You’ll probably need to take a business law class in your academic career if you’re aiming for various business degrees, such as marketing, business management, or administration.
If you’re contemplating a career in business, you might wonder why some people pursue business law. Before exploring its significance and value, let’s analyze the reasons and rewards for studying business law.
Is Business Law Hard?
Business Law is a challenging major because it requires extensive study, including the curriculum in the first year. The coursework covers corporate law, contracts, torts, criminal law, and international law. Along with significant writing and research, it also incorporates courtroom expertise. Overall, this field is competitive and generally versatile.
If you’re looking for a position with a steady income, then Business Law may be the right major for you.
1. Corporate Law
Business law is another term for corporate law. It refers to the body of legislation that controls the privileges, connections, and behavior of individuals and organizations conducting business.
Students in this major focus on the federal laws and the procedural requirements companies use to stay compliant.
You can expect to practice the objectives of laws and how corporations can use them in their actual experiences through a curriculum in accountancy, economics, and business administration.
A student in business law programs can specialize on:
- Estate Planning
- Intellectual Property Law
- Real Estate Law
- Tax Law
2. Extensive Curriculum
Business law is a rigorous study of the constantly changing legal complexities that confront organizations of all types and sizes.
The curriculum comprises numerous case studies, and students must state regulations to support their conclusions.
However, students have the chance to strengthen their data collection and critical analysis skills from a global viewpoint.
Students with this level of an in-depth comprehension of the world will continue to be in demand as companies expand.
Lastly, in most cases, an average student finds classes like differential equations or advanced physics significantly more challenging than business law.
3. Business Law Major to Legal Practise
You can engage in a Bachelor of Business Administration degree with a business law specialization if you desire to learn business law at the undergraduate level.
The following steps may lead to a career in business law:
Step 1: Finish your undergraduate studies (4 years)
Step 2: Pass the LSAT examination
Step 3: Complete law school (3 years)
Step 4: Complete the board exams
These programs are rigorous, with coursework such as:
- Constitutional Law
- Civil Procedures
Those with MBA degrees are not required to maintain their schooling. Still, many do so to stay abreast of technological developments and corporate trends.
4. Versatile and Competitive
To practice business law, a student may obtain a Juris Doctor (JD) from a law school.
A few choices are as follows:
- Dual degrees in law and business administration
- Juris Doctor with Business Law or Taxation Specializations
This course is versatile and competitive and can lead to various opportunities in the public and private sectors.
5. LSAT and Bar Exam
To practice business law, students must pass a licensing exam and satisfy the necessary educational prerequisites for the area of law they desire to practice.
The LSAT verifies your eligibility for entrance to law school. The LSAT can be taken after your junior year, giving you enough time to apply and prepare for law school.
After that, acquire a Juris Doctor degree and complete the state’s bar exam administered by the American Bar Association.
6. Competitive Surroundings
Despite the variety of courses available for the business law specialization, they all cover the following subjects:
- Law of Contract/ Commercial Laws
- Laws of Arbitration and International Arbitration
- Labour Laws
- Human Rights Laws
- Mergers and Acquisitions
Some students believe the first year of business law school is the most challenging year. In addition, studying in law school is more complex and necessitates more than just memorizing notes.
There is substantial competition because law school is full of intelligent, motivated, and independent students. Therefore, you must work hard to stand out in that group.
7. Internships and Training
Some students take additional training and certification, such as,
- Codes of Conduct
- Anti-Money Laundering
- Confidentiality Training
Additionally, students get the opportunity to immerse themselves in the realities of being a practicing solicitor and the rules by which all attorneys must comply.
Internships allowed them to observe solicitors’ drafting procedures, counsel, and client work. It gave them an excellent grasp of handling issues from beginning to end.
Students also frequently handle routine office assistant duties, including filing, publishing, and setting up trial notes.
Most significantly, they observed attorneys debate their cases in court and during depositions.
They learn that lawyers put in a lot of overtime and spend a lot of time writing and researching.
8. Focus on Memorization
Some students find the courses and material extra challenging to absorb because business law school classes are delivered differently from other undergraduate degrees.
Memorization, selective memory, and the formation of critical thinking skills are frequently the main objectives of an undergrad law degree.
Courses often use practical instructional methods. Your major could or could not be related to the information you memorize.
Your critical thinking skills will be tested in law school, promoting long-term memory retention and information applications.
9. Balance is Everything
Life can be a little hectic for students studying business and law.
Typically, they spend two hours in classes. Students still have time for extra activities such as sports and society.
Students realize they spend entire days at the university, attending classes, reading, socializing, or participating in sports.
For students in this course, it’s all about balance.
Some students prefer to travel rather than stay on campus. As a result, there will be less free time and more significant pressure.
Yes, business law can be complicated. It’s a lot of information, and you need to understand many different concepts to argue your case.
You’ll need to be passionate about business law, or pushing through the long study hours and demanding curriculum will be hard.
However, if this sounds like something that interests you, talk to current law students and qualified attorneys today!