Career as a Business Lawyer

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Most lawyers choose a legal specialty that combines legal practice with their other interests. If you are interested in business, commerce, and what moves the economy, a career in business law may be appropriate for you.

Business law touches everything in your life. The stores where you shop, the place where you work, the merchandise you buy, the movies you watch are all affected by the laws regulating business. Business law establishes expectations for the conduct of business. These are among the most basic laws in developed civilizations. Legal records of business transactions are some of the earliest known documents. Business law, however, is constantly evolving. Business lawyers face new issues every day. Business law changes and expands just as the business world changes and expands. Technical issues related to electronic commerce are just one example of relatively new areas of business law. The economy and business trends will affect the opportunities that are available to you as a business lawyer.

Many lawyers specialize in the area of business law. For example, the American Bar Association reports that its Section on Business Law is the ABA's largest specialty section with almost 60,000 members. Like other professionals, these lawyers use their independent judgment and undergo rigorous and lengthy education and training. They must follow a professional code of ethics. Like other lawyers, they are officers of the court and must take an oath to uphold the constitution and follow ethical standards.

You can work in a variety of settings if you specialize in business law. You can work in private practice as a member of a law firm. The law firm can range from a solo practice, where you are the only lawyer, to a large law firm with over 600 lawyers. Most beginning lawyers at law firms start in salaried positions. Newly-hired, salaried attorneys usually start as associates and work with more experienced lawyers. After several years of gaining more responsibilities, some lawyers are admitted to partnership in their firm or go into practice for themselves. Others become full-time law school faculty or administrators; a growing number of these lawyers have graduate degrees in other fields as well.

You also may work as an in-house lawyer. Lawyers who are employees of an organization or business are referred to as in-house counsel. These lawyers have a single client - their employer. They advise their employers and handle their legal needs. In-house or staff lawyers also may be employed by government entities or agencies. Some in-house lawyers move into administrative or managerial positions. Often the upper level managers in corporations have a law degree. Some experienced business lawyers eventually join law schools as faculty members.

These business lawyers not only teach but also research new legal approaches to business issues. Business law is not as dramatic as the courtroom litigation featured in television shows. It is, however, intellectually challenging and requires polished interpersonal skills. This is a good career if you want to help people. Business lawyers are trusted advisors. In business law, you will help entrepreneurs bring their business visions into reality. You will guide people working for businesses large and small through complicated legal transactions.