Career as Corporate Lawyers

Corporate lawyers needed

 

THE BIRTH OF POWERFUL AND AGGRESSIVE DOMESTIC CORPORATIONS HAVE CREATED A NEED FOR CORPORATE LAWYERS IN INDIA

 

ACROSS the globe, there has been a distinct rise in the number of students who take up law as a profession, making this third wing of the democratic system, one of the most sought-after careers. 

   Still, the image of lawyers as people wearing black coats, hanging around musty civil courts waiting for work, prevails. In reality though, lawyers today are not only making news, they are also making more money than ever before. 

WHAT IS CORPORATE LAW? 

Vineet Budhiraja, who has just completed an LLM in Competition Law from the University of London, explains,"Corporate law connotes law of companies or corporations. It deals with all matters, from the birth of companies to their dissolution. Corporate law has wide scope in terms of legal practice, as it includes issues related to floatation of companies, corporate restructuring, and corporate governance, among others. Most law firms organise themselves into different practice groups or departments." 

   As a corporate lawyer, you need to be commercially oriented, as well as have a good understanding of the law. Hence, understanding your clients' businesses and the industry sectors is essential. 

   Prateeksha Toshniwal, a practising corporate lawyer, shares,"A corporate lawyer's client base is very varied and typically includes entrepreneurs, privately owned businesses, as well as large multinational corporations like pharmaceutical giants Glaxo-SmithKline and BP.Most corporate lawyers also act for a range of financial institutions, including high street banks and investment banks." 

JOB RESPONSIBILITIES 

Budhiraja explains,"The corporate department in some firms tend to include commercial law elements as well, ie, activities like drafting and negotiating commercial agreements. On the other hand, some firms may classify commercial activities as a separate department.The best way to look at it is that corporate law is a generic term that encompasses all the business activities of a corporate." However, the key responsibilities of a corporate lawyer include - 

• Due diligence 

• Research and writing memos 

• Contract drafting and review 

• Formation and housekeeping of corporate entities 

• Preparing filings for state and central agencies 

LAWFUL ENTRY 

You can study law after class XII with any subject, and take up the integrated five-year BA LLB programme, or opt for a three-year LLB course after graduation in any subject. 

   The integrated five-year law course (BA LLB) is now offered at over 50 universities in India. For a five-year course, candidates need to have completed class XII with a minimum of 55% and appear for an entrance exam conducted by the university or institute.There is an all-India entrance test for admission to the five-year degree course, which comprises a test in English, numerical aptitude, general knowledge and aptitude for legal studies. 

   Some colleges are also offering a BSc LLB in place of a BA LLB which is a slightly more specialised yearlong degree programme.

  

Sunil Sharma

   Moderator

Dil Se Desi Group

&   www.dilsedesi.org

The Counsellor - 20

Course details 

I have passed my class XII in science, (PCM) securing a 50%. Please give me details about the BSc degree from Ignou. Can I participate in competitive exams and apply for a PG in some other university? 

   Manish Verma

 

Indira Gandhi National Open University (Ignou) offers a choice of BSc (Gen) and BSc with physics, chemistry, maths, biology, life science,nautical science,nursing etc. Since Ignou is a fully-recognised university, you can easily apply for PG courses in any university provided you have the requisite marks. You can sit for any competitive exam including the UPSC (union public service commission) civil services exam as well. 

   As you must be aware, the application deadline is in July. For details, log onto their website:

 

www.ignou.ac.in  

Legal courses 

Is BGL (Bachelor of General Laws) and LLB the same? If I complete BGL, will I be eligible to practice as a lawyer? 

   Lucky

 

BGL and LLB courses differ in their scope and duration. While BGL is a two-year course, LLB takes three years for completion. Eligibility for both the courses is a Bachelor's degree. However you can pursue an integrated 5-year BA LLB programme straight after class XII.

 

According to the Bar Council of India, you cannot practice in a court of law after BGL or BAL (Bachelor of Academic Laws),though you can join a solicitor's firm or give legal advice. Besides, your degree will be an asset in various jobs, which require knowledge of law such as CS (company secretaryship), personnel management, industrial relations, consulting, working with NGOs and LPOs (legal process outsourcing). 

