Are you prepared for being in a lawsuit of any kind that may affect your business? Do you even know if your business in it’s current state of success has the right classification? These helpful questions may or may not be things you’ve not thought about. Having a good attorney selected can help answer them all.

It’s very important not to wait until you need an attorney to have one selected. Most business attorneys understand that they may only be needed at certain times of the year and/or if a problem arises. Therefore, don’t be embarrassed to let an attorney know that you’re doing a search to have a qualified lawyer in your corner, should the time come up. The attorney will probably be flattered that they are being considered and usually won’t put you off just because you can’t hire them today.

If you’re just starting out you may want to look for a small firm or a solo practitioner. However as you grow and perhaps need a business office other than a home office, you may need a larger firm with several attorneys who have skills in areas like zoning and negotiating leases for retail space. Of course this will cost more, but as you grow, consider the money spent on a business attorney as an investment and not an expense.

Of course this is a mental exercise to help you feel better about paying the fees, the amount you pay to your attorneys can of course be listed as an expense for tax purposes. The affiliation with a larger firm can really be intimidating to say someone trying to used your trademarked logo. So again, as your company grows consider hiring a business attorney from a larger firm as an investment.

Business attorneys at firms small and large usually have a specialty. Be sure to ask what the area of specialty is for every person you speak with. For instance you may be a freelancer who has to prepare and sign lots of contracts. There are business attorneys who specialize in contract preparation. Make sure that this attorney also understands the nature of your sector or industry so that contracts are in line with the work you perform.

Business organizing and licensing is another area that attorneys concentrate in. You want to make sure your business is registered properly and that you have all the necessary licenses to be in compliance with the law. A business attorney who specializes in this area, can help explain why your business may be best listed as an LLC, as opposed to a Corporation and so on.

Attorneys who special in real estate for business are invaluable when you’ve outgrown your current space or home office. They can help you negotiate lease terms and make sure your new business is in an area properly zones for you particular industry. You don’t want to take chances with your office space. If you are leasing this space, it’s good for your potential landlord to know that you have an attorney in your corner. This will prevent misunderstandings going forward.

So what are the charges for these type of services? It’s good to know that you can pay a flat fee for many services listed. You have to be savvy however and negotiate with your attorney, just as you would with anyone else. Many won’t offer a flat fee unless you ask and if you feel the price is just too high, be pleasant, thank them for their time and let them know you’re going to continue your search. Attorney’s can suffer from a bad economy just like everyone else, so you may be surprised that a bit of haggling may bring a flat fee rate down to your current budget.

Make sure you treat this contract with your attorney just like your other contracts, get it in writing. You may also want to hold back on paying the amount in totality up front. Also ask if you can check references and/or get the names and numbers of others they’ve represented in similar industries and fields as yours. Please keep in mind that issues that concern ongoing time, will probably not be eligible for a flat fee. For instance if you’re in litigation with someone, your business attorney will have to charge an hourly rate. Again, make sure whomever you hire specializes in your situation or you could be wasting large amounts of cash for little or no help.

Question is, do you know the difference of each and if you are operating as any of these entities, are you certain that it is the most appropriate structure for your business? Once you have determined your most appropriate business structure for your company, how do you ensure that you are compliant and if the need arises, how do you defend yourself against legal suits?

Nature of Work

To help you select the most appropriate business structure and help your business remain complaint with all applicable laws, you should obtain the services of a corporate business attorney. The corporate business attorney protects your business assets and gives advice on applicable laws. Furthermore, the corporate business attorney leads or supports any required legal defense of the business and is a resource during business transaction negotiations.

A Corporate Business Attorney prepares documents pertaining to business planning, such as contracts, litigation, employment law and even immigration law. Additionally, corporate attorneys advise businesses and corporations on issues related to taxes, discrimination, harassment, corporate governance, and other business related issues.

Specialties

Corporate Business Attorneys sometimes specialize in particular areas –if you are able to obtain an attorney who is knowledgeable in many areas, you are off to a great start! Areas in which you must be certain that your business attorney is knowledgeable are business organization, which was discussed earlier, contracts, and taxes.

