Before beginning your career as a business lawyer, here are some things to know. In addition to being familiar with business terminology, business lawyers should understand the different types of contracts companies use and the specific requirements of each. In addition, they should understand the financial statements and compliance requirements to provide sound legal advice. Most importantly, a business attorney must know how to separate real problems from non-problems. If they don’t understand the difference, they may spend a lot of time on something that doesn’t matter.
Career path
A career in business law offers many opportunities. These lawyers can often transfer their skills to in-house positions and may even become entrepreneurs. While some may leave the practice of law entirely, others have chosen to pursue entrepreneurial pursuits. They draw on their legal training to make their companies successful in either case. While the career paths of the business lawyer may be challenging, they can also be fulfilling. Below are some tips to help you decide whether this is the right career path.
Public interest law focuses on promoting public interests. This area of law requires firm commitments to serve the public and develop expertise early on. This career path requires a high level of dedication and can be challenging and time-consuming. However, many former attorneys have found it highly rewarding. The skills they gained while practicing law transfer over to their chosen career, including hard work, attention to detail, and strategic thinking. Additionally, they always use their writing and analytical skills in their professional life.
Job duties
A business lawyer’s job description is varied and may include:
- Negotiating contracts with other businesses or organizations.
- Drafting contracts.
- Developing asset protection strategies.
- Managing junior legal staff and advising senior management on regulatory policy.
The job description should reflect the nature of the job and include any keywords that top talent may use to search for similar positions. The list of job duties includes hard skills that can be acquired through formal training and soft skills. Soft skills include communication skills, time management skills, and the ability to prioritize tasks. They must also have good interpersonal skills and the ability to work both independently and with coworkers.
Among the various job duties of a business lawyer, drafting contracts and advising clients is one of the primary responsibilities. Often, business lawyers are responsible for managing the company’s internal operations, ensuring that transactions comply with state and federal law. In addition, they help companies avoid legal liabilities. Corporate lawyers must possess strong communication skills, excellent interpersonal skills, and a high degree of attention to detail. And they have to be able to communicate effectively with people of different backgrounds.
Education required
The education required for business lawyers depends on where a person plans to practice. Some business lawyers pursue a joint JD-MBA, while others take courses in business and law. In any case, they must pass a bar exam and demonstrate professional responsibility. The exam may include multiple-choice questions and essay questions. The exam can be challenging, but it will help prepare a business lawyer for the complexities of the profession.
Many law schools require students to complete a bachelor’s degree before applying for the program. Although not necessary, some students have undergraduate degrees in business-related fields. A bachelor’s degree in economics, government, or history, for example, would be beneficial. Other courses in business administration can help students gain a deeper understanding of business operations. This knowledge may be helpful in law school. But in general, a bachelor’s degree in business law is an excellent choice.
Professional network
The Business Lawyers Network was established in 2004 and has become a worldwide network of professionals in business law. This network has many benefits for members, including networking opportunities, education, and access to leading attorneys in different fields. Furthermore, it also provides members access to resources and tools for marketing, business development, and law office technology. In addition, the network provides opportunities for members to network among themselves and with other professionals in the greater Boston area. Those interested in joining the network should review its member benefits and contact the relevant person in their network for more information.
Unlike a traditional networking group, a professional network can be built over a long period. Initially, it may be challenging to find new connections as the lawyers often switch sectors. Recent graduates may not have many contacts, and attorneys working in large and mid-sized firms may not be used to the social aspect of the profession. Some may be introverts and homebodies, making it more challenging to build a network.