Public notary 

I am a woman lawyer practicing in court for the last six years. I am interested in becoming a public notary but I have heard that one requires at least 10 years of work experience. Is this true? Also could you please tell me a little bit about the work profile? 

   K Sera

 

Notaries draft, verify, and attest various deeds and documents both judicial and non judicial such as conveyances and power of attorney concerning real estate, factories etc. 

   Notaries often bear witness to and certify signatures on legal documents. Also you will be called upon to prepare a person's last will and testament that we so often see hotly contested on TV soap operas. 

   Sometimes the courts direct notaries to exercise the function of Protem (temporary), judge, magistrate, commissioner or arbitrator. 

   Appointment of a notary is a statutory appointment, which is done under the Notaries Act. 

   To answer your first question, the eligibility for becoming a public notary is as follows: Advocates (civil/criminal/ taxation/revenue) who have been practicing for the last 10 years and enrolled with the Bar Council of India, having a no-objection certificate from the concerned Bar Council are invited by the judicial branch of the State government. 

   However applicants belonging either to SC, ST, OBC and women candidates need only seven years of legal practice.

 

Age permit 

What is the age limit/relaxation for exams conducted by the Staff Selection Commission? 

Ramu Mishra

 

The age limit is different for different posts. Make sure you confirm this from the respective exam notices published in Employment News/ 

Rozgar Samachar. Generally the age limit is 18 - 27 years. 

   The relaxation in upper age limit is as follows: five years for SC/STs, three years for OBCs and 10 years for the physically handicapped. For widows, divorced women and judicially separated women, the age limit is 35 years for UR category; 40 years 

for SC/ST women and 38 years for OBC women. For ex-servicemen and departmental candidates, it is best to consult the exam notification.

 

Archaeology courses 

While studying history as part of my BA programme, I have developed an interest in archaeology. Could you please suggest some universities that offer this subject at the PG-level and also tell me about the job prospects in this field? 

   V.K. Vyas

 

Archaeology is the systematic study of extinct societies, and the past of living societies through excavation analysis, and interpretation of their artifacts, human and other remains. Besides archaeological theory you will learn about field and dating methods, conservation, and cultural and physical evolution. 

The Archaeological Survey of India (ASI) offers jobs related to this field. You can also opt for jobs in museums, research institutions, the travel and tourism industry or work with bodies like the Indian Council for Cultural Research (ICCR) or the Indian National Trust for Art and Cultural Heritage (INTACH). Private collectors also require the services of archaeologists. There are increasing opportunities both in the public and private sectors in heritage management, curating and academics, regional archaeological services and development work both in India and overseas. Teaching and creating public awareness is another option. Preserving our rich and diverse heritage is of utmost importance. And heritage can be protected only when you share your knowledge with the people living in the surrounding areas and co-opting them in your conservation effort. 

Specialisations in this field include epigraphy (deciphering ancient inscriptions), numismatics (the study of old coins, medals, etc to reconstruct history), restoration and conservation of ancient monuments, heritage sites and artifacts. 

Some institutions, which offer PG courses in archaeology and related fields in the north are the Barkatullah Vishwavidhyalaya in Bhopal, the Banaras Hindu University in Varanasi and the Kurukshetra University. Some notable courses that can be pursued in this discipline include the two-year Masters in archaeology and heritage management and Masters in conservation, preservation and heritage management offered by The Delhi Institute of Heritage Research and Management, and a two-year PG Diploma in archaeology offered by the Institute of Archaeology, ASI.

 

 Sunil Sharma

   Moderator

Dil Se Desi Group

&   www.dilsedesi.org

Portal providing Edutainment

 Portal providing edutainment

 

THE things that come to mind first when one thinks about YouTube are movie clips, music videos, entertainment and the like. However, with the internet fast becoming a dependable medium for sharing information, education too has found a place on the website. 

   The website, which hosts user-generated videos, has been helping impart online lessons in engineering as well. YouTube India and the ministry of human resource development launched a programme called the National Programme on Technology Enhanced Learning (NPTEL) a few months back. This joint initiative between all the seven Indian Institutes of Technology (IITs) and the Indian Institute of Science, Bangalore imparts online lessons in engineering free of cost through the website nptel.iitm.ac.in. 

   As part of the programme, web and video-based supplements for a large number of engineering courses were created to help teachers and students in India.There are nearly 1,600 hours of lectures available at present. And within the next few months, all the 110 video courses developed under the NPTEL project will be included. 

