If you want to know more about becoming a commercial lawyer, and what you can expect working in a commercial law firm in London to be like, this article can give you an idea of what corporate lawyers do, what training is needed and how much you can expect to receive as your salary.
What is Commercial Law?
Commercial law deals with legal problems that can occur in any commercial transactions and in the running of any type of business. The main concerns of commercial law are contract law and tort law. Contract law aims to provide a legal framework for parties to resolve their disputes and regulate their contractual obligations. On the other hand, tort law deals with torts, this is when someone commits a wrong against another person. Tort law enables the person who has been wronged to claim damages from the person who has wronged them. A huge range of clients can need the help of a commercial law firm, including large scale corporate companies, governments, banks, brands and more.
The Roles of a Commercial Lawyer
Commercial law is a varied area of work and if you find a job in a commercial law firm in London there are a number of different roles you may find yourself in. One of those roles is a solicitor, a solicitor’s typical day may involve reading contracts, amending them for clients, reviewing business mergers and drafting up legal papers.
Another commercial law job is as a barrister. Commercial barristers are faced with business disputes in the form of commercial or tort claims. A solicitor will help guide their client through the litigation process and help prepare them for whatever the oppositions argument and claim is.
Becoming a Commercial Lawyer
Before you can land a role in a commercial law firm in London there is a fair amount of training and qualifications you will need to undertake. You may already have a law degree, but even if you have a degree in Zoology or Biology it is still possible to become a commercial lawyer. You will have to spend two years at law school, studying for your Graduate Diploma in law (GDL), followed by a Legal Practice Course.
After your qualifications you can start looking for roles at commercial law firms in London. You will start at the bottom and will have to complete a two-year training contract before you are officially a junior associate.
Becoming a commercial lawyer is a long process with many hours involved both in the training stage and the working stage, but there are many benefits. You will have the opportunity to advise some of the most well-known companies in the world, on matter that affect the political and economic landscape. On top of that a commercial law firm in London can offer you a starting salary of around £30k and there may be the option of secondments abroad in all-expenses paid apartments. It is tough becoming a commercial lawyer, but your hard work will be rewarded.