Research skills matter a lot in corporate law

A legal expert, Satyajit Gupta of Advaita Legal shares with Careers360 what it takes to make it big in Corporate Law.

Q: Many students aspire to join Corporate Law these days. What has led to this?
Satyajit Gupta: What is happening is that students are going to law schools and from day one they want to become a corporate lawyer. The root cause for this is the growing corporate and mergers market. So, the number of people aspiring is definitely growing. But one issue here is that the demand is higher than the supply. There are plenty of opportunities if students are willing to explore, of course. Besides law firms, companies have started to increasingly hire corporate lawyers as part of their internal legal teams. Further, opportunities are also opening at consultancy firms.

Q: What are the core areas of work?
Satyajit Gupta: In India, a common area is Mergers and Acquisitions, which basically includes acquiring existing companies or setting up new companies. One can also enter the Capital Markets practice. It is close to Corporate Law and includes looking into the legal aspects of the company's fund-raising. Additionally, a corporate lawyer can also practice in court through corporate litigation.

Q: Does studying in NLUs give students any edge in terms of learning?
Satyajit Gupta: You have to understand that the quality and caliber of students are largely the same everywhere, but the difference lies in the law schools and in the law schools and the way the programmes are implemented, structure their curricula and provide opportunities to students. What sets the National Law Schools apart is that they provide opportunities through moot courts and exposure to law firms through projects. There is also this added advantage of getting guest faculty room the industry who are able to expose students to the practical aspects of law.

Q: What are the skills that a student should focus on to be a corporate lawyer?
Satyajit Gupta: First, very good research skills. A corporate lawyer should have knowledge of all branches of the law as corporates require all-round guidance. The questions that come up in corporate law goes beyond the Companies Act or other specific legislations. Second, the ability to read, understand and interpret is imperative. The third quality is to develop a flair for writing. The way you communicate in writing matters a lot as a corporate lawyer.

Q: Some corporate lawyers pursue MBA after law. Do you think it helps?
Satyajit Gupta: Yes, it does help to an extent, especially, if you want to work in the corporate sector. See, a corporate lawyer's work extends from just looking into legal matters to managing the clients 'legal issues, working on efficiency and overall management of specific departments. As such, having an MBA degree gives one an edge in a corporate organisation.

Q: What are the job profiles that students can expect within corporate law?

Satyajit Gupta: The first stage of your career in corporate law involves research. Freshers have to do a lot of proofreading, studying and help in the smaller aspects of any case. They might be asked to go through the same document five times. In most cases, a fresher is considered a paid intern. Of course, the level of work and accountability is more than when one is in an internship. But the reason freshers are engaged in such work is because law firms want them to understand the system thoroughly. Such work is important because that way you are acclimated with the process from the beginning to the end. Besides, if you are to lead a team you should first understand the work that you would be giving your juniors to do. Initially they should be very focused on what they are made to do and getting themselves ready for the professional office setup. It can be compared to an ‘articleship’ or training contract that law firms used to absorb fresh professionals through in earlier times.