Corporate Lawyer Education Requirements | A Details Guide
When you think of a lawyer, what comes to mind? Perhaps a criminal defence attorney or a stress-filled personal injury lawyer. How about intellectual property (IP) lawyer? Or even a corporate lawyer? Suppose you’re considering pursuing a career in law but haven’t decided on the type of law that interests you yet. In that case, this article is for you to learn about the corporate lawyer education requirements.
The role of a corporate lawyer is rather broad and has many subcategories. Depending on the company and department, your job as a corporate lawyer could involve:
- Working with contracts.
- Handling general counsel issues.
- Helping with financing and acquisitions.
- Advising on company operations and processes.
- Even devising strategies for new markets and products.
This article will explore what it takes to become a corporate lawyer.
Corporate Lawyer Education Requirements
- Earn a bachelor’s degree
- Complete an internship
- Apply for law school
- Earn your Juris Doctor degree
- Pass the bar exam
- Get licensure in your state
- Meet with professionals in the field
- Develop your resume
What Does a Corporate Lawyer Do?
Corporate lawyers work with companies on various legal issues, from financing to mergers and acquisitions. While a corporate lawyer’s work will depend on the specific practice area, a few commonalities run through most corporate law practices. –
Business agreements: Corporate lawyers draft or review all types of business agreements, from employment contracts to supplier contracts, ensuring that the agreements are legally binding and make sense for both parties
Litigation support: When a company faces a legal issue, sometimes it’s important to “fight fire with fire” and bring in outside counsel to assist with litigation. Corporate lawyers often play an important role in this process and might assist with discovery, depositions, and trial work.
Regulatory compliance: Corporate lawyers also often help companies comply with federal and state regulations and licensing requirements. This might include helping with privacy and cyber security issues, corporate governance issues, and more.
Strategic advice: A corporate lawyer may advise a company’s leadership on plans, mergers or acquisitions, and even larger-scale business operations.
How to Become a Corporate Lawyer?
The path to becoming a corporate lawyer varies depending on your educational background and the types of certifications you earn along the way, but generally speaking, there are three main paths to becoming a corporate lawyer.
- First, if you already have a J.D. (law degree), you can take the bar exam in your state and apply for an associate position at a law firm or an in-house counsel position at a company.
- Alternatively, if you have a B.A. and an LL.M. (master of laws), you might be able to apply for an entry-level associate position at a law firm.
- Finally, if you have an M.B.A. and a J.D., you may be able to skip the associate position and go straight to a partnership track at a law firm.
Types of Lawyers: Knowing the Difference Is Important
While all lawyers technically practice the law, there are some significant differences between areas of law. As you progress through your education and start applying for jobs, it’s important to understand the subtle differences between different areas of law so you can target the types of jobs that are a good fit for you.
Litigation vs transactional law: Some lawyers spend most or all of their time in court, while others spend most or all of their time in the field doing things like drafting contracts. Litigation and transactional lawyers usually have very different personalities and skill sets.
Corporate law vs litigation: If you’re interested in corporate law, you might be surprised to learn that it’s not as common to see big courtroom battles between two giant companies over a merger, intellectual property, or other dispute. Most corporate law work occurs behind the scenes and doesn’t involve the media spectacle of a court case.
Public vs private sector law: If you’re interested in working for the public sector (often in regulatory bodies such as the Federal Trade Commission or the Securities and Exchange Commission), many areas of law can be a good fit. If you’re interested in working for the private sector, the most common areas of law are corporate, litigation, and tax law.
Law Firm Training Requirement
If you work for a law firm as an associate, you’ll likely spend a few years doing a wide variety of tasks related to legal work and learning about different practice areas. You may draft or review contracts, interview and speak with clients, and participate in discovery, depositions, and other types of court proceedings.
While law firms vary, most firms have a system where associates are eligible for partnership after a certain number of years at the firm. To get promoted to partnership, you’ll need to show that you have the skills and knowledge necessary to succeed in the role.
