7 skills for a career in corporate law

India being the world's 3rd largest start-up ecosystem sees a career in corporate law as a very promising and lucrative one. Corporate law across the country is driven by multiple factors as it also is the world's 2nd largest entrepreneurial hub.

The demand for corporate lawyers has increased in the recent years with transformations in India's legal sector. However, there's a massive amount of competition in today's corporate law field and needs multiple skills to excel and make it a fruitful career.

Business awareness

One of the most essential skills a corporate lawyer should incorporate is having commercial or business awareness. A corporate lawyer should be well aware of the current developments either locally, nationally or on world business level. Law firms are businesses like any other firm or organisation so the lawyers must understand and value the importance of deadlines, handling confidential information, keeping low cost and such. One of the ways you could embark this skill in yourself is by attending seminars held by professionals, listen to shows like BBC to learn more about the sector, become a member of university club or so.

Investigative skills

Every corporate case is different from another, as each client faces different situations, to find solutions to cases researching plays a crucial role as more details regarding the case gives a plus point to win a difficult argument. Referring to various information to map out meaningful and important resources require investigative skills to be clear in speech and on paper for legal draft.

Communication and negotiation skills

Communication and negotiation skills go hand in hand, in order to be a good negotiator your communicating speech should be clear and understandable. As a lawyer of a corporate firm, it is the duty of the lawyer to handle the closing arguments well as the prestige of the company as a corporate lawyer depends on its employees. To become a successful corporate lawyer, written communication plays a key role. Corporate lawyers' duty involves articulating drafts that are error free, avoid misconceptions and misunderstandings.

Company law literate

To make your corporate career successful it is important to possess knowledge about your firm and the company law it operates in the country. A successful lawyer in this corporate firm should have a strong knowledge and understanding of the company act and it should be embedded in you as these laws comprises the winding up of the company, prevents fraud and mismanagement within the company.

Analytical and critical- thinking skills

Being a corporate lawyer indulges you into various situations and scenarios which are completely different from another, to skim through every case as a lawyer it is important you should have advanced analytical and problem-solving skills. Critical thinking plays a major role as well since the way you communicate your case and your clients are crucial. Having strong critical thinking skills and analytical skills will help you in your journey as a corporate lawyer to find solutions for every problem as it is the duty of every corporate lawyer to find suitable and appropriate results to benefit your client.

Organisation skills

It is no doubt organisation skills play a crucial role in corporate sector as well. Researching, contacting clients and subordinates, drafting legal documents, meeting clients, arranging case files, creating bonds with other professionals, require time and organisation skills. It is equally important to organise all the information of the firm and client appropriately while differentiating between confidential and public details.

Essential strategy and team work

Being a corporate lawyer is no exception and one needs to work with many lawyers and clients in every case which is discussed by team members before a valid decision is made. Matters like closing agreements, transactions between lawyer and client, assisting them with legal solutions and scenarios call for group discussions among team which require the skill for good teamwork. Keeping close and healthy relationships in corporate sector is no doubt a stepping stone to guide you through your corporate career. Creating strong strategies to find solutions is also one of the essential duties a corporate lawyer should consider to have a successful career in corporate firm.

As the demand for corporate lawyers is only set to increase in the future, learning new skills and updating yourself according to the markets needs becomes essential to make corporate law a sought career.

(The author is the Dean, School of Law & Legal Studies , Sanskriti University)