those laws may impact the deal. Due diligence refers to looking into the corporations that are involved, particularly things like loans and payment contracts. 

More seasoned corporate attorneys help prepare deals and bargain for their clients. The most senior lawyers, also known as partners, deal directly with clients to guide them about transaction procedures and laws.

Corporate Law vs. Commercial Law

Corporate law and commercial law are two areas of legal practice related to businesses, but they focus on different aspects. Corporate law deals with the creation, operation, and management of companies, while commercial law is concerned with transactions involving the sale and distribution of goods and services.

Types of Corporate Law

Corporate lawyers work in various industries, such as healthcare, technology, retail, and finance. They handle different aspects of business law, including:

  • Mergers & Acquisitions (M&A): This involves companies combining through mergers or one company acquiring another.
  • Private Equity: Assisting investors who want to invest in private companies.
  • Venture Capital: Help investors raise funds for new and growing businesses.
  • Corporate Governance: Ensuring that companies are managed and run according to rules and regulations.
  • Securities: Deal with laws related to stocks and other financial instruments to prevent fraud and ensure transparency.

How to Become a Corporate Lawyer

Education and Certification

To become a corporate lawyer, you’ll need to follow these steps:

  • Bachelor’s Degree: Start by getting a bachelor’s degree. Many aspiring corporate lawyers study political science, business, or related fields during their undergraduate studies.
  • Law School (Juris Doctor – J.D.): After completing your bachelor’s degree, you’ll need to attend law school for three years to earn your Juris Doctor (J.D.) degree. Law schools require you to take the Law School Admission Test (LSAT) as part of the admission process.
  • Pass the Bar Exam: Once you graduate from law school, you must pass the bar exam in the state where you intend to practice law. The bar exam tests your knowledge of both national and state-specific laws.

Skills Needed

Successful corporate lawyers possess specific skills:

  • Hard Skills: These include knowledge of contract drafting, corporate governance, and various aspects of business law. These skills are typically acquired through law school courses and practical experience.
  • Soft Skills: Strong research, writing, and communication skills are essential for effective legal practice. Corporate lawyers also benefit from having a good understanding of business operations and strategy.

Why Choose Corporate Law? Pros and Cons

Pros:

  • Close Interaction with Businesses: Corporate lawyers often work closely with companies, advising on legal matters and becoming trusted advisors to business leaders.
  • High Earning Potential: Corporate law can be financially rewarding, especially as you gain experience and specialize in certain areas.
  • Global Opportunities: The field of corporate law offers opportunities to work with multinational companies and explore international legal practices.

Cons:

  • Long Working Hours: Corporate lawyers often have demanding work schedules, including long hours, evenings, and weekends, especially when working on complex transactions.
  • Entry-Level Challenges: Starting out as a corporate lawyer may involve less direct client interaction and meaningful work until you gain more experience and responsibility.

In Closing

Following legal and ethical standards in corporate law is crucial. It’s like playing by the rules to keep things fair and honest in business. By sticking to these standards, corporate lawyers ensure that everyone plays by the same rules, promoting transparency and trust. This is key to building strong and lasting businesses that operate with integrity. Jeremy Eveland came to the conclusion that businesses that comply with corporate law gain the respect and credibility of their clients, investors, and the community. Ultimately, it’s about doing the right thing and setting a good example.