Being a Corporate Lawyer
♫ Wednesday, October 27th, 2010A corporate lawyer is a lawyer who specializes in corporations law for a company, and according to Black’s Law Dictionary, in the U.S. a company means “a corporation – or, less commonly, an association, partnership or union – that carries on industrial enterprise.” Ensuring legality of commercial transactions and advising corporations of their legal rights, duties, and responsibilities is the main role of any corporate lawyer. Areas of expertise required to work in this field are contract law, tax law, accounting, securities law, bankruptcy, intellectual property rights, licensing, zoning laws, and specific law relating to the business in which they work. The practice is considered less adversarial than that of trial law, and lawyers on both sides of the transaction are seen, and act, as facilitators and not opponents. Transactions take place amongst peers. There are rarely wronged parties, underdogs, or inequities in the financial means of the participants.
It is a common thought that companies existed as far back as Ancient Rome and Greece, but the most recognizable predecessor did not really establish itself until the second millennium. Medieval guilds, where members agreed to abide by rules but did not participate in ventures for common profit, where the first recognizable commercial associations. Merchant law developed from this. It is a body of rules and principles laid down by merchants themselves to regulate their dealings; a system of customer and best practices. They were enforced through a system of merchant courts along the main trade routes. The Latin expression for this is: “lex mercatoria.” A corporate lawyer structures transactions, drafts documents, reviews agreements, negotiates deals, and attends meetings. In some cases corporate lawyers can become a partner in their firm, an in-house counsel for the corporation, or even change to another profession like investment banking or teaching.