Contract attorneys deal with agreements between parties and negotiate the agreed upon components by which each party must abide. These agreements may include the actual creation of a sound contract, renegotiation or termination of a contract, defense of a breached contract and suit for breach of contract. For example, your corporate business contracts attorney can help you create a contract to start your corporation or terminate your limited liability partnership.

Tax laws are confusing for many individuals and even more so for businesses. Tax attorneys make certain that the business is aware of all business tax concerns. Some of these concerns may include the applicable tax year, state, federal, income, payroll, property, estate and even gift taxes. Your corporate business tax attorney will ensure that you are in compliance with all tax regulations—both at the state and federal levels. And, if the need arises, your tax attorney will defend and support your business in cases brought by the IRS.

Some other key corporate business attorney specialty areas include Real Estate, licenses, and intellectual property. Real Estate attorneys address issues concerning property including, zoning, closings, tenants, foreclosures, title searches and encumbrances and intellectual property attorneys address trademark, copyright and patent laws.

Fees

Attorney fees are either fixed, flat, hourly or contingent. Fees are charged based on the corporate business attorney’s location, areas of specialty, experience and the amount of time the attorney spends on your case. Often, the more specialized the attorney’s services are, the more expensive the rates will be. In house counsel salaries will depend on several factors including the size of the company and the attorney’s experience. Attorneys who charge an hourly rate may charge as low as $35.00 per hour or as much as $1,000.00 per hour.

According to the Unites States Department of Labor, as of May 2008 the average hourly wage paid to corporate business attorneys was $72.99 and the average annual salary was $151,820. Attorneys received highest paying salaries in District of Columbia, Delaware, New York, California and Illinois. Attorneys commanded the highest hourly wages in San Jose, CA, Sunnyvale, CA, Santa Clara, CA, Santa Rosa, CA, San Francisco, CA, San Mateo, CA, Redwood, CA, Rockford, IL, White Plains, NY, and Wayne, NY.

Clearly hiring an attorney is expensive and you must research thoroughly before you select the ideal attorney for your business. Even more costly however, is operating your business without legal representation. Litigation settlements can range in the millions and even higher. Somehow, a corporate business attorney salary of $150,000 seems really minute when compared to a million-dollar settlement!

These services can be very comforting for a small business owner, especially during an unforeseen action against your small business where you will need an attorney to defend your business should it be served with a complaint.

Small business attorneys and lawyers work within the area of law that engages in the formation, needs and requests of small business. A small business can include any type of venture or doing commenced for profit. The most common small business endeavors include:

Sole proprietorship – full ownership by only one individual.

Partnership (typically a limited liability partnership, but can be a limited partnership, or general partnership).

Corporation – can either be the default C Corporation or option an S Corporation tax election. These types of corporations can also apply to sub-chapters or sub-corporations.

Limited Liability Company (LLC) – This is a hybrid configuration which limits the personal liability of business owners while preserving the flexibility and some tax advantages of a partnership or sole proprietorship.

A small business is, according to established size standards, simply a business that is thought of as small. The Small Business Association (SBA) has established these size standards for many industries in our economy as follows:

$12 million for all special trade contractors

$6 million for most retail and service industries

$0.75 million for most agricultural industries

100 employees for all wholesale trade industries

$28.5 million for most general & heavy construction industries

500 employees for mining and manufacturing industries

There are other laws and requirements pertaining to companies that are considered small businesses. For instance, there are a number of laws and regulations specifically applicable to how small businesses are to be operated and started. In any case, when starting a new business or expanding a small business, you ought to consult a small business attorney who specializes in your particular type of businesses formation. A qualified and experienced attorney will be able to easily answer any legal questions you may have pertaining to your small business.

Another way small business attorneys can be of service to a small business is to help the company with structural changes should the business decide to form a partnership or incorporate. In these situations a small business attorney can help by advising on the business formations that would fit best the needs of you company. In addition, an attorney that is experienced can easily assist you with the needed legal filings and paperwork.

