Scope of Corporate Law in Pakistan 2023

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What does Corporate Law mean?

Corporate law is a branch of law that regulates businesses and in this way, facilitates businessmen to perform well. Business is the backbone of the economy of any country. That is why the government makes rules and regulations to regulate these businesses.

The scope of corporate law is not limited. There are a lot of areas where corporate lawyers can offer their services as professionals. Some of the most important areas where they can easily find their space are the following.

  • Courts
  • Judiciary
  • Law Firms
  • Consultancy
  • Law Institutions
  • Corporate Firms
  • Law Enforcement Agencies

How to become a Corporate Lawyer

 In order to become a corporate lawyer, a candidate must meet the following requirements.

  1. He has to complete a degree in Law (LL.B) from a recognized university.
  2. He must have done LL.M. with a specialization in Corporate Law.
  3. He must have attained theoretical as well as practical knowledge about the field.

Examples of Corporate Laws

Some examples of corporate laws are the following.

  1. Companies (Appointment of Legal Advisors) Act 1974
  2. Companies Act 2017
  3. Limited Liability Partnership Act, 2017
  4. Income Tax Ordinance 2001
  5. Sales Tax Act, 1990
  6. Federal Excise Act, 2005
  7. Customs Act 1969
  8. Islamabad Capital Territory (Tax on Services) Ordinance, 2001

Is Corporate Law a good Career?

There are no hard and fast rules to decide whether Corporate Law is a good career or not. However, there are, no doubt, Pros, and Cons of becoming a corporate lawyer.

Pros

  • Corporate Lawyers are often paid well. Their salary is lucrative and increases depending upon their performance.
  • They do not need to go to court regularly for their job and thus remain away from the hectic routine.
  • Corporate Lawyers make policies for their companies as well as for the government if they are good at work.

Cons

  • There is nothing new in the routine of a Corporate lawyer and his work becomes monotonous.
  • He has to work under a lot of work pressure and thus remains busy all day making his schedule more hectic.

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