Top 10 skills corporate lawyers should have and how to learn

Corporate law has lately become one of the most sought-after career options for students. This is primarily owing to the respectable lifestyle, lucrative salary, and growth opportunities that the field provides. If you are the one looking for a career in corporate law, there are many online courses and certifications available from top universities that will teach you everything about the field and skills required for corporate lawyers. Corporate law deals with how companies interact externally through commercial transactions and internally through corporate governance. A corporate lawyer is a person who represents companies, corporations, partnerships, and other businesses.

Corporate law incorporates various areas within its fold; therefore, a corporate lawyer can specialize in any of those areas of his choice. These areas include Corporate Restructuring, Insolvency & Bankruptcy, Compliance, Corporate Litigation, Intellectual Property Rights, Banking & Finance, International Capital Market, Venture capital transactions, Private Equity, and Real estate. There is cut-throat competition in the corporate law field today. Thus, to excel in this field, you do not just need to be good but need to be the best. For that, you need to learn the various skills of corporate lawyers by taking online degree courses and corporate lawyer certification courses.

Also Read: Online Law Courses & Certifications

Top 10 Skills Required for Corporate Lawyers and How to Learn Them

Also read: Free Online Corporate law courses in India

1. Business Awareness

Commercial or Business Awareness is one of the most important skills of corporate lawyer. Business awareness means understanding the business and the business environment in which the organization operates. You should also know what makes a business successful, its products, buyers, sellers, the technology used, etc.

Course for this skill:

Foundation Certificate in Commercial Awareness

This is one of the best corporate lawyer online courses where you will learn about business finance, organizational behaviour, structure and operations. You will also gain the commercial and organizational knowledge required for effective business analysis. The course will cover techniques to evaluate a financial case, appreciation of costing and pricing, forecasting and budgeting, understanding of organizational models and structures, Interpreting financial accounts and explain specific business performance ratios, and analyzing the business domain and portfolio value.

Duration: 2 days

Fee: £192

Platform: bcs.org

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2. Negotiation skills

Negotiation is an amicable method of dispute resolution where conflicts are resolved through discussion. A good corporate lawyer should be a good negotiator too. He must have good negotiation skills as no company wants to indulge in expensive litigation and is always ready to resolve the dispute peacefully.

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Successful Negotiation: Essential Strategies and Skills

Offered by the University of Michigan via Coursera, this is another one of the best corporate lawyer courses where you will learn conflict management and negotiation skills, Strategic Negotiations, and Communication. The course will also cover four key stages of negotiation, Planning Your Negotiation Strategy, Using tactics to negotiate, Negotiation to create a binding contract, Performing and evaluating the agreement, and Practicing Your Negotiation Skills.

Duration: 17 Hours

Fee: Rs 2,116

Platform: Coursera

Also read:

Successful Negotiation: Essential Strategies and Skills by University of Michigan, Ann Arbor via Futurelearn

3. Knowledge of Company Law

If you want to become a successful corporate lawyer, then you must have a thorough knowledge of the company law operating in your country. Companies Act 2013 deals with the incorporation of companies, the appointment of company officials, winding up of company, prevention of fraud and mismanagement in companies. You must have a thorough understanding of the Companies Act to become a corporate lawyer.

Course for this skill:

Introduction To Companies Act, 2013

In this amongst the sought-after corporate lawyer certification courses, you will learn about the functioning of a company and understand the decision-making process in a company, the strategic choice, commercial intent, and the basics of the Companies Act,2013. The course will further discuss incorporating companies and finding their information: the rationale behind incorporating companies, types of companies, drafting MOA and AOA, etc. In addition, it will cover investment transactions and capital changes: types of securities, private placement, shareholders agreement, etc.; Directors, Board Decisions, and Related Party Transactions: Appointment of directors and their removal, types of directors, etc.; and more.

Duration: 1 month

Fee: Rs 3,000

Platform: Lawsikho

Also read: Career as International Arbitrator

4. Communication

A corporate lawyer must have good oral and written communication skills. He should be able to confidently argue a case in court, negotiate settlements, and explain complex information to clients. He should also have the requisite drafting skills.

Course for this skill:

Improving Communication Skills

This is one of the highest-rated corporate lawyer certification courses offered by the University of Pennsylvania. In the course, you will learn to develop good communication skills and how to use them to your advantage. You will be able to understand what others want and frame convincing and clear answers. The course curriculum covers topics such as Cooperation, Competition, and Comparisons, Gaining and building trust to develop cooperation, Deception, and how to detect it?, and Effective communication.

Duration: 10 Hours

Fee: Free

Platform: Coursera

Also read: BLI-225: Communication Skills by Indira Gandhi National Open University, New Delhi via Swayam

5. Legal and Business Ethics

Ethics is an important part of every profession. Legal ethics serve as a guiding light for lawyers and ensure that they work within the bounds of the law. Similarly, business ethics are the principles that guide a business and help in maintaining good relations with the stakeholders, competitors, etc. A good corporate lawyer must know about legal and corporate ethics, how they regulate their work and must adhere to them.