The regulations and laws that a small business are required to follow mostly depend on the state in which the small business is started, the legal formation of the business like sole proprietor, or partnership, or corporation, and the nature of the business activity including products sold or services provided. Since the law changes frequently, it can become very time consuming and distracting to have to maintain an up to date checklist of all laws and regulations as a business owner.

Therefore, if you have your own small business, or are thinking about starting a small business, it would be best if you were to retain a small business attorney or lawyer to keep you informed on the changing laws and to give you advice and counsel you on what to do to stay compliant with all laws relating to your small business. Furthermore, a small business attorney will be ready to represent you legally if any issues arise.

There are many facets of business litigation, including fraud and disputes over intellectual property. Instances of fraud can include situations where an individual feels that a mortgage broker fraudulently represented a property during a real estate transaction or if the contract process was handled improperly; disputes over intellectual property can include cases of copyright infringement or patent problems.

Then there are issues between businesses and insurance companies. For example, if an insurance company undervalues or denies a fair claim from a company, the company can seek representation of a business litigation attorney to try and recover the money through the process of business litigation.

Business litigation is not the first recourse when a dispute between businesses arises; in fact, business litigation can be a long and expensive process, and the avenues of negotiation and arbitration are always attempted before taking the case to court.

When two entities have an issue, they first try to solve the problem themselves through negotiation. In the example above of a dispute between a mortgage broker and a homeowner, negotiation may include the homeowner asking the mortgage broker to revalue the property in question to a price they feel is correct, or refunding the difference back to the homeowner. The mortgage broker can make an offer as a negotiation, accept the homeowner’s demand, or refuse it completely. If the demand is refused outright, then the homeowner can take the next step, arbitration, to seek restitution.

In arbitration, the two parties would bring their positions and evidence to an independent third party, usually an odd-numbered panel of professional arbitrators, and let them decide the issue. Once the issue is decided in arbitration though, the decision cannot be appealed, is binding, and final. If, for some reason, the parties will not go through the arbitration process or arbitration is unsuccessful, business litigation is the next step.

In business litigation, the steps involved really depend on the issue at hand. In the mortgage broker example, there would most likely be issues at the beginning of the process regarding contractual obligations. Each party would hire a business litigation attorney, a lawyer who specializes in the field of settling disputes between businesses in a court of law, who would act on behalf of his or her client—one of the businesses involved—who would become familiar with the parties and documents involved as well as the dispute at hand.

The business litigation attorney would look through the contracts involved to see if the homeowner had a fair claim, meaning there was some sort of wrongdoing, and evaluate whether or not there was a contract breach. If one occurred, it would be up to the state’s rules of civil procedure to dictate the next step. In many states there are many avenues for the plaintiff to seek restitution, and it would be up to the litigation attorney to decide which available avenue would be most appropriate for the case at hand. In cases where the issue cannot be solved through court motions and further negotiations between the attorneys and their clients, a trial can occur in front of a judge and jury, or just a judge, depending on the circumstances.

This avenue really is the last and least desirable one, because it can become very time consuming and extremely expensive for all parties involved. If the situation should come to that, both sides would present their evidence and testimony of the issue at hand to the judge and/or jury and let the appropriate party decide the case and make the award. Once the award is made, the appeals process can continue on, stretching the case out even more. Some business litigation issues go on for decades with no real resolution.

Business litigation attorneys focus solely on handling disputes between companies and individuals and companies. They must be familiar with their state’s civil procedures, as this is where business litigation issues are heard. The business litigation process really is a process executed when all other solution attempts fail, and individuals involved in these situations often retain business litigation attorneys to represent their interests through the dispute and resolution process.

To become a tax lawyer an individual can take many routes; the most direct is to attend an accredited law school and graduate with a Juris Doctorate—JD—degree with a specialization in the area of tax law. Oftentimes, individuals graduate from law school without specializing in the area of tax law but decide later on in their careers to expand their area of expertise and then take further coursework to familiarize themselves with the field. Other tax lawyers began as accountants or CPAs who wanted to further their careers with the expansion of their expertise into the field of law.

