why be a commercial lawyer

• You enjoy working with words. Legal documents tend to be long, complex bodies of text. ...
• You’re interested in the business world. As well as being an expert in law, you’ll need to be a competent businessperson in your own right. ...
• You’re good with people. Commercial lawyers need to be good at forming business relationships. ...

Full Answer

What does a commercial lawyer do?

Dec 12, 2021 · Why Law Firms Ask ‘Why Commercial Law?’ Many candidates believe that the reason why a commercial law firm asks them ‘why commercial law?’ is because the firm in question is trying to see whether the candidate they are interviewing is truly committed to a career in commercial law. Whilst this is not incorrect, it is not the full picture.

Why are you interested in commercial law?

Mar 11, 2020 · I believe a core part of deciding whether to become a commercial solicitor or not stems from having commercial interests. This means caring about the insolvency of a business, threats to business and the impact it has on consumers and public protection, all of which will have an impact on legal issues relating to business.

What should I consider when considering a career in commercial law?

Commercial lawyers are those that deal with commercial and business legal matters. They assist heavily with transactions, documentation and paperwork, but they may also help in other company issues that require motions, actions and issues with the courts. When hiring a commercial lawyer, the person usually owns a business or is a manager of one. These legal professionals are …

How do I become a commercial lawyer?

Nov 30, 2016 · Commercial law is also not limited to only dealing with trade but is expanded to include providing legal tax advice to businesses and individuals, as well as providing good contract law advice that affects every financial transactions.

Why you should be a commercial lawyer?

Commercial law is a secure legal sector that continues to thrive and expand with our economy. Studying commercial law will not only help with research skills, attention to detail and client liaison, but will also give you the skills you need to stand up-to-date with industry news and the economic changes.

Why is commercial law so important?

The purpose of commercial law is to allow commercial activity to meet the demands of the business community. The legal system provides certainty to the process by giving effect to transactions, trade customs and market prices.Aug 13, 2021

What it means to be a commercial lawyer?

Commercial lawyers handle a broad range of corporate deals. Clients of the firm include banks, insurance companies, hedge funds, private equity funds, property companies, governments and governmental agencies. I specialise in financing commercial real estate through loans and capital markets.

What are the three main attributes for a successful commercial lawyer?

Commercial awareness. ... Attention to detail. ... Communication. ... Teamwork. ... Information analysis and research. ... Organisation. ... Creative problem solving. ... Other useful skills.More items...

What do commercial lawyers do?

Commercial lawyers help businesses trade and work on a wide range of commercial agreements dealing with the manufacture, sale, supply and distribution of goods and services, as well as identifying and establishing the best routes to market, which could be via an agency, distribution or franchise model.

Is commercial law easy?

It is an area of law that can be very challenging, however offers almost unlimited rewards if you put in the time and effort into a career in the legal area. A more literal definition for commercial law can also be given that it is a 'body of law that governs business and commercial transactions.

What are the characteristics of commercial law?

Commercial Law Overview It includes laws on business contracts, sale of goods, banking, insurance, finance, partnership, bankruptcy, and taxation. It defines rights and obligations of parties in different types of contracts, such as agency agreements, guarantees, and contracts for carriage, sales and purchase of goods.

How much do commercial lawyers earn?

A newly qualified solicitor in a regional firm or smaller commercial practice may expect to earn around £25,000 to £40,000. Starting salaries for newly qualified solicitors in larger commercial firms and those in the City will be from £58,000 to £65,000, with the larger City firms paying £80,000 or more.Feb 9, 2018

What all comes under commercial law?

Commercial law includes within its compass such titles as principal and agent; carriage by land and sea; merchant shipping; guarantee; marine, fire, life, and accident insurance; bills of exchange, negotiable instruments, contracts and partnership.

What attracts me to a career in commercial law?

Long hours, strict deadline compliance, high-pressure situations, excellent teamwork skills and an ability to sacrifice your life for your work are only part of what commercial solicitors may be expected to do.Mar 11, 2020

How can I be a good commercial lawyer?

Here are the seven steps that you can follow to become a commercial lawyer and establish a successful career:Earn your undergraduate or bachelor's degree. ... Do a vacation scheme. ... Begin networking. ... Create a strong CV. ... Look for training contracts. ... Get work experience. ... Complete your LPC (Legal Practice Course)Nov 8, 2021

What are your strengths as a lawyer?