Course for this skill:

Corporate Lawyers: Ethics, Regulation, and Purpose

This one of the corporate lawyer certification courses offered by the University of Birmingham via FutureLearn will explain to you the role of corporate lawyers and the ethical challenges faced by them. You will be taught the importance of ethics in the legal profession. It will also teach you the purpose of lawyers in society, reconciling public good with client satisfaction, the importance of legal ethics in the life of a corporate lawyer, and how lawyers respond to ethical challenges and pressure faced by them.

Duration: 3 weeks

Fee: NA

Platform: FutureLearn

Also read:

Business Ethics: An Introduction to Ethics for Business Leaders by Dublin City University, Dublin via Futurelearn

6. Contract Law

Businesses operate on contracts. While entering into contracts, various legal considerations have to be taken into account, and compliance with the Indian Contract Act,1872, and other related laws have to be ensured. Thus, a corporate lawyer must be familiar with the various aspects of contract law.

Course for this skill:

CONTRACT LAW: Business Obligations

In this amongst the highest-rated corporate lawyer online courses, you will learn about contracts, and how to form legally binding contracts, analyze and interpret terms of a contract, and the termination of a contract. You will also get to know about what is a contract, the Formation of a contract, various contractual terms, vitiating factors in the contract, third-party position in contracts, termination of contracts, and remedies for breach of contract.

Duration: 1.5 hours

Fee: Rs 455

Platform: Udemy

Also read: Certified Contract Law Analyst by Vskills

7. Knowledge of Competition Law

This is one of the essential skills required for corporate lawyers. Competition is a necessary aspect of facilitating economic growth. However, to ensure free and fair competition, the Government of India has enacted the Competition Act, 2002 to regulate and restrain companies that indulge in anti-competitive practices. Thus, a corporate lawyer, especially a competition lawyer, should have thorough knowledge and understanding of the competition law.

Course for this skill:

Certificate Course in Competition Law, Practice And Enforcement

This course is meant for those lawyers who work in or want to work in competition teams of corporate law firms or as in-house counsel in corporate groups facing competition scrutiny. This is one of the best corporate lawyer courses that will explain to you the applicability of the various provisions of the Competition Act, introduction to competition law, anti-competitive agreements, and abuse of dominance. It will also teach you about inquiry and investigation in enforcement cases, competition law and IP, M&A and Competition Law and international and comparative competition law.

Duration: 3 months

Fee: Rs 30,000

Platform: Lawsikho

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8. Contract Drafting

Every day, new contracts are introduced by companies for taking up new deals, renewing old deals, and building relationships. A corporate lawyer must know how to draft contracts. He is the one who ensures that the contract entered into is legal and fulfils all requirements of the law.

Course for this skill:

Introduction To Practical Contract Drafting

This is another one of the best corporate law online courses that will teach you everything about contract drafting. You will be given transaction-specific training for important business contracts. The course will discuss the Anatomy of a contract, Execution of a contract, and Operative Clauses in a Contract. In addition, you will be taught about Boilerplate’ clauses, Dispute Resolution, Contract Presentation and Review and Contract Negotiation. Key Business Agreements: Non-Disclosure Agreements, MOUs, Employment Agreements, Consultancy, and Services.

Duration: 1 month

Fee: Rs 3,000

Platform: Lawsikho

Also read: Contract Law From Trust to Promise to Contract by Harvard University, Cambridge via Edx

9. Intellectual Property Law

A corporate lawyer should understand the basics of intellectual property law. Nowadays, companies have a large number of intellectual property assets, especially in the innovation-driven sectors. Thus, they look for a lawyer who can handle their IP-related contracts.

Course for this skill:

Intellectual Property Law and Policy: Part 1

Offered by the University of Pennsylvania, Philadelphia via edX, these amongst the best corporate lawyer online courses will help you gain the general idea and theoretical concepts of intellectual property law. The course covers everything about intellectual property, from an overview of the subject to patents and the characteristics of valid patents. It will also discuss some of the policy implications of intellectual property.

Duration: 6 weeks

Fee: Free

Platform: edX

Also read: Law Colleges in India 2022

10. Organization

The job of a corporate lawyer includes various acts. Sometimes he is attending court, managing case files, meeting clients or other times he is drafting contracts, etc. Thus, organizational skills are very important. A good corporate lawyer is one who can do his work in an organized manner, prioritize his work, and meet deadlines rather than working haphazardly. So, organization is one of the must-have skills required for corporate lawyers.

Course for this skill:

Get Things Done: How To Organize Your Life And Take Action

In this one of the top-rated corporate lawyer certification courses, you will learn to create, plan, and complete your projects on time and various techniques and strategies to organize your work and life to increase your productivity. The course covers the Action Map system, Actions and Planning, Triggers, Domains, Reviews, and more.

Duration: 3 hours

Free: Rs 455

Platform: Udemy

Also read:

Leadership and Organizational Behavior by Monterrey Institute of Technology and Higher Education, Monterrey via Edx

Conclusion

Becoming a successful corporate lawyer is no easy thing. But if you are willing to work hard and be determined, you will be able to achieve this goal. Knowing the technical aspects of the law is not enough. You need to have practical knowledge and skills, including commercial awareness, teamwork, communication skills, information analysis and research, confidence, and creative problem-solving skills. You can enrol in corporate lawyer courses to master these skills and embark on your journey to become a successful corporate lawyer. You can choose the best courses by making an online course comparison and excel in your career.

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