Such individuals must still seek out a law school, apply, complete the appropriate coursework, sit for and pass their state’s bar exam, and become licensed to practice law in their chosen state; their advantage is that they are already familiar with tax codes and the field of taxation; they are simply supplementing their knowledge with the laws pertaining to the area.

Whatever path the individual chooses, upon graduation and successfully passing the bar exam, a tax lawyer needs to focus on building his or her practice; that is, attracting clients and winning cases. Because the area of tax law is a private practice, such attorneys need to have good marketing skills as well as skills to represent their clients well. Once the clients are attained, new tax attorneys must focus on doing what is best for their clients, which will begin to build a good reputation and hopefully bring in more clients.

The clients of tax attorneys are individuals as well as business entities. While it is common for many businesses to have CPAs who handle their tax obligations, the complexity of the federal and local taxation structures can make the task of documenting and filing returns confusing, sometimes landing both individuals and businesses into trouble with the IRS or local taxing authority. When such parties find themselves in a situation they cannot handle themselves, consulting a tax attorney is the right choice.

A potential client makes an appointment to see a tax attorney about their issue. Some tax attorneys charge a consultation fee, while others do not. During the first consultation, the attorney looks at the situation and considers what the best course of action is for the potential client, and what the attorney can do, if anything, for them. After some discussion about the situation and some consideration, the tax attorney will decide what he or she will do and how much it will cost.

There are three types of fee schedules most tax attorneys use; the type chosen largely depends on the special circumstances of the case, how much work is anticipated, and the affordability of the services for the potential client. The three most common structures are flat-rate, or “fixed”, retainer, and hourly.

For situations such as filing a return, the tax lawyer would probably chose the flat rate fee schedule, telling the client it will cost them a set amount to complete the task. For circumstances that are more complicated, such as those that would involve discussing the case with an IRS agent, the hourly rate is most likely. The attorney would set an hourly rate and then keep track of the hours he or she spends working on the case, and send the client the bill when the case is closed.

The retainer schedule is most common in businesses who anticipate the need for a tax attorney for many issues over a long period of time, or for all of their tax issues all of the time. This contract typically involves a lump sum due up front, and then either a refresher retainer due on a set schedule or a transition to an hourly rate at some point, and the business would just have to budget the attorney’s fees into their regular operating costs.

Tax attorneys play an important role in both the legal and political fields. They require a fair amount of specialized education, must work to build their own business and keep their clients happy, practice law, and run their own daily financial obligations. Individuals and businesses that need their services are grateful such attorneys are available should they find themselves in tax trouble.

Job Description of a Business lawyer

These type of lawyers deal with all aspects of business, banking and financial law, business information and organization, negotiations, planning, transactions, acquisitions, mergers, sale of businesses, litigation, environmental law, intellectual properties, labor and civil law. Business attorneys can work with all types of businesses, sole proprietorships, partnerships, corporations and (LLC’s) Limited liabilities companies.

Degree Requirements to Become a Lawyer

An individual needs to complete a four year degree at an accredited college. The degree can be in a number of subjects, history, English, politics, science, criminal justice etc. There is no specific degree required to get into law school. The next step is to get into an ABA- American bar association accredited law school. This will be about a three year program depending on the specialty.

The test needed to get into law school is the LSAT-Law School Admissions Test; this must be passed in order to be accepted into any law school. The law school will look at the LSAT scores, undergraduate grades, work experience and results of a personal interview, all of these will determine whether a student is accepted or not.

Subjects Studied in Law School

The subjects that will be studied in law school vary but the basics are; property law, family law, estate law, contracts, mergers, juvenile law, justice, divorce law, civil rights, corporation/business law, criminal law, tax law and litigation. Once a student gets through all three years of courses, engage in an internship and other experiences they are ready to take the written bar exam.

There is also Multi-State Bar Exams (MBE) which will allow a lawyer to practice in several states. This exam will take 6 hours to complete. Then there is the MEE- Multiple Essay Exam that takes about 3 hours to complete. Some states may also require that the MPRE-Multiple State Professional Response Exam be taken as well. This exams test the ABA code knowledge of the individual.

