Careers in Law for Business
| Author | Craig Bestwick, G. Maxwell |
| Pages | 92-95 |
Page 92
A wide variety of choices are available for a career in law. However, work and determination are required to complete law school and pass a state bar examination.
To be admitted to law school, students must have completed a bachelor's degree, although generally without restriction concerning the choice of undergraduate major. Law students have bachelor's degrees in business, engineering, science, history, politics, and many other disciplines.
The individual states administer the licensing of lawyers. Requirements for attorneys to enter the law field vary from state to state. Generally, a prospective lawyer must pass a state bar examination following graduation from law school. In a very few states, a person is automatically admitted to practice upon graduation from law school. It is possible for a person to sit for bar examinations and become licensed to practice in more than one state.
The states also control discipline once lawyers are admitted to practice. Complaints from clients or others may be made to the state bar, which reviews them and imposes discipline, if necessary. Discipline may range from fines or suspensions up to disbarment. In many states, the state supreme court reviews disciplinary actions imposed upon lawyers.
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Lawyers deal with business organizations, individuals, international business, labor relations, educational law, poverty law, legal research and writing, and other areas.
In the United States, attorneys engage directly with business organizations in many fields in which they practice.
Many areas of law involve publicly held corporations (stock available for purchase by any investor). For example, control and management have legal ramifications, as do capital procurement and maintenance. Attorneys are called upon to settle a wide range of disputes, such as those developing between stockholder and corporation.
Antitrust laws prohibit price fixing, which could result when businesses gain monopoly power in their field. Major legislation in this realm includes the Sherman Act of the 1890s, the Clayton Act of 1914, and the Cellar-Kefauver Act of 1950. The Robinson-Patman Act prohibits manufacturers from discriminating against small retailers in favor of large chains. These acts are enforced by the Federal Trade Commission and the Antitrust Division of the Department of Justice.
These laws involve various types of business competition, especially with reference to trademarks, price maintenance, and price discrimination.
Patents are issued by the Patent and Trademark Office of the U.S. government. They grant inventors exclusive rights to make, sell, and use inventions in the United States for a given period of time. Patents often require an attorney's counsel.
Copyrights provide protection for original works of literary, dramatic, musical, or artistic expression. The Copyright Office of the Library of Congress administers these laws.
Trademarks are used to distinguish one business firm's products from another. Their symbols may be a word or words, name, design, picture, or sound. Trademark rights have an indefinite life. A company may register its trademark with the U.S. Patent and Trademark Office in Arlington, Virginia, or with the trademark office in its state.
Accounting statements provide financial details concerning the operation of a business or other form of organization. Balance sheets list assets (things that are owned), liabilities (debts), and net worth (assets minus liabilities). Income statements show net income for a period of time (income minus expenses). Business firms, particularly those with stockholders, must prepare honest and conservative financial statements. Very stringent laws have been passed dealing with accounting practices.
Attorneys orchestrate a variety of negotiations, including those involving injury claims, criminal charges, family disputes, and commercial disputes.
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