Business law is the branch of law that deals with topics that directly and indirectly effect the operations of companies. It encompasses many broad aspects of legal practice, including contracts, torts, income tax, antitrust, labor law and bankruptcy. There are several types of business law jobs available for individuals who have a background in business law, including work as an arbitrator, a business lawyer, an international trade specialist and a labor relations specialist. Although this is not an all-inclusive list of potential career choices for individuals who have a business law background, these jobs represent some of the most popular options for individuals who want to work in business law.
Jobs in arbitration law allow individuals who have a background in business law to work with parties that have a dispute in order to arrange legally binding resolutions for the parties. An arbitrator typically works with many aspects of business law, including contracts, labor disputes and employee benefits. A law degree is generally not required for business law jobs in arbitration. Many arbitrators are self-employed, and most have an advanced degree in business law or industrial relations. This has been a fast-growing field in business law because as legal costs have continued to rise, arbitration has become a popular, low-cost legal alternative for dispute resolution.
A business lawyer, otherwise know as a corporate lawyer, is a type of lawyer who works directly with or for a corporation. Most business lawyers specialize in a specific aspect of business law such as mergers, taxes or litigation. This is the most common job field for a practicing lawyer who has a background in business law. Corporate lawyer business law jobs require a law degree, and many jurisdictions require individuals to pass an exam in order to practice law in that jurisdiction.
International trade specialists typically have backgrounds in business law. These individuals work with business and government to oversee and facilitate international trade. Courses of study for those interested in a career in international trade typically include international business law and government regulations. Business law jobs in international trade normally do not require law degrees but do require some post-secondary education with an emphasis in business law.
A labor relations specialist works directly for a business, trade union or government agency and facilitates relations between employees and management. This career requires individuals to be knowledgeable about labor relations, employment contracts and labor disputes. A degree in law is not required for business law jobs in labor relations, although it usually is recommended.