Types of Businesses Lawyers Work In

Business lawyers can work in the government, with independent firms, or they can be in house lawyers, consultants or they can work pro-bono. The salary of business lawyers can vary from $40,000 to $120,000 depending on the location and type of clients served.

Conclusion

In order to be a good lawyer regardless of the specialty you have to enjoy working with people, be creative, be able to reason well, be able to think on your feet, and be willing to study for seven years in school and for a lifetime after that. A law student must be able to withstand taking several types of exams and pass them with proficiency in order to pursue this career. A high school student that knows this is something they want to do, they can enroll in a business degree program to prepare them for business law and this may give them a leg up into the world of business law.

Business lawyers can work for small businesses or large corporations, in either case they may help with all aspects of the business from planning to business negotiations, to acquisitions. Some lawyers end up working for themselves and opening up their own practice this may be another suggestion for a student once they pass all of their exams after law school.

It is an unfortunate fact that in 2008, over 650,000 small business declared bankruptcy or closed when only 627,000 new small businesses were able to begin operations. A business attorney will charge you much less money to keep your business out of trouble than they will if you’ve already let a problem occur.

Generally, a small firm will cost less. However, it may be worth the extra investment to hire a larger law firm. Larger law firms tend to be more specialized, and a solo practitioner may not have the business knowledge or experience keep your business not just floating, but growing.

Whether you decide it is worth the extra protection to pay more for a larger firm, or choose a smaller firm, most will allow you to meet with them for a free consultation to discuss what they can do for your business and what costs will be associated. Remember, investing in a pricier lawyer may save you money in the long run. You can occasionally pay for a business attorney’s service fees through monthly payments (sometimes with interest), but usually lawyers charge an up-front cost.

Always make sure you understand when the flat fee is to be paid, and if it covers the lawyer’s out-of-pocket expenses (like mailing documents overnight and filing fees). It is smart to ask to hold back on paying about 10% or 20% of the up-front cost in case the lawyer fails to do the work satisfactorily. A good business lawyer will grasp how your business operates rapidly.

They should be able to easily create standard contracts that you will frequently want to use. They will help you understand contracts other businesses want you to sign, and make sure you are not putting yourself into an unwanted bind. A good business lawyer can help you organize your business. For example, they can help you organize as a corporation or a limited liability company (LLC), and prepare the needed paperwork. Making the right choice between LLC and corporation can be confusing, and will affect your bottom line in many ways. It will affect what you pay for taxes, as well as your ability to seek money from investors.

A business attorney will be able to look at your potential future scenarios your business may face, and determine what route is best for you. Many business owners don’t realize that leases for business organizations are quite negotiable. Your business lawyer can help you get the best leased space for your money, and ensure that you are covered under certain provision that the landlord may have not originally included in the lease. With your business attorney, you can add a tenant’s addendum to your lease and rest assured that the lease is fair.

Even with an accountant, small businesses need a business attorney to help keep taxes and licenses in order. They should register your business for state and federal tax identification numbers, and be on the look out to ensure mistakes aren’t made with taxes. A business lawyer will also ensure that you retain your intellectual property, and do not accidentally cross into the boundaries of using someone else’s intellectual property. It is a strong business advantage to have your products and services registered, trademarked, and copyrighted. For example, a small business may decide to manufacture beverages in a curvy bottle, skinniest in the middle.

A lawyer might look at your design and discover that it is infringing on the intellectual property of Coca-Cola, who has their signature bottle design patented. Surely, you’d appreciate your business lawyer’s insight on this situation before you are delivered a cease and desist letter, or even a lawsuit, from a corporate giant like Coca-Cola. A business attorney is a worthwhile investment for any small business owner wanting to eliminate risk and increase protection.

business attorneys represent their clients by filing briefs with the courts as well as other legal documents that are required. They can also give legal advice and negotiate contracts and other business agreements. All businesses need a business attorney. An urban area is known to be the best area for a business attorney to practice as they are more likely to find higher profile clientele and larger cases in an urban type setting.

