Business Law

Business Law

Degrees offered: M.Phil., Ph.D

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

Undergraduate Level

  • 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

  • The candidate must have a bachelor’s degree from a recognized university or institution. PGD in law can be pursued only by LLB graduates.

  • 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 Subjects

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

  • Property Law

  • Organizational Behavior

  • International Finance

  • Public International Law

  • Cyber 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,

  • Organizational Behavior

  • Business Communication

  • Economic and Management Decisions

  • Quantitative Methods

  • Financial Management

  • 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.

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:

Job Profile

Description

Legal Expert

Provides legal advice, assists in handling conflicts, drafts legal documents, and maintains records for future correspondence.

Law Reporter

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.

Magistrate

Handles small cases like theft, violations and crimes that are considerably small. Reduces the burden of judges.

Public Prosecutor

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

  • Vahura

  • Khaitan & CO

  • J Sagar Associates

  • Luthra & Luthra Law Offices

  • Shardul Amarchand Mangaldas & Co

  • Bharucha & Partners

  • Chadha & Co

  • Advaita Legal

  • Clasis Law

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.

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