Contract law is one aspect of business law.
A degree in business or corporate law can lead to a number of different career options in the law field, or one that is closely related. A degree in business law usually provides law students with a wide background of legal knowledge in fields like contracts, bankruptcy law, creditor and debtor transactions and even real estate.
Corporate Lawyer
Corporate lawyers provide a variety of different services in the field of business law. Corporate lawyers can work directly for corporations or they can work as public lawyers who prosecute criminal offenders in the business arena. Corporate lawyers must have a strong knowledge of contract law and have a strong familiarity with a wide range of business documents. In cases where corporate lawyers work directly for a corporate entity, they provide legal counsel to the company before it makes large-scale financial decisions or contractual obligations. Corporate lawyers may also defend a corporation or its officers when it has been threatened with legal prosecution. According to Payscale.com, the average salary for corporate attorneys nationwide ranged from $82,853 to $163,968 in September 2010.
Legal Consultant
Lawyers who have expertise in the field of business law can also obtain positions as legal consultants or branch out on their own to start their own consulting service. The Bureau of Labor Statistics (BLS) notes that the field of consulting is expected to be one of the fastest growing fields of employment between 2008 and 2018, with expected growth of 83 percent in terms of the number of jobs. Legal consultants may provide consultations to corporations, government agencies and other organizations regarding legal matters that may affect business. As of October 2010, Payscale.com notes that the average range of pay for consultants in this industry ranged from $58,406 to $105,862.
Real Estate Lawyer
Real estate lawyers serve as consultants to consumers and professionals within the real estate industry on important legal matters. Real estate lawyers can provide legal advice on matters such as preparing and registering necessary legal documents to buy or sell a house or property, clarifying or modifying mortgage terms on behalf of a client wanting to obtain a mortgage from a bank, reviewing and clarifying all legal documents involved in the closing process and conducting research on the property being bought or sold to ensure that there are no liens or other impediments to buying or selling the property. As of September 2010, Payscale.com noted that real estate lawyers made between $63,359 and $113,068 annually.
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