   In future, there will be a single repository containing more than 5,000 hours of curriculum-based learning in five major engineering subjects at the undergraduate and beginning postgraduate levels in India. Further, for the benefit of everyone in India and abroad, the site can also be accessed directly from

 

 www.youtube.com/iit.

 

A broadband connection with a speed of about 512 kbps is recommended to view the lectures. 

   The video courses, organised as playlists, are categorised as core sciences, civil engineering, computer science and engineering, electrical engineering, electronics and communication engineering and mechanical engineering

 

 

Sunil Sharma

   Moderator

Dil Se Desi Group

&    www.dilsedesi.org

New BEd programme for DU

New BEd programme for DU

 

DELHI University's (DU) Faculty of Education plans to introduce a new BEd programme from next year. Under the new scheme, the faculty aims to make the BEd programme more practicebased and also to increase the duration of the programme from one year to two years. "In today’s world, the role of 'critical inquiry' in teacher's preparation has gained tremendous importance. It is in this context that a teacher education programme of a longer duration is conceptualised, which provides for a structural as well as intellectual and experiential space to student-teachers to think and reflect upon their own practice," informed Bharati Baveja, head and dean, Faculty of Education, DU. 

   "The new programme aims to strengthen the relationship between theory and practice. So, the student will be both, a researcher and a problem solver. The programme would be essentially rooted in ground realities of our education system where a student will play an active role in identifying crucial issues and developing school education," she said. 

   The existing programme teaches students theories that are either foreign or outdated. "The new programme's structure would be evolving in nature. Students will be required to give feedback on the real issues he/she faces in the classroom," said Baveja. The faculty aims to achieve this by organising group discussions, paper presentations and theme-based discussions for students after they return from their training period. 

   As the present duration of the programme is short for teaching students, sending them for practical training and then taking their feedback, the faculty will extend the BEd programme to two years. "Once the university incorporates the semester pattern for all its postgraduate courses, we will be able to increase the duration. One year would be devoted to learning theories and the other for rigorous practical training. So, students will get to teach and also give us feedback," explained Baveja. 

   Further, the faculty is also working with the UK-India Education and Research Initiative (UKIERI) on a research-based project on how to make mentors more effective. The findings of the research will be implemented in the new BEd programme. "Under the present scheme, the students who undergo training are observed and mentored by teachers in their respective schools. We also observe them. However, since teachers who are already working are in a better position to mentor them, we would try to formalise this mentoring system under the new scheme," stated Baveja. 

   The faculty will train 20 teachers from each school affiliated to it on how to mentor the students who go for training. "We will use UKIERI's project findings on mentoring to train school teachers. This would also help in aligning the teachers' approach towards education with that of the faculty," added Baveja.

  

Sunil Sharma

   Moderator

Dil Se Desi Group

&    www.dilsedesi.org

ROI for an MBA

 

CASH IN

 

AN MBA AT A PRESTIGIOUS B-SCHOOL ABROAD MAY SEEM LIKE AN ELUSIVE DREAM FOR MANY,  HOW YOU CAN RECOVER THE COST OF AN INTERNATIONAL MBA FASTER THAN YOU THINK

 

   Business school is an investment: an investment of time, resources and money. Some candidates who wish to pursue an MBA programme, will look into the costs of the course and dismiss it out of hand, shocked at both the financial and personal costs they are likely to incur. Others will realise the potential benefits of this prestigious international business qualification and understand that with decades of working life ahead of them, the benefits of moving careers, an increasing salary and the potential of international networks over the next 40 years, an MBA will be one of the most valuable investments they can make. 

   Despite the value of such an investment, the initial costs of an MBA are expensive, particularly for Indian students. Having a rough idea of how long it will take to regain the money spent on your programme — known as Return on Investment (ROI) — can be reassuring. 

   Tools like QS Search and Scorecard ( www.topmba.com/scorecard ) provide customised results pertaining to your particular situation. 

   For example, an Indian MBA candidate wanting to study in the UK may find Lancaster, Oxford, and Ashridge will likely provide the best ROI. That is, 20 years following business school graduation, the percentage of the amount invested in tuition costs will be highest after attending one of these schools, as opposed to others.The results show the amount of time, according to the average salaries for graduates from those schools, to repay the investment they have made in paying for the course. It is not necessarily an indicator that salaries are extremely high after graduating from these schools,though they certainly can be,but ROI is one of the key priorities an aspiring MBA candidate should consider. 

