What is CORPORATE LAW?

Written by the 2024 EncycLAWpedia Team

Corporate law (also known as business law, enterprise law, corporations law or sometimes company law) is the body of law governing the rights, relations, and conduct of persons, companies, organisations and businesses. Corporate law often describes the law relating to matters which derive directly from the life-cycle of a corporation. It thus encompasses the formation, funding, governance, and death of a corporation.

Interview

Rachel Chen is currently working as a Corporate Mergers and Acquisition solicitor at the Melbourne office of DLA Piper Australia. She completed her degree at Melbourne Law School in 2022.

“I never thought I would be a corporate lawyer. So I guess a takeaway point is to always keep your mind open”

What made you gravitate towards a legal career?

I've actually never thought about becoming a lawyer before I actually started law school. Having studied Japanese and French in my undergrad, I’ve always been interested in  being an interpreter and becoming a consecutive interpreter working in one of those little black boxes in the UN. Towards the end of my Bachelor of Arts degree, I took the LSAT as one of my friends was taking the LSAT, and I was pretty intrigued because I did law electives as breadth subjects. Having already done the LSAT, I applied for law school as I wanted to be an interpreter in the business/legal sphere. Since starting law school, however, I never really looked back.

As a student, was corporation law the area that you wanted to practise in?

During my undergraduate studies, I absolutely hated corporation law. When I was doing my Bachelor of Arts, I did corporate law as a breadth subject. At that time, I did corporate law as a breadth subject. Not going to lie, it was the worst subject in the history of my transcript.Thankfully I improved a bit during my JD coursework but until recently, I never thought I would be a corporate lawyer. I also never thought I would be a mergers and acquisition lawyer. I also never never thought I would do a front-end transaction. 

Even during my JD, I've always loved litigation more. I've loved advocacy. I've loved arguing about different things. I loved different legal research questions. Even for my graduate program rotation, I started off with an employment rotation, focusing more on litigation. And I've subsequently rotated with the litigation team, focusing on professional indemnity insurance. Both of these rotation are very litigation focused. But for my last rotation, I decided to do a front-end rotation. I never really thought I would love it, but three months in, I really like it. Ultimately, I decided to put it as my first preference for settlement.

I never thought I would be a corporate lawyer. So I guess a takeaway point is to always keep your mind open. Sometimes you just don't know whether you like something or not, because maybe you haven't given it a shot. So I think it's important as a law student to keep your mind open.

Even if you are not the best at a particular subject in law school, would you still be able to work in that particular area?

Absolutely. What you learn in law school is quite different from what you’ll encounter daily in a law firm or in chambers as a litigator.

Law school provides you with essential tools—teaching you Corporations Act provisions, directors' duties, and so forth. But when you're working with real people and real clients, it’s a completely different experience. You’ll face situations that never showed up in textbooks. Subjects you might find dull in class could become fascinating in practice. On paper versus in action, the contrast is significant.

Similarly, excelling in a law school subject doesn’t necessarily mean you'll enjoy it in practice. You might really enjoy studying Copyright Law in a group setting, but when you're handling it for a client, you might find it far less appealing. You won’t know until you actually do the job.

There are also many facets within each practice area, like corporate law or litigation. You could find one part engaging while disliking another. For instance, in litigation, you might enjoy drafting Statements of Claim, preparing defences, or advocating in court, but dislike the tedious document review during discovery. In corporate law, you might love client meetings but find drafting documents tiresome. Everyone's preferences are different, and it’s crucial to explore different tasks to discover what you enjoy, what you excel at, and what you don’t.

“As a junior lawyer, it’s important to be a generalist first. Build a broad foundation across various areas before gradually specialising in a field where you find your strengths and interests align.”

What does a typical day look like for you?

At the moment, I'm with the corporate team. I usually wake up around 8:00 a.m., get ready, and arrive at the office between 9:00 and 9:15 a.m. Once I’m there, I typically grab breakfast and a coffee. I start my day by checking emails that arrive overnight, as I often work with international firms from the US and Europe. I go through those emails and then outline my to-do list for the day.

Throughout the day, there are usually meetings—either with clients or internal briefing sessions. When I’m not in meetings, I focus on working through my tasks. Sometimes, I’ll be handling just one matter, while other times I’ll have three or four matters on the go. I need to assess which tasks are most urgent and prioritise accordingly. Lunch is typically around 1:00 to 2:00 p.m., and we often have internal training during this time, known as "lunch and learn" sessions. These sessions might cover topics like shareholders' agreements, and the company provides lunch while you eat and learn from the presentation, usually led by a senior partner.

Depending on my workload, I usually finish work around 6:00 or 6:30 p.m., though it can vary. There's flexibility—if I finish my work or have something scheduled later in the afternoon, I can give my team a heads-up and leave earlier. This flexibility is pretty standard across most law firms.

There are no strict time constraints; no one expects you to arrive at 8:00 a.m. if you have a 10:00 p.m. call with a US client or a 7:00 a.m. call with someone else. The schedule is adaptable, which is one of the benefits.

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