- Fees: ₹ 218,875
- Exams: CLAT PG
What is Business Law
The form of law which rules business and commerce is called business law or commercial law. It tends to be a branch of civil law and deals with both private and public issues. There are two different areas in business law, namely, regulation of commercial entities and regulation of commercial transactions.
Regulation of commercial entities is made through the company’s laws, partnership, bankruptcy and agency. The second type of regulation is done through the laws of contract.
Many universities offer undergraduate and postgraduate level degrees in business law for students who want to specialize in it. Undergraduate courses have business law as a part of them, whereas post-graduate courses impart in-depth knowledge about business law. Also, diplomas in business law are available for candidates.
Eligibility Criteria (UG & PG) of Business Law
After class 12 students who want to pursue degrees, undergraduate degrees like BA LLB must possess a minimum of 45% in all subjects and entrance examination is required.
Minimum age limit is 18, and 30 is the maximum age limit.
Some universities demand a particular cut-off to offer admissions. Candidates are eligible only if their results match that cut-off.
Entrance exam-based colleges and universities shortlist students after their performance in the entrance examination.
Post Graduate Level
Candidates must attend the counselling process and selected according to their marks in the entrance exam or bachelor’s degree.
Admission process differs from college to college.
Entrance Exam for Business Law
CLAT LLM - The Common Law Admission Test is conducted to grant admission to the post-graduate courses every year. It offers admissions into the LLM courses in National Law Universities. CLAT LLM is a 2-hour examination comprising multiple-choice questions. The mode of exam is online. Qualifying candidates are granted admissions in NLUs.
ULET - The University Law Entrance Test is directed by the University of Rajasthan offline once in a year. The duration of ULET is 1 hour and 30 minutes. 3-year LLB courses are offered by two university law colleges to students who clear the entrance test.
AP LAWCET - Andhra Pradesh Common Law Entrance Test is for aspirants who look for three and five-year-long integrated LLB courses. AP LAWCET is a state-level online entrance examination for an hour and thirty minutes. It is conducted in English and Telugu mediums.
MH CET Law - Maharashtra Common Entrance Test for Law is a national level exam conducted by Directorate of Higher Education, Maharashtra. Admissions to law courses are offered to law colleges of this state after students pass the examination.
Scope of Business Law in India and Abroad
Those who are interested in legal aspects of commercial transactions such as drafting contracts, insurance, finance, bank guarantees and investments can opt for this course.
Candidates patient enough to pursue higher studies are suited well for this course. Graduates have a variety of job opportunities and employers because every business needs a legal advisor.
The jobs offered are from private as well as public sectors. Those who are always ready to learn are needed for business law since the legal ambience is ever-changing. Detail-oriented people and people who can lead and manage people’s expectations are apt. Post Graduation in business law can get the students jobs in litigation, law firms, government agencies, and banks. Business law meets everything.
Businesses are related to everything. The scope of business law is defined only by you. It’s a prestigious course and provides Rs. 5 lakh per annum for a fresher in business law.
Course Fees Business Law
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BBA LLB, Bachelor of Business Administration LLB is a five-year course that can be pursued after 12th. It is a combination of commerce, economics, business and awareness about the legislature of the country. Few subjects in BBA LLB business law are:
Consumer Protection Laws
Law of Tort
Principles of Management
Law of Crime
Public International Law
MBA in business law is a two-year course with four semesters. In-depth knowledge about commercial laws related to industries, firms and organizations is involved. Syllabus of post-graduate business law comprises of,
Economic and Management Decisions
Operations Research and more
Careers in Business Law
An undergraduate degree in law for five years can give the graduate Rs. 3- 5 lakh annually. A Bar Council License is required for a lawyer. It is reported that there will be a 6% increase in job growth of lawyers from 2018-2028.
Various job roles are offered to business law graduates with experience and skill. Majority of the graduates go for further studies in law.
Government legal service and armed forces legal service allow serving for the government. Business law is one of the prestigious ways of serving the people and the government. This sphere of law has many opportunities and specializations for the students to choose from it.
Popular Online Law Courses and Certifications
The industry is ever evolving and in order to understand what needs to be done in the future in addition to predict and recognise a pattern it is essential to know what are the trends in the industry' some of which we have mentioned below.
Online Work and Freelancing - As the world has become dependent on smartphones, lawyers have been increasingly taking advantage of working online. In the coming years, there’ll be a drastic increase in lawyers working from home. Those who work in an office are becoming less as lawyers have begun to freelance. Legal freelancing is a feasible career now.
Paperless - Documents which were filed and papers were carried to courts by lawyers have now dwindled. Laptops and iPads have replaced papers. In future, even the traces of paper in law firms would be replaced with iPads and laptops as information is much more accessible through them.
Social Media - Social media has taken marketing to the next level. Businesses have already been benefited by social media. It helps the growth of business with easy steps.
Security - Cyber attacks are too common these days, and hackers will continue to enhance themselves with tactics. Lawyers are staying ahead of attackers with vigilance on cybersecurity. Data security has got a new threat, lawyers also defend it.
