Corporate lawyers are an elite group even in corporate law practice. If you work in that field of law, absolutely no doors will be shut to you. The practice of corporate law encompasses much larger areas of law than just corporate securities, corporate mergers and acquisitions, or corporate restructuring, but all of these areas require the expertise of a corporate lawyer who is able to navigate through the mine fields of both corporate law and transactional law. The field of corporate law includes a wide variety of legal topics, including taxation, business liens, intellectual property, corporate secrets, corporate acquisitions, employee lawsuits, advertising laws, mergers and acquisitions, toll collection laws, marketing laws, landlord/ tenant laws, and more.
Corporations and partnerships exist so that businesses can operate profitably. Without them, there would not be any real economic activity. All businesses conduct business with other businesses. This is what the corporate law specializes in. All legal entities, be they partnerships or corporations, must have corporate law to govern their relationship with each other and with third parties such as shareholders, creditors, or customers.
One area of corporate law that has a major impact on the way business is conducted is liability. Liability covers a broad range of situations and accidents. For example, corporations and partnerships engage in commerce and purchasing by making transactions; therefore, corporations are held responsible for the actions of all their entities. Corporate liability also covers negligence that results in damage to property or injury to individuals, for lack of corporate law to protect them from such incidents.
Large law firms deal primarily with corporate law. Therefore, attorneys who handle such cases, must be thoroughly familiar with corporate law to perform the necessary transactional work. Corporate attorneys work closely with major law firms to develop these cases and defend them from damages and liability claims. In addition, corporate attorneys assist individual clients who bring suit against the entity to which they are owed money. They also help individuals to litigate their own claims against the business entity.
Other areas of corporate law that clients work closely with corporate law firms include acquisitions, divestitures, mergers, and divisors. Attorneys who are retained by the larger firm to handle mergers and acquisitions may represent clients on a case-by-case basis or may serve as general counsel to the entire enterprise. Corporate attorneys who work with clients on divestitures and divisors work on those matters as delegated by the client. Divestiture involves selling a company and buying another to keep it from being placed into liquidation, but attorneys involved in corporate law will work closely with their clients to determine if the sale is the appropriate course of action and to what extent.
Some transactions that are considered difficult to litigate include future contracts and stock price fluctuations. The usual methods of resolving these types of problems involve entering into arbitration or mediation between the two parties. However, if a settlement cannot be reached in negotiations, corporate lawyers can file legal actions in an attempt to provide the necessary relief for their clients. Many corporate lawyers choose to work exclusively with clients who have complicated transactions, such as complicated lease agreements or corporate acquisitions. Other common issues that clients will seek the services of corporate lawyers include tort law, commercial law, and intellectual property law.