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Corporate Lawyer Salary

Corporate Lawyer Salary

What does a Corporate Lawyer do?

A corporate lawyer is a legal professional who specializes in corporate law; the individual typically works for a company and is required to ensure that their respective lawyer adheres to corporate law of the jurisdiction in which the company resides. All companies in developed nations have a team of corporate lawyers. In addition to ensuring compliance issues and the adherence to corporate law, these individuals will also negotiate and construct contracts to ensure that due diligence and the various laws surrounding business deals are complied with. 

As of 2010, there were approximately 72,000 corporate lawyers in the United States; these individuals work on average 50 hours a week with a mean starting salary of 64,000. The corporate lawyer salary will increase to roughly 95,000 after 5 years of work and over 140,000 after 10-15 years. 

The role of the basic corporate lawyer is to ensure the legality of all commercial transactions that the business undertakes. In addition, the corporate lawyer must advise his or her corporation on their legal rights and duties, including the responsibilities of the company’s corporate officers. In order to fulfill such responsibilities, a corporate lawyer must possess advanced knowledge of contract law, securities law, tax law, accounting, bankruptcy, intellectual property rights, zoning laws, licensing laws and the laws specific to the business that they work for.

How much does a Corporate Lawyer make?

As stated above, the corporate lawyer salary will greatly increase so long as the individual remains employed. That being said, the corporate lawyer salary is also dependent on a number of other variables including, their education level, the type of industry they are in, their role within the company, their particular area of specialty and most importantly the company they work for. Corporate lawyer salaries will greatly fluctuate based on the company’s market value, size and overall health. For instance, a large company who pays above the mean will offer higher corporate lawyer salaries than the majority of smaller or regional-based companies. 

Corporate Lawyer Salary based on Experience:

The corporate lawyer salary for individuals with one to four years work experience in their particular field can earn from anywhere between $64,000 to over $125,000. The average corporate lawyer salary for an individual with five to nine years of experience will typically earn between $94,500 to $147,000. Corporate lawyers who are more experienced, for example those with 10 to 19 years of experience will earn somewhere between $100,000 and $180,000.

Corporate Lawyer Salary based on Specialties of Law:

The highest paying specialty for a corporate lawyer, in 2009, was real estate—these individuals average a maximum annual corporate lawyer salary of $175,000. By contrast, corporate lawyers who worked for hospitals only earned a maximum of roughly $148,000. Furthermore, the highest paying employers of a corporate lawyer were private legal practices, where attorneys earned a maximum corporate lawyer salary of roughly $160,000.

Corporate Lawyer Salary based on Education Level:

In July of 2010, a corporate lawyer with a juris doctor degree earned the highest maximum salary of $172,000. Those legal professionals with only a bachelor’s degree in law earned the lowest maximum salary at approximately $102,000.

 

 

Corporations Act 2001

Corporations Act 2001

What is the Corporations Act 2001?

The Corporations Act 2001, which may also be referred to simply as the Corporations Act, is an act of the Commonwealth of Australia that fundamentally defines the laws dealing with business entities in Australia at both the federal and interstate levels. The Corporations Act 2001 focuses most notably on companies, although the legislation also covers some laws, which specifically relate to other entities in the region, such as managed investment schemes and partnerships. 

The Corporations Act 2001 is presently the largest and most comprehensive corporation’s statute in the world. The document itself is several thousand pages long—a figure that trumps similar corporation statutes. In addition to being vast, the Corporations Act 2001 also reforms any previous laws that regulated business formations in Australia. 

The Corporations Act 2001 is the primary legislation regulating all companies in Australia. The Corporations Act 2001 regulates matters such as the operation and formation of companies, as well as its officers. The Corporation Act 2001, in conjunction with the nation’s constitution, also regulates all actions performed by the company, including any attempts at fundraising or mergers and acquisitions.

How was the Corporations Act 2001 Formulated?

The Corporations Act 2001 was the subject of a successful High Court of Australia challenge in the case of New South Wales v Commonwealth. In this particular case, the Commonwealth was found to have inadequate power to legislate in relation to the formation of companies. The Australian Constitution; however, found that adequate power for legislation applicable to foreign corporations already formed within the Commonwealth was just. This decision ultimately led to the creation of a co-operative legislation, involving a referral of power from all the Australian States. As a result of this ruling, the Australian States uniformly and unanimously adopted the Corporations Act 2001. 

Based on the Corporations Agreement between the Commonwealth and the states, all reforms to the Act must be referred to the Ministerial Council for Corporations for sufficient approval. This co-operative scheme, since the passing, has come under pressure as the Commonwealth has sought to rely on the corporations to legislate for an Industrial Relation reform agenda. Such a maneuver has led to some Labor States threatening to succeed from the Corporations Agreement and more broadly, the Corporations Act 2001. 

How is the Corporations Act 2001 Organized?

The Corporations Act 2001 is organized into five volumes—these volumes, in total, cover ten chapters. Each chapter of the Corporations Act 2001 has multiple parts and within each part there a number of divisions. The parts of the Corporations Act 2001 contain virtually every aspect and maneuver of a corporation; from laws on registering a company to the code of code of conduct of a managed investment scheme, the Corporations Act 2001, covers all aspects of an Australian business. 

 

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