To get promotion in partnership, you may need to attend an in-house training program at a company. In-house training programs are designed to help company employees navigate regulatory issues and solve problems that come up in the course of business.
Requirements for becoming a Corporate Lawyer
The good news is that you don’t need a law degree to become a corporate lawyer. Instead, you’ll need to earn a bachelor’s degree, obtain strong grades and pass the LSAT. The LSAT is a standardized exam used for admission to law school. Most law schools require you to take the LSAT no later than the spring semester of your senior year. You can take an LSAT prep course to get a jump start on your LSAT prep.
Earning Potential as a Corporate Lawyer
The earning potential of a corporate lawyer varies, but you can expect to earn a six-figure salary right out of law school. You’ll earn more in larger cities, such as New York City or Washington D.C., where the cost of living is higher.
As a corporate lawyer, you can earn between $75,000 and $150,000 a year after law school, depending on your experience level. Your salary can increase as you gain more experience and take leadership positions. The average salary of a corporate lawyer is around $123,000 per year.
Pros of a Career as a Corporate Lawyer
As a corporate lawyer, you can expect a challenging, intellectually stimulating, diverse work environment. You’ll have the chance to work with various people and solve problems that matter. You’ll also have the opportunity to work on all project stages, from the beginning to the completion. Branching out on your own, becoming a solo lawyer, or working as a partner at a law firm can be very rewarding. However, working for a large law firm specializing in a particular industry might offer more stability if you’re the entrepreneurial type.
Cons of a Career as a Corporate Lawyer
The work can be stressful and demanding, especially for those who defend clients in criminal cases. You’ll have to deal with emotional situations, such as families who have lost loved ones due to drunk drivers or the families of victims of violent crimes. It can be a good idea to seek out therapy if you find that your work is emotionally taking a toll on you.
You’ll also have to do a lot of networking, which means spending time at events that you might otherwise avoid. You’ll also have to spend much time at your computer, as legal work is primarily done online. Most of the cons to becoming a corporate lawyer are tied to the emotional toll of the job. However, you’ll also be on the fast track to burning out if you don’t pace yourself and take time out for yourself.
Is Becoming a Corporate Lawyer Worth It?
Becoming a corporate lawyer is worth it if you thrive in this career. You can find satisfaction in knowing that your work helps to keep businesses thriving. A corporate lawyer also has great earning potential, especially for those who stay in the field for several years. If you like working in an intellectually stimulating and diverse career, becoming a corporate lawyer is the perfect fit.
Every state in the United States requires that certain types of legal professionals obtain a license to practice law. This includes lawyers, paralegals, and other types of attorneys. In addition, some states require that certain types of attorneys complete certain types of education to qualify for a license to practice that area of law.
There are various law licenses, and the requirements for each vary from state to state. Federal law also impacts whether or not an attorney can practice law in the United States. Regardless of the type of law license an attorney has, there are some basic requirements that all states follow when granting a license to practice law. These requirements include:
This article will discuss in-depth the requirements for qualifying for a law license. We will also discuss the degrees and courses typically required for obtaining a law license. We will finish this article by discussing the various types of licenses and what you need to do to become eligible for one in your state.
I am Raymond W. Reeder a practicing lawyer, as well as an expert in criminal law, civil law, corporate law, and intellectual property.
I am currently writing for Legal Fact Pro my own blog site where I share my expertise and knowledge to help people out with their queries. I am a trial lawyer who combines pragmatism, charisma, and dedication to deliver strategic advice and counsel to policyholders and, when necessary, provide record verdicts in state and federal court in insurance coverage cases, IP litigation, and commercial matters.
I am engaged by clients such as the California Automobile Association; Allianz Global Risks US Insurance Company; Zurich North America Corporation; Liberty Mutual Insurance Company; Progressive Casualty Insurance Company of New York. Here are some of my personal clients and company testimonials.