Wondering whether you should opt for a career in corporate law or go for a business law degree instead? We can help clear things out for you by outlining the key differences between the two, so that you are better equipped to make an informed choice.
Different Legal point of actions
Transactional or corporate lawyers are more or less entirely business oriented and are tasked with learning how businesses operate. They handle the legal documentation involved in establishing your company and then are supposed to advise their client on matters of their legal obligations and responsibilities that are established by the state.
You can count on a corporate lawyer to evaluate your business venture and identify or fix the catch they might think can get you into trouble. Your corporate lawyer melbourne will thus provide structure to your company, and quantify the various risks the company might face in future. All in all, transactional lawyers are not your typical courtroom lawyers, and they for sure fight no cases for their clients.
A business lawyer on the other hand handles aspects that come under the business laws. These include tax obligations, employment laws, contracts and other related areas of practice. It is majorly the responsibility of a business lawyer to make the company it works for, abide with the local laws.
Moreover, business lawyers are also utilized to protect business’s intellectual properties, such as business name, slogans, logos and packaging. The use of copyrights and trademarks to protect one’s intellectual property works, as long as you have a business lawyer as a patent, who advises you on the key steps you must take inorder to legally protect your business intellectual properties.
Time spent in a courtroom
Business lawyers or litigators are the ones who generally spend a greater portion of their time within the courtrooms. They build your case and take it to the court where they negotiate, battle and argue to defend it. There are cases that can often be settled outside the court, however those too require an aggressive stance assumed by your lawyers to win a case in your favor.
On the other hand, corporate lawyers, who are also called transactional lawyers, can spend their entire career as a lawyer without having to spend a single day within a courtroom. They are not supposed to make arguments on behalf of their clients, or fight cases within a courtroom. They settle deals outside the court, with very little fighting involved.
Most corporate lawyers operate alongside major corporations, within their legal department. They are generally seasoned experts that work as in-house counsel for larger organizations, helping them abide by local and international laws.
Most business lawyers act as an all-rounder, and provide legal help in nearly all aspects of your business. They are often seen as an asset for small businesses, whereby they help ensure that the company complies with local laws and regulations. When faced with a lawsuit or any violation of a stated law, the business lawyers help handle your lawsuits, and take matters to court if the need arises. Their clientele is therefore usually the small burgeoning business that requires help with either its formation or dissolution.