“The study of law is useful in a variety of points of view. It qualifies a man to be useful to himself, to his neighbor's and to the public.”
A career in law can be financially rewarding and personally fulfilling. Due to the evident complexities in our legal system and the ever increasing regulatory work undertaken by the government in the name of welfare governance there has been a constant rising demand for lawyers. In order to keep up with the ever changing legal world, the role of the legal professionals has evolved to a great extent over the years.
Increased specialization and segmentation in this profession has led to the proliferation of myriad legal specialists in different areas. The legal sphere in today’s world is extremely dynamic and a large number of students from different educational backgrounds can pursue law in order to give a new shape to their career and gain an edge over others.
Students who have opted commerce in their senior secondary may opt for an integrated (5year LLB program) i.e. B.Com + LLB or BBA+LLB as their subjects to graduate, which is being offered by various National Law Universities in the country. Apart from this graduates in commerce (B.COM / BBA) can also apply for a three-year LL.B program once their graduation is completed. Top universities in our country offer these three year traditional LL.B courses for fresh graduates.
Students with an educational background in the stream of commerce may pursue law and look forward to the following career opportunities –
B.Com? CA? CS? Law? Journalism?
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CORPORATE LAWYER –
Corporate law involves diverse practice and is very integral for the legal as well as business industries. It is one of the most popular streams of law among the aspiring solicitors and its area of concern includes restructuring companies by selling shares and assets, listing companies on the stock exchange and mergers and acquisitions of the companies. These lawyers are required to negotiate agreements, verifying accounts of the parties involved and finances for business transactions. An excellent knowledge of corporate law is required. The working is closely associated with the subjects of commerce. Students who are interested in such dealings and have a command on their subjects may find an edge here.
TAX LAWYER
A tax lawyer helps their clients when it comes to complex systems of tax codes. The tax laws deal with multiple deductions, exemptions, credits and involve complex tax jargon which requires professional help to deal with. A tax lawyer deals with this and may also represent their clients in disputes if required. Such lawyers may serve an individual or a firm. A lawyer with an educational background in tax and related subjects may have an upper hand in this arena. It is a competitive field and a strong command on the basics of tax and its knowledge is required to create a place in this profession.
BANKRUPTCY SPECIALIST
A Bankruptcy lawyer is one whose paramount focus is to reduce or to eliminate debt or to proceed forward with bankruptcy and do it via court proceedings. A Bankruptcy lawyer may represent a corporate debtor, corporate creditor, creditor’s committees or a bankruptcy trustee. They may work for an individual or may be for corporations. As the job demands both courtroom and outside procedures the lawyers are expected to have an idea of the functioning of the system and command on the relevant laws. A bankruptcy lawyer apart from his usual duties may also focus on extracting as much money as possible from their debtors. Students with a background in relevant subjects tend to understand these laws more quickly and clearly.
MBA+LLB, NEXT BIG THING
It is one of the most recent trends in business education. A good law firm also requires good managers. In the increasingly globalized economy this combination of both of these degrees may lead the career to different heights. It may open gates for higher financial opportunities and will lead one in becoming a legal consultant for any big firm or an organization. One may also get an option to become an in house legal counsel for a global company. A legal representative can give a new outlook to an MBA programme.
There are various different options and fields of law available for students coming from the commerce stream. There is no restricted barrier when it comes to choosing the area of practice or interest for a lawyer. However if one wants to keep in touch with their educational backgrounds one may then go for the above mentioned popular options. Students pursuing CA, CS, CWA may also go for a LLB degree as it will only enhance their profile and knowledge.
