22JC01A.qxd 8/21/2012 4:57 PM Page 1 CHANDIGARH | WEDNESDAY | 22 AUGUST 2012 LEGAL CORPORATE LAW LIGHTS GAURI CHHABRA “I had learnt the true practice of law. I had learnt to find the better side of human nature and to enter men’s hearts. I realised the true function of a lawyer was to unite parties riven asunder. The lesson was so indelibly burnt into me, that a large part of my time during the twenty years of my practice as a lawyer was occupied in bringing about private compromises of hundreds of cases. I lost nothing thereby – not even money, certainly not my soul.” So said the greatest lawyer and leader of his times, Mahatma Gandhi. Let us delve deeper into depths of time and bring out fragments of lawyer that the greatest icon of all times had. Do you believe that Gandhi’s being a lawyer helped him in the freedom struggle? What made him metamorphise from a commercial lawyer into a fiery advocate of human rights? The answers to these questions are subtle searches of the soul and one certainty that comes to the forefront is the belief that practising law is an honorable vocation requiring the highest standards of rectitude, integrity and uprightness, and that its practice is in no way inconsistent with the pursuit of truth. With the world becoming flat, to borrow from Thomas Friedman, there is a renaissance of professions, the most common one being that of a lawyer. Today, corporate houses have their off shoots all across the globe. With mergers, acquisitions and joint ventures being the order of the day, legal aspects have become an integral part of every organisation. With it comes an understanding of the legal implications involved in handling a diverse group of people spread across countries and segments. This makes the need for a corporate lawyer all the more acute. Who is a corporate lawyer? Well, it goes without saying that a corporate lawyer is a lawyer who specialises in corporate law. But this field involves a broad spectrum of activities. For example, if a corporate lawyer works for a small corporation, he could be finding himself drafting Wills to some extent, being part of handling a divorce for the employees of that corporation. In a large corporation for example, a corporate lawyer could spend months, if not years, drafting and negotiating a single document or agreement. So, corporate lawyers are involved in all areas of the law; but generally speaking, they do not litigate as much as the trial lawyers. The foothold There is a two-pronged pathway that the students can take up. First, go in for a traditional three-year bachelor’s degree. After obtaining a bachelor’s degree in any discipline, recognised as eligible qualifications for practising law in India, you can go in for an LL.B. The other option is to go in for an integrated five-year — Bachelor of Law (B.A. LL.B) degree course after completing Class XII. To specialise in corporate law, it may be a good idea to pursue a post-graduate law degree or diploma courses in corporate or businessrelated law. To get into a law school in India, one needs to take an entrance exam called the Common Law Admission Test. This is a centralised test for admission to prominent National Law Universities in India. The test is taken after Class XII for admission to graduation courses in law. The twohour admission test consists of objective type covering questions on English, GK, basic mathematics, besides legal and logical reasoning. Both the holders of the three-year degree and of the five-year integrated degree are eligible for enrollment with the Bar Council of India upon the fulfillment of eligibility conditions. Skill set To become a corporate lawyer, you must have strong analytical skills, good inter- personal skills and a keen understanding of the business environment. Though corporate law pays well, it also involves long hours. Keep yourself updated on business developments and changes in the legal environment. Since the business environment changes frequently — particularly with the advent of new technologies — as a corporate lawyer you must keep abreast of any changes in corporate law. Prospects Career as a corporate lawyer has immense scope. Amit Sharma, one of the leading corporate lawyers of Punjab says, “With the advent of many large corporate houses, Corporate Law has lucrative career options for young minds who want to get into a scalable and a secure career.” As a corporate lawyer you can always be associated with a conglomerate and a big corporate house to advise them in legal matters. Your career path would again be bi-pronged with inroads in both. You can either work with a corporate law firm or as an in-house counsel. The former is more fast-paced and allows you to work with a comprehensive Continued on P4 BOOM IN JOB OPPORTUNITIES The most recent trend in the legal profession is the emergence of a number of corporate law firms and LPOs (Legal Profession Outsourcing Companies). Most of these law firms hire bright students in campus placement drives and give them on-job training. Due to the attractive compensation packages, the extraordinary work experience and the work culture/ environment that these law firms offer, a large number of students prefer to join these firms. Another trend that is gaining ground in legal careers is the hiring of Indian law students by foreign law firms. Students from top law schools are being hired directly by foreign firms. These firms prefer to hire Indian law school graduates because of the common law system prevailing in our country besides the fact that the Indian law students are proficient in English and their legal skills are at par with those of their counterparts from other parts of the world. PROF. S. SHANTHAKUMAR, DIRECTOR, ITM LAW SCHOOL, ITM UNIVERSITY(GURGAON) PATTERN OF ENTRANCE EXAMINATION The CLAT tests students on the following criteria: English including comprehension 40 marks General Knowledge/Current affairs 50 marks Elementary Mathematics (Numerical Ability) 20 marks Legal Aptitude 50 marks Logical reasoning 40 marks The question paper is patterned on 200 Multiple Choice Questions carrying 200 marks with the exam duration being 2 hours and no negative marking. Some institutes have their own entrance tests designed with a slight variation. On the whole, the exam is a test of focus, speed and reasoning. WALK-IN INTERVIEW LORD KRISHNA POLYTECHNIC COLLEGE Subhanpur Road, Kapurthala HOD 1 1 — 1 — 1 LECT. 4 4 5 5 6 4 INSTRUCTOR 2 2 2 — 2 — Physics Chemistry Math — — — 2 2 2 1 — — English — 2 — Civil Engg. Electrical Engg. Mechanical Engg. Computer Engg. Automobile Engg. Medical Lab Tech. Qualification & Pay Scale as per AICTE & Punjab Govt. norms. Leave Encashment, higher start for deserving candidates. Experienced & Retired persons will be preferred. Bring the testimonials in original & 2 passport size photograph at the time of interview. No TA/DA will be given for attending the Interview. Date & Time of Interview: 25.8.2012, 11 a.m. to 4 p.m. at College Campus. Er. S.S. Panesar (Principal) TRC-19192 THINKSTOCK PHOTOS/GETTY IMAGES
The Tribune, now published from Chandigarh, started publication on February 2, 1881, in Lahore (now in Pakistan). It was started by Sardar Dyal Singh Majithia, a public-spirited philanthropist, and is run by a trust comprising four eminent persons as trustees.
The Tribune, the largest selling daily in North India, publishes news and views without any bias or prejudice of any kind. Restraint and moderation, rather than agitational language and partisanship, are the hallmarks of the paper. It is an independent newspaper in the real sense of the term.
The English edition apart, the 133-year-old Tribune has two sister publications, Punjabi Tribune (in Punjabi) and Dainik Tribune (in Hindi).