Obtaining a career as a business attorney requires a juris doctor, also known as a J.D. business attorneys can specifically concentrate on the Business type of Law during their years at law school, or they can also obtain a post J.D., Master of Laws. A certification that would qualify them to be able to work in the field. A business attorney can find their career in representing a small business, as a corporate attorney; merger or contract specialists, or they can start their own businesses.

A Career as a business attorney

Prospective business attorneys must earn their bachelor’s degree, followed by their J.D. Law school can typically take 3-4 years to complete. business attorneys sometimes choose to further specialize in the field. This is done by earning a post J.D. This will usually add an extra year to their studies.

As with all attorneys, business attorneys must obtain their law degree and pass the bar exam in the state which they plan to become employed. They should have full understanding of the issues related to business organizations, in all the areas of law listed above. Employers look for individuals who have strong communication, organizational and interpersonal skills. As technology is playing a greater role, attorneys must be computer literate and familiar with legal databases used for accessing information online.

business attorneys have to be persuasive individuals who possess strong skills in negotiating. They must possess the knowledge to understand extremely complex processes, apply legal principles to business situations, and be able to advise businesses concerning their legal rights and various courses of action for navigating the court system.

Types of Business Law

A specific type of business attorney is as a general counsel for a company (the head of its legal department), particularly in a Fortune 500 company, general counsels can receive huge compensations. According to a very reputable magazine, a 2008 survey of the one hundred highest paid business attorneys serving as general counsel showed an average salary of $567,195. General counsels are also eligible for substantial bonuses, stocks in the company, they might even exceed their salaries particularly if their company they are working for performs well.

Although it tends to be an extremely competitive field, the outlook for business attorneys is good. The increasing level of business activity does create more legal transactions and there is an increasing demand for legal services in business related areas, such as intellectual property, venture capital and antitrust law.

Salary for a business attorney

According to very reputable websites, starting salaries for business attorneys were in the $60,000 range annually. With the latter being over $102,000. Job opportunities for business attorneys are expected to grow at an average rate. However, business attorneys must keep up with changes in law to remain competitive in the field.

business attorneys working as corporate counsels had an average salary of around $108,180 per year. business attorneys working as corporate attorneys made about the same, with an average of around $107,720. According to 2008 figures from the Bureau of Labor Statistics, the average annual salary for all lawyers (that is, not just business attorneys) was $110,590. The highest paid lawyers earned more than $166,000 yearly which breaks down to more than $80 per hour.

So if you’re thinking about a career in the field of law, business attorney might be the right fit for you.

Bankruptcy is a legal process that seeks to help your business pay its debts under the supervision and protection of a bankruptcy court. Depending on what Chapter you choose to file under the process is described as liquidation or “reorganization”. Deciding which option is best for your business is a choice you should make with the help of an attorney. An attorney can provide you with specific legal information pertaining to your case, and offer valuable advice on your best options.

There are three main types of bankruptcy or chapters you can file under depending on your business’ structure: chapter 7, chapter 11, and chapter 13. If you are the sole owner of a business your business is an extension of yourself, which means you are personally responsible for its debts, and you can file under all three chapters. Partnerships and businesses with a corporation structure are a separate legal entity from their owners, and can file under Chapters 7 and 11.

Let us now look at each Chapter separately and see their “benefits” and drawbacks.

Chapter 7

This type of bankruptcy is often called a liquidation of assets. It is best used when the business has no chance of making a comeback, and there is no benefit in restructuring the firm. This is the case when the debts incurred by the business are so large there is no chance they will ever get paid.

If you are the only owner of a business that is deep in debt, without chances of recovery, and the business is pretty much an extension of your “working skills” it often does not make sense to try to reorganize, or restructure it. For instance, if you own a plumbing business that is failing, where you are the main worker, and do not have many assets linked to it, Chapter 7 could be your best option.

When you file for Chapter 7 the bankruptcy court appoints a trustee to take control of the business’ assets and divide them between the creditors. The main advantage of filing under Chapter 7 is that once the business assets are distributed the owner gets a “discharge”, which means he is released from any responsibility for the debts. This is not an option for partnerships and corporations; they cannot apply for a “discharge”.