   As an example, Scorecard can examine the ROI of three different schools offering different programmes — a twoyear programme at a top US school, a two-year programme at a less competitive school, and a one-year programme at a business school in the European Union (EU). 

   Harvard, Rutgers, and INSEAD will be used to demonstrate the above. The following results are based on a female with two years work experience and a pre-MBA salary of US$40,000, employed by a company with fewer than 5,000 employees. 

   Top US school, Harvard will require an investment of approximately US$147,000, yet the average graduate can expect about a 47% salary increase (this figure will vary depending on the graduate’s post-MBA occupation). Therefore, we can predict an approximate time period of seven years to ‘break even’,ie,to regain the cost invested in the MBA programme. 

   Attending Rutgers will cost the student approximately US$108,000 for the two-year programme. In comparison to Harvard graduates, the MBA graduate from this university can expect about a 69% increase in her salary, resulting in only a five year period to ‘break even’. 

   Graduates of the one-year MBA programme at INSEAD in France can expect approximately a 55% increase in their salary, post-MBA. As the tuition cost is US$90,000, we can conclude that it would take about four years to ‘break even’. Cranfield in the UK, yielded similar results. 

   Khrisan Singh, a graduate of Ashridge, relates, “I grew up with the concept that only the top five schools are the ones worth attending,and that if I didn’t gain acceptance to at least one of them, my dreams of becoming a well-paid, highly educated business professional would be shattered. Once I truly reviewed the facts, keeping in mind that my return on investment is of great importance, I learnt that the best investment doesn’t necessarily correlate to the best-known institution, and that the skills I would learn throughout my MBA aren’t only accessible at the most advertised schools.” 

   Indian MBA candidates travel worldwide in search of business schools that suit their personal and professional development. The 2008 QS TopMBA Applicants Survey, the world’s most comprehensive survey of those considering an MBA, reveals the US and UK as the two most popular study destinations for Indian students; 86% of Indian students pursue their MBA in the US, 56% head to the UK, and 38% choose Canada. Indian students also head to destinations such as: Singapore (32%), France (24%), Australia (23%), Switzerland (11%) and Spain (10%). Around 30% of students remain in India. 

But how do Indian students fund this investment? The majority of Indian students (39%) fund their MBAs from loans, followed by scholarships (36%). To estimate the true cost of completing an MBA, candidates need to take into consideration tuition fees, living, travel and book costs. Course fees have risen in recent years, but salaries and bonuses have also risen and the payback period has actually reduced slightly over the last five years. Nunzio Quacquarelli, managing director, QS and QS World MBA Tour, says salaries for graduate MBAs from top international programmes have increased significantly over the last two years, since 2006. “Average salaries for MBAs graduating from top US schools such as Tuck, Chicago, Wharton and Stanford averaged US$110,000 in 2007 compared to an average MBA starting salary of US$93,500 in the UK and Europe, and an Asian average of US$71,000.” 

“To calculate ‘true earnings’candidates should also take into account the ‘sign-on’ bonus offered by many MBA recruiters, and the potential to earn a further US$15,000 during a summer internship,” Quacquarelli says. 

Many factors will impact your ROI — from the economy to your post-MBA occupation to the country in which you wish to work after your studies. Programme content, alumni reviews, recruitment statistics, and location in terms of enjoying life outside of the classroom are a few of the many things to consider when choosing a business school. 

Ross Geraghty, Editor, Top MBA Career Guide, says,“There are many factors an MBA candidate has to consider. ROI is one of them, but the quality of the faculty, the companies that visit schools to headhunt MBA talent, and the location of the school are also important. 

“Traditional rankings like those produced by the Financial Times are static and don’t take into account the candidate’s personal choices or preferences. It’s true that seeing the same names repeatedly will reinforce a student’s opinions, but you also have to remember that those schools will be the most competitive and the hardest to get into. Look closely at the schools’ core content and faculty interests. That, combined with career services and ROI, may be the best guide for you,” adds Geraghty. 

 

Sunil Sharma

   Moderator

Dil Se Desi Group

&

www.dilsedesi.org