Below are ten traits that are common to the best lawyers in the United States.Passion for the Job. ... Compassion for Clients. ... Great Communication Skills. ... Willingness to Listen. ... Knowledge of the Law. ... Strong Writing Ability. ... Creativity. ... Good Judgment.More items...•Jun 17, 2019

Why is it important to hire a commercial lawyer?

It is important to obtain these persons as soon as possible to ensure that many transactions are protected and documentation is valid and legitimate. With the use of one of these individuals, it may be possible to prevent disaster and avoid litigation.

What is a commercial lawyer?

Commercial lawyers are those that deal with commercial and business legal matters. They assist heavily with transactions, documentation and paperwork, but they may also help in other company issues that require motions, actions and issues with the courts. When hiring a commercial lawyer, the person usually owns a business or is a manager of one.

What are the responsibilities of a commercial lawyer?

Duties and Responsibilities of a Commercial Lawyer. Lawyers that have specialized in business law have responsibilities to commercial endeavors. This means that they are obligated to assisting with business transactions and ensuring that deals and arrangements are valid and legal. Many of these duties revolve around contract drafting ...

What is commercial law?

Commercial law is about applying legal knowledge to real-life business situations. Understanding why businesses act the way they do and what they are trying to achieve is as important as the legal knowledge you’re bringing to the table. You’re good with people. Commercial lawyers need to be good at forming business relationships.

How to be a lawyer?

Regardless of the practice area you specialise in, there are certain personality traits and skills that are important: 1 You enjoy working with words. Legal documents tend to be long, complex bodies of text. You’ll need to maintain your focus on these documents for hours on end and ensure no mistakes get through. 2 You’re interested in the business world. As well as being an expert in law, you’ll need to be a competent businessperson in your own right. Commercial law is about applying legal knowledge to real-life business situations. Understanding why businesses act the way they do and what they are trying to achieve is as important as the legal knowledge you’re bringing to the table. 3 You’re good with people. Commercial lawyers need to be good at forming business relationships. This is a cornerstone of how law firms work: each partner is expected to win their own business, simultaneously acting as a salesperson for the firm and an expert in their field. As a lawyer at any level of the firm you’ll be expected to market yourself.

What is a GDL?

If you’re studying a non-law undergraduate degree, they provide you training called the Graduate Diploma in Law (GDL). This course condenses the essential legal knowledge contained in a law degree into one year of training, bringing you up to speed with students who have studied law at undergraduate level.

Why are lawyers important?

Lawyers are in a unique position to help individuals, groups, and organizations with their legal problems and to further the public good. Public interest lawyers champion legal causes for the greater good of society and help those in need of legal assistance who might not otherwise be able to afford attorneys.

Where do lawyers work?

Work Environments and Perks. The majority of lawyers work in law firms, government, and for corporations. In an age where cubicles have become the mainstay of the modern workplace, lawyers typically work in offices with four walls.

What is prestige in law?

The Prestige. A career as a lawyer has been a hallmark of prestige for generations. Impressive degrees and a certain authority over others have placed lawyers in an elite circle of professionals who command respect and embody the definition of success.

What is the most rewarding job?

Working as a lawyer is one of the most intellectually rewarding jobs on the planet. From helping to patent a trade secret, or devising a trial strategy, to forming a multi-million dollar merger, lawyers are problem-solvers, analysts, and innovative thinkers whose intellect is crucial to career success.

What are the sub-specialties of law?

Lawyers can specialize in one or several niche areas, ranging from bread-and-butter practices such as employment law , foreclosure law, and civil litigation to specialties such as green law or intellectual property law.

How much do lawyers make?

Lawyers are among the highest-paid professionals in the legal industry, and most attorneys earn salaries well above the national average. The median annual salary for all lawyers was $120,910 in 2018, according to the U.S. Bureau of Labor Statistics, but the world’s top attorneys can pull in million-dollar annual incomes .

Why do lawyers do pro bono work?

Lawyers in private practice often perform pro bono work to help low-income individuals and underserved portions of the population , such as the elderly, victims of domestic abuse, and children. In fact, many bar associations require that attorneys commit to a certain number of pro bono hours each year.

What does it mean to work in law?

Working in the law means that you will deal with people. It is a client-facing industry and you will have to liaise with clients on the telephone, in meetings, via email and at events. This may not appeal to everyone but a good firm will make sure that you are comfortable.

Can you look at a 300 page document for typos?

It may be that looking through a 300 page document for typos and checking cross-references does not appeal to you. If that is the case then I will say that it is likely to happen at least once in your training contract. On the other hand, this is a task you can pass on to trainees once you are a qualified lawyer..