Chapter 11

This is the type of bankruptcy businesses that still have a chance of making it apply for. When you file under Chapter 11 you get a court appointed trustee that files a “plan” to deal with creditors in the fairest and most equitable way possible. The main advantage of this option is that the trustee can be the owner of the business, which allows him to keep control of his company through the bankruptcy. The plan can reorganize the business, and payments to creditors over long periods of time that can even exceed 20 years.

It is a good option for companies that go through “bad times”, but are still a potentially profitable business. The drawbacks on this option are that Chapter 11 plans must be voted on, and approved by the creditors. They are generally very complex, and can take a long time to get approved. A typical Chapter 11 bankruptcy takes a year to get approved, and not all succeed.

Chapter 13

This is the option most often used by consumers, but can also be applied for by sole proprietorships. The main differences between filing under Chapter 13 and Chapter 7 are that with a Chapter 13 bankruptcy you can still keep some of your assets, like your home, or your car. When you file for this type of bankruptcy you must provide a feasible plan that describes how you will pay your creditors. How much you will have to pay will depend on your income and the assets you own. This method can help sole owners of failing businesses, whose assets are intertwined with their business to keep their homes or other vital assets.

Deciding if to file for bankruptcy, or under which Chapter, is a very important decision you should discuss with a qualified attorney. There might even be alternatives to bankruptcy, so make sure you are taking into account all your possibilities.

Work Environment

The setting is similar to other office based jobs. Typically, large companies hire an entire team of lawyers and attorneys. Usually, the head of this legal team is offered a VP status who also attends official board meetings. Although rare but a business attorney is sometimes expected to work on weekends and even holidays. Apart from private companies, a large number of business attorneys also work for hospitals, non-for-profit organizations and private practice firms. Most of these jobs are located in major metropolitan cities where headquarters of large companies reside.

Education & Professional Requirements

Nowadays, a four years Bachelor degree is required by almost every employer to be considered for a job as business attorney. Although most job advertisements will indicate Bachelors as a minimum requirement but large and reputable organizations only consider Master degree holders as serious candidates. In spite of such emphasis on high level degrees, companies are ever willing to induct people who have real world experience rather than just a degree. All law students must take specialized courses including business law, taxation, insurance law and e-business courses. Apart from holding professional degrees, business attorneys must pass the State Bar exam in order to qualify for legal practice in that particular State.

Beginnings of a Career

Many business attorneys start by working as junior corporate attorney which does not require Master level degree and also provide the necessary career track needed to excel. Moreover, it is not uncommon for students to locate internships and continue their studies while advancing on the corporate ladder.

Students also find it convenient to enroll in reputed law organizations which make it easier for them to gain credibility and build important contacts. Local law libraries also provide opportunities to become a research assistant. Becoming a junior court clerk is another pathway to experience court proceedings, firsthand. Still, others locate opportunities to work with lawyers and attorneys as an assistant.

Self employment

Self employed business attorneys are hired by companies to work on a contract or on case by case basis. Often, these self employed business attorneys work for several clients, in conjunction. Many large multi-national corporations hire dedicated team of lawyers to guide them, accordingly. It is also not uncommon to find full time business attorney working for small to medium sized companies.

Salary & Future Prospects

As companies find themselves dealing with ever increasing number of corporate lawsuits, the need to hire business attorneys have also increased. Although getting a degree and passing all professional exams may take time but once a business attorney gains full credentials, the rumination package gets attractive. As of 2010, basic starting salary for most business attorneys exceeds $55,000. A fresh graduate is expected to earn anywhere from $45,000 to $90000. The pay scale increases with years of experience.

Typically, major differences in pay scale become imminent after five years of practicing when most business attorneys can expect at least a 50% increase from their original pay. Apart from this basic pay structure, business attorneys working for corporations are entitled to health, insurance and retirement packages, as any other employee. As for self employed business attorneys, they do not get these benefits but they get compensated by making their own work schedules and demanding higher pay per case.