Corporate law and litigation both have their own pros and cons when choosing a career in the legal industry. Both are also high in demand throughout the country.
But what is the difference between corporate law and litigation?
Corporate law vs litigation
Corporate law, as the name suggests, is based around corporations and their formation, their connection with other businesses, and their interactions with government, tax organisations, and the public. The role of a corporate attorney is to ensure that a business is operating within the law. Corporate attorneys will deal with a range of issues from contracts to shareholder issues and will often be involved in areas such as taxes, procuring assets or money, and mergers and acquisitions.
In comparison, litigation is the practice of taking a case to court to resolve a dispute or charge someone with a crime. Litigation lawyers such as those from Ferguson Law Group work in consultation with their clients. They will then represent their case and best interests to the court with the aim of getting a favourable outcome.
They’ll also deal with the opposing litigation lawyer, attempting to resolve the dispute and come to an agreement between both that benefits their client. Many cases can be taken to court for litigation such as divorce, small claims, criminal, etc. They can also deal with cases whereby their client is being sued is suing another party.
Pros Of Going Corporate
Being a corporate lawyer can be tough, and requires a lot of effort and drive. Although, there are some perks to choosing it as a career.
- Salary
Corporate law is the highest paid field of law, so you can expect a much better salary compared to litigation lawyers with the same amount of experience.
- Demand
There will always be a demand for corporate lawyers. This offers a great benefit as you can expect to have demand for someone of your skill set and expertise, particularly as you move higher up. To progress further, learning international laws and other languages will be beneficial.
- More Specialised
There are considerably fewer corporate attorneys compared to litigation lawyers. Whilst this has its disadvantages when trying to find a good position, it means that there is less competition when a position does become available. You may also find that established law firms will contact you directly based on skills and experience that you have gained.
Cons Of Being A Corporate Attorney
Just like with anything, there are a few notable cons you can expect being a corporate attorney that may make you choose the path of litigation instead.
- Long Work Hours
Corporate attorneys often work long hours rather than the traditional 9-5. Some cases are extremely important and require late night work, particularly when dealing with any companies that are overseas.
- Not As Many Jobs
While corporate attorneys are in demand for their skills, the reality is that there is more work in litigation.
- No Contingency Fee Basis
One real perk of litigation law is the contingency fee basis whereby a litigation lawyer takes a big case to court, wins, and earns a large sum of money. Unfortunately, this just doesn’t happen in corporate law.