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Job Profiles and Top Recruiters
Job Profiles in Business Law Sector
Demand for highly professional business lawyers is huge. High business involves high risks and mishaps are more likely to happen. Firms hire a business lawyer for legal advice and guidance, writing contracts etc. to help them out because they know not when they need them. Job profiles with good pay with their descriptions are mentioned below:
Provides legal advice, assists in handling conflicts, drafts legal documents, and maintains records for future correspondence.
A Journalist who does reports about the law. They also comprehend the legal matter and convey it to the public.
Advocate and Attorney General
They provide legal advice to the state/central government on all legal matters.
Handles small cases like theft, violations and crimes that are considerably small. Reduces the burden of judges.
An officer who helps in the administration of justice. Also helps in finding the facts of the case. He/she has to be unbiased, fair and honest.
Law- Assistant Professor
Develops and implements professional methods to improvise student performance. Guides lead and motivate students.
Top Recruiters in Business Law Sector
Business law graduates are hired by many legal firms, organizations and educational institutes. Some hire them for legal advice purposes and others for inculcating law in young minds. Among the innumerable recruiters for business law, top recruiters are mentioned below
Khaitan & CO
J Sagar Associates
Luthra & Luthra Law Offices
Shardul Amarchand Mangaldas & Co
Bharucha & Partners
Chadha & Co
Establishing a career in business law is worthy in many ways. It has multiple career options, financial stability, respect and prestige. There’s no lack of financial rewards. Some of the job profiles’ in business law and their average salaries are mentioned for reference purpose.
Rs. 3-5 lakh p.a. (Approx.)
Rs. 1-3 lakh p.a. (Approx.)
Rs.12- 15 lakh p.a. (Approx.)
Law Assistant Professor
Rs. 3-5 lakh p.a. (Approx.)
Rs. 4-6 lakh p.a. (Approx.)
Rs. 3-5 lakh p.a. (Approx.)
Human Resource Managers
Rs. 7-9 lakh p.a. (Approx.)
Required Skillset for Business Law
Business law requires a sharp-witted mind, outstanding communication skills and archaic writing skills. Understanding the client’s needs is important, and the lawyer must possess a service mentality.
To deal with transactions and make decisions, numerical ability, analytical skills, researching skills, business awareness, confidentiality and problem-solving abilities are necessities. A business lawyer is an embodiment of the above-mentioned qualities.
Commercial awareness, one of the principal attributes to be possessed by business lawyers. Local, national and world businesses are to be known by lawyers to handle their impact on a firm or its clients.
Teamwork is often the key to win a case. Lawyers must have the potential to win the trust of their clients so that they share personal matters politely.
Details must be given attention. Examining your emails, letters, and documents must be done before they reach the clients’ eyes.
A misspelling or grammatical error gives a bad impression. Public speaking ability is essential when arguing in a court and explaining information to a client.
Reading a bulk amount of information and grasping facts and clues from it is a chore and a reputed lawyer does this with ease.
Finally, all the hard work put on a case has to be organized well to reap success.
Course Curriculum for Business Law
Business law course is devised to produce professional business lawyers who can help various businesses with their legal advice.
A deep foundation is laid on business governance and business liabilities.
Practical difficulties faced by businesses, legal obligations and regulatory frameworks are taught.
Contracts, transactions, bankruptcy, banking, trade regulation, competition, finance and intellectual property are covered in a business law course.
National and international business is given importance in this course. Students who are interested in an international business affair can be greatly benefited from this course. Various aspects of civil law are taught to students.
Accountant, lawyers, business professionals and entrepreneurs can boost up their talent in law through post-graduate business law courses.
Economy, unemployment, human development and inflation are included in business law curriculum.
Popular Business Law Entrance Exams in India
Popular Business Law Colleges in India VIEW ALL
Frequently Asked Questions (FAQs)
Question: What are some reputed colleges to pursue business law?
There are many reputed institutions in India offering business law courses. To name a few, National Academy of Legal Studies and Research (NALSAR) Hyderabad, National Law Institute University (NLIU) Bhopal, The West Bengal University of Juridical Sciences (WBNUJS), and Rajiv Gandhi National University of Law (RGNUL )Patiala, School of Law.
Question: What is the difference between business law and commercial law?
Commercial law deals with sale and distribution of goods and financing of particular transactions. Business law deals with the formation of a company, mergers and shareholder rights. That is business law focuses on business aspects, property issues such as leasing office or warehouse space.
Question: What are the diploma courses in business law?
There are various diploma courses in business law, Diploma in Business Law, Diploma in International Business Laws and Corporate Laws, Diploma in Entrepreneurship [Administration and Business Law, Diploma in Business Laws and PG Diploma in Business and Corporate Law.
Question: Is business law difficult?
It is not very difficult. Mostly, business law deals with general transactions that business will face necessary obligations that they have to discharge usually. It is very interesting as it advances. It covers many concepts related to handling and making decisions on financial elements and business decision making. Law modules help students learn how to distinguish right and wrong cases. Case studies are more fun to learn. All these sounds easy; business law can’t be that tough.
Question: What is the importance of business law?
Businesses done without legal means can fall prey to those who stand for law. The law asks everyone to stay under one framework and puts forth a way how every business should act, operate. It holds people, businesses and the government accountable for their actions.