What is a Commercial Lawyer?: The legal industry attracts many people because it is a rewarding career that makes entering this industry competitive. There are many opportunities for growth and financial success in business law.
Business lawyers can find work in both the public and private sectors, so you have several options to try out. In this article, we will explain how to become a business lawyer and provide an overview of the steps you can take to achieve this career goal.
What is a Commercial Lawyer?
“A simple answer is commercial lawyers give advice to clients who are either looking to achieve commercial transactions or settle commercial disputes and so where that focusses on is the business community.”
As a commercial lawyer, a big part of your job is handling transactions and managing paperwork as well as working alongside your clients to help them achieve what they want and find solutions for their problems. It’s about managing a range of various corporate deals.
Now, there are different paths that you can follow when it comes to being a commercial lawyer — you usually have to specialize in something.
How to Become a Commercial Lawyer
If you are interested in business law and legal regulations in business and commerce, you may be wondering how you can become a business lawyer. A business lawyer’s job is to guide clients through contract terms, draft documents, and oversee the business process. It is a lucrative field that requires dealing with companies daily. It is slightly broader than corporate law and includes litigation, intellectual property protection, and franchise laws. The job description of a business lawyer also includes negotiating contracts or the conditions of license agreements.
What Does a Commercial Lawyer Do?
There are various areas of expertise that a business lawyer can practice, such as those related to communications or intellectual property rights. In particular, such lawyers also work with small to large companies and private individuals. They take care of legal issues and reduce conflicts that arise in mergers or legal disputes.
A business lawyer can negotiate on behalf of a client and defend them in court. Some business lawyers are in-house legal advisors for companies or corporations. This means they can only work with one client and offer their services to one organization. For certain business issues, such as those involving property or real estate claims, attorneys may receive assistance from business defense attorneys.
They often assist with paperwork and help lawyers tell their clients what to expect from the other side. Business lawyers perform the following tasks:
- Contract changes and drafting
- Revises the terms of the merger
- Maintain and manage official documents
- Write business reports
- Respond to clients’ legal concerns
7 Steps to Become a Commercial Lawyer
Like any other profession, being a business lawyer requires a lot of dedication, hard work, and dedication. Here are seven steps you can follow to become a business lawyer and build a successful career:
1. Earn a Bachelor’s Degree
Obtaining the right qualifications is one of the first steps you can take to become a business lawyer. Potential employers or employers also tend to offer jobs to people who have completed their law studies. If your major is unrelated to the field of law, it may take longer to pursue a career in business law. You will complete a Graduate Diploma in Law (GDL), which provides one year of legal training.
2. Do a Vacation Scheme
An internship or internship can help people break into the industry and see what it would be like to work in business law. Internship holidays in law firms can last between one and four weeks. Consider this a short internship before starting your career in the industry.
Take a look at law firms that offer vacation policies for business lawyers and gain valuable insight into the structure of such law firms and their corporate culture. Since this is essentially the start of a business law career, you can also demonstrate your skills by handling everyday tasks. Once vacation planning is complete, it can be easy to walk in the door and start looking for vacancies.
3. Start Connecting with People
Start building your strong network connection as soon as possible. This can make your path to becoming a business lawyer easier. When it comes to business law careers, networking can make a big difference. With the recommendation of a senior employee or an established business lawyer, you can boost your career and present convincing arguments to the hiring committee. Reach out to people from past internships or vacation programs and stay in touch with them.
4. Create a Strong Resume
You want to make a good impression on the boss or host from the first moment. Therefore, it is important to create a suitable and meaningful CV that shows why you are suitable or preferred for the company. Here are two tips to help you create an attractive resume:
Present your successes: Highlight examples that best illustrate two to three of your key competencies.
Tailor your resume for the Organize your submission to highlight your work experience and problem-solving skills as they relate to the type of cases you will handle at the company you are applying to. could be faced.
If you’re thinking about becoming a business lawyer, your resume is a good place to start. When companies want to hire business lawyers, they first look for the ability to think quickly and offer solutions. Therefore, it is important that your resume stands out and highlights these skills.
5. Look for Training Contracts
Most people apply for these contracts in their final year or final year of study. This is a common entry point to a career in business law and can help you land a job at a top firm. Training contracts present a certain challenge as the competition is very tough. If you already have experience in the legal field, it may be easier to secure it.
Obtaining a training contract depends on your educational background and professional experience. Here are three ways you can apply for these contracts:
- Wait until the second year of study: Law students are entitled to training in their second year of study and can receive certain offers.
- A different approach is required for non-law degree programs: For non-law degree programs, it is best to aim for a training contract immediately after completing the GDL.
- Complete your Legal Practice Course: Paralegals who have completed their Legal Practice Course (LPC) and have one year of professional experience are also eligible to apply.
6. Gain Professional Experience
This is a little different from a vacation program or an internship. It makes sense to gain six months to a year of professional experience to increase your chances of pursuing a career as a business lawyer. Even if you’ve never worked in the legal field before, the experience can help you develop certain skills that employers are looking for. Your previous professional experience can also make your application for a training contract stand out from others. So focus on starting early and look for jobs where you can hone your skills.
7. Complete your LPC (Legal Practice Course)
Before you begin practicing business law, it is important to complete the LPC. Sometimes people tend to start right after completing their undergraduate studies. It allows you to apply knowledge and training to real-world situations or legal issues. You can also prepare for your LPC in your final year of study and complete the course even after completing a training contract.
In some cases, law firms may also cover this, so you should consider and consider your options carefully. The LPC is an integral part of professional practice in commercial law and creates credibility in this area.
What Skills Are Required to Become a Commercial Lawyer?
The role of a business lawyer requires good communication and interpersonal skills. It is common for lawyers to communicate with clients, employees, and other professionals. Therefore, it is important to be clear when making statements or messages. Recruiters or employers often look for candidates who can adapt to a fast-paced environment and add value to their company or business.
Before developing your skills, it makes sense to expand your knowledge of the legal field and have business experience. Marketing awareness can set you apart from the start and increase your chances of getting hired. Additionally, the following three skills are required to become a business lawyer:
- Qualitative Research: Conducting an in-depth review of existing cases can help you learn more about past events and regulations.
- Analytical thinking: An investigative approach combined with a good interpretation of data is essential for identifying and solving problems.
- Good Negotiations: A proper compromise discussion can eventually lead to an agreement between the parties without unnecessary acrimony.
Who Hires Commercial Lawyers?
Many business lawyers strive to expand their careers or work for reputable companies. In business law, the most respected and respected law firms are also known as the Magic Circle. If you are interested in business law in a specific area or industry, business lawyers also have the opportunity to work in various companies that require regular legal support.