Corporate Law and its Applicability in Today's Businesses


Learn more about corporate law and its applicability in the current Indian scenario.

The prominence of the corporate sector in our country simply cannot be understated, it would be imprudent to do so. The corporate sector accounts for 54% of India's GDP. Across the last few decades, there has been a multitude of changes in the Indian economy, across industries like communication and transportation, construction as well as in the functions of commerce, banking and international trade. Liberalisation of the economy is the process of changing the terms of trade between urban and rural, labour and industry, finance and commerce. Keeping all this modernisation in view, the government constituted a committee to enhance and create more opportunities by amending the existing rules and regulations related to Company Law or Business law in India.

Corporate law
Corporate lawyers are present across all business organisations mainly to carry out the following functions -

  • Choosing the right type of entity and structure for organisations

  • Negotiating and signing leases, contracts and other agreements

  • Overseeing and managing investor financing

  • Negotiating and administering a merger or acquisition

  • Establishing fair and legal employee treatment and hiring

  • Safeguarding and protecting Intellectual Property such as patents and copyrights

  • Obviously laws and regulations will vary across different cities and states, however, the above-mentioned tasks are pretty pervasive across different industries and geographic locations. Legalities and formalities are also in a state of constant evolution and growth which mandates the need for professional assistance in the form of a corporate lawyer.

    Corporate law is a vast and comprehensive subject which consists of a large number of subcategories as well. They can be explained below as -
  • Corporate restructuring - Corporate Restructuring is the procedure of altering the composition of a firm's one or more business portfolios in order to earn more profits and operate efficiently. The role of a corporate lawyer in this process is to ensure that restructuring is done within the legal framework and corporate governance.

  • Corporate Litigation - Corporate litigation includes basically includes a large variety of proceedings. These include - compliance with wage laws, defending companies against wrongful suits, and managing corporate tax compliance.

  • Intellectual Property Rights - Intellectual property lawyers are professionals trained to protect individuals' innovations from intellectual theft. For industrial property, a business may employ an intellectual property lawyer to help you file an application for a patent or trademark, defend your patent or trademark, defend your case before a patent examiner or board, or write a licensing agreement.

  • International Capital Markets - The scope for corporate lawyers in international capital markets is pretty extensive. Lawyers work with underwriters, FIIs, banks, venture capitalists, and asset management companies. They periodically offer suggestions to clients on the aspects of IPO's, Qualified Institutional Placements, Foreign Currency Convertible Bonds, Global Depository Receipts and other high-value transactions.

  • Real Estate - A large number of corporate lawyers are plying their trade in the real estate sector. These lawyers advise some of India's largest real estate companies in investments, joint ventures, property acquisitions/ sales, and leases. The lawyers have to be knowledgeable about an array of real estate structures and have a wide level of experience with handling the complexity in this sector.


  • Corporate Law is one of the versatile and dynamic sections of the legal framework in our country. All business entities - MNC's, Government organisations, Sole proprietors/ Partnerships, and private organisations all require legal assistance throughout the business lifecycle. The scope for studying law is in India is quite extensive. One of the prominent institutes to grow your career in corporate law is - University of Petroleum and Energy Studies, Dehradun.

    The BBA LLB or corporate law course offered by them aims to groom a batch of bright corporate lawyers, who apart from having an in-depth knowledge of the industry, are adept and well-versed with the dynamic legalities in the business environment. Completing this degree opens multiple avenues for career growth in the form of placements in business entities like - Indian and foreign law firms, MNC's, global audit and compliance firms, and consultancy firms.


    Article by Tony John
    Tony John is a professional blogger from India, who started his first Weblog in 1998 at Tripod.com. Tony switched to blogging as a passion blended business in the year 2000 and currently operates several popular web properties including IndiaStudyChannel.com, Techulator.com, dotnetspider.com and many more.

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    Comments

    Author: Umesh19 Mar 2019 Member Level: Diamond   Points : 3

    Whenever there is some deficiency in business relations between two entities and a party feels aggrieved by the dealings then there is a scope of litigation as the affected party can always go to the court for compensation.

    These are the situations in the real world where there is a need for corporate lawyers. Corporate lawyers know the rules and regulations under which the companies work. As they know the rules they also know the lacunae and weak points of the system. So they are the best people to fight the cases in the interest of an organization.

    In this respect, I feel that the senior executives also should be exposed to short term courses on corporate law and its application in court cases.



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