A quick review of the corporate lawyer’s job…
In this article, Louis DETALLE (ESSEC Business School, Grande Ecole Program – Master in Management, 2020-2023) explains what a corporate lawyer works on, on a daily basis.
How a corporate lawyer is different from any other lawyer?
A corporate lawyer (also called a business lawyer) is first and foremost a lawyer, so he has studied law. However, he specializes in commercial and company law. He can also add banking law, tax law, industrial property law, mergers and acquisitions or stock exchange law to his skills.
Unlike the classical lawyer in the common sense of the term, the corporate lawyer works in a law firm or directly with a large company, advising it on all legal aspects of its activities. They only plead in cases of litigation, whereas a lawyer specialized in criminal law will plead much more often and in various criminal cases.
What does a corporate lawyer work on?
The tasks of a corporate lawyer are varied and depend on the specialty he or she practices within a business law firm. Indeed, the latter may have a dominant advisory role, i.e., he will accompany corporate clients on all their issues such as company takeovers, share transfers, debt issues… On the other hand, the corporate lawyer may also work with a litigation focus, i.e., he will specialize in defending the interests of his clients when they are the target of a lawsuit, or when they sue a third party. In any case, the corporate lawyer is a genuine advisor. The corporate lawyer must lead his clients to make the best strategic choice for them and must defend their interests against the opposing party.
The daily advisory missions of the corporate lawyer
In relation to corporate clients, the business lawyer will have to participate in his clients’ projects by ensuring that they respect a well-adapted legal framework. This will be an important part of the lawyer’s work to ensure that the client is not in conflict with the law and the regulations specific to its sector. The corporate lawyer will also need to assist clients in M&A transactions in the same way that an investment banker will. In this respect, the corporate lawyer will participate in the negotiations on the amount of the transaction and will pay particular attention to the various clauses and legal documents relating to the transaction. Whether it is the drafting of a Non-Disclosure Agreement, a Letter of Intent, a Non-Binding Offer or the signing of the Share Purchase Agreement, the business lawyer will have to supervise all these legal documents in order to protect his client as best as possible. The business lawyer will also have to assist his clients in the drafting and supervision of the various contracts relating to the company’s partners.
The punctual litigation missions of the corporate lawyer
On the other hand, the corporate lawyer will be responsible for advising and representing his clients in possible litigation. This will consist of determining the rights and duties of his clients in case of litigation and pleading in court if necessary. This aspect of a business lawyer’s work may seem less recurrent, but it is nonetheless crucial because it is precisely when a client is being sued that he or she needs the business lawyer most.
How to become a corporate lawyer?
In France, after a baccalaureate, the future corporate lawyer must enroll in a law faculty to obtain at least a Master 1 or a Master of Law. Afterwards, they can specialize in business law and obtain a Master 2 in business law, financial law, or tax law. They can also choose to continue their studies at a university abroad or take a master’s degree at a business school, which they will enter by admission based on their qualifications.
Once they have their master’s degree, the future business lawyer will have to join a regional center for professional training of lawyers or CRFPA to obtain the certificate of aptitude for the profession of lawyer or CAPA, commonly known as the “bar exam” and become a business lawyer.
Resources
An comprehensive interview of a corporate lawyer
Youtube Conference Business Lawyer: between myths and realities
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About the author
The article was written in December 2022 by Louis DETALLE (ESSEC Business School, Grande Ecole Program – Master in Management, 2020-2023).