OVERVIEW
What Is a Business Lawyer?
A business lawyer is responsible for assisting corporations with legal matters. Their role is to ensure everything done at the company is legal and above board. From mergers and acquisitions to incorporations and bankruptcies, every legal aspect related to the company's business activity will be under your purview.
RESPONSIBILITIES
What Does a Business Lawyer Do?
While it will vary from company to company, here are some common tasks you might be expected to perform as a company attorney:
- Starting businesses. Some business lawyers may be asked to help individuals decide what type of business they should run. Sole proprietorship, an LLC, a partnership, or a corporation—there are many options—and ensuring your client establishes the right one means savings and tax benefits for them.
- Contract law. When one party fails to live up to its obligations or duties, things can get complicated. And your job will be to negotiate a settlement and sort out whatever problems there may be. This may involve writing employment contracts, NDAs, or even taking those in breach to court.
- Property law. Many businesses own or lease properties, and this comes with its fair share of paperwork. Real estate law is a complex web that your business clients might find difficult to navigate, so you’ll be tasked with bringing your legal expertise to hand and guiding them through it.
EDUCATION & BEST DEGREES
How Do I Become a Business Lawyer?
Becoming a lawyer is a challenging career path that requires hard work and many years of education. You’ll need to earn a bachelor’s degree, get admitted to law school, and pass the rigorous lawyer certification or bar exam for your state before becoming a licensed attorney.
Step one: Earn a bachelor’s degree
Before entering law school, you’ll have to earn a bachelor’s degree. A bachelor’s degree in business management is an ideal choice for those who want to become corporate attorneys. A business degree will prepare you for this career by teaching you the fundamentals of economics, statistics, management, and strategy. These courses will also ensure you’re ready for law school and give you the building blocks needed to build a career as a business lawyer.
Step two: Complete law school
To be a lawyer you need to have completed three years of law school. You'll be required to sit for the Law School Admission Test (LSAT) first, and then get admitted to law school. During your time at law school, you’ll be able to take courses on tax, labor, and corporate law, among others. This education will provide the foundation for your legal career.
Step three: Earn your state licensure in law
The final step toward your dream of becoming a business lawyer is getting licensed by passing the bar examination. Regardless of the state you’re in, you’ll have to pass the its bar exam, meaning if you intend on practicing law in a different state, you’ll also need to pass that state's specific bar exam.
When you’ve completed all these steps, you’ll be a certified attorney, ready to build your career as a corporate lawyer.
Best Degrees for a Business Lawyer
Business
Business Management – B.S. Business Administration
Hone your business acumen and garner added respect:...
Hone your business acumen and garner added respect:
- Time: 61% of graduates finish within 19 months
- Tuition: $3,755 per 6-month term
- Courses: 40 total courses in this program
Skills for your résumé this program will teach you include:
- Business communication
- Product development
- Decision making models
- Project management strategies
- Budgeting for business
This online degree program is an excellent choice for kick-starting your organizational management career.
How Much Does a Business Lawyer Make?
$135,740
The median average pay for attorneys was $127,990 in 2022. The top 10% of lawyers earn around $239,200 per year, while those in the lower 10% made $66,470. The location and size of the organization or company will make a large difference when it comes to yearly income. Generally, the longer you stay with a company, the more you'll earn.
What Is the Projected Job Growth?
8%
The growth outlook for lawyers is projected at 8% from 2022 to 2032. Being a lawyer is a stable job, but they do tend to work long hours, including weekends and holidays. If you’re on a retainer, you can expect to be called up at any time to sort out legal emergencies that may occur.
What Is the Projected Job Growth?
5%
Management jobs are expected to grow by 5% from 2019 to 2029, a rate faster than the average expected expansion across all occupations. This will mean an estimated 505,000 new management positions across a variety of different industries.
Exact business manager growth figures are largely dependent on the success of the respective industries hiring business managers. Because business managers are responsible for managing businesses in healthcare, educational, industrial, automotive, technological, and other markets, the outlook is difficult to forecast.
Still, the need for business managers to tie financial goals, employee management, and corporate best practices together is only expected to increase in years to come.
SKILLS
What Skills Does a Business Lawyer Need?
Career counselors who can see beyond what their clients can will find themselves rewarded emotionally and achieve success in their role. Career counselors need empathy and kindness just as much as training and technical skill.
If you're interested in becoming a career counselor, you'll need a balance of hard and soft skills, some of which include:
- An analytical mind. The ability to quickly solve problems and issues for your business clients.
- Clear communication skills. Comfort meeting with clients from diverse backgrounds and different countries.
- Research skills. You must know what laws or regulations apply in each specific matter, regardless of how obscure they may be.
- Collaboration skills. Few lawyers work alone, so being comfortable working in a team is essential.
- Excellent writing skills. You’ll be charged with preparing various legal documents, so being a confident writer is a must.
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