We all know that when it comes to law there are so many disciplines one can major in, from international environmental law to taxation law, and human rights law to intellectual property law. But the field that has been getting a lot of attention in recent years is an LLM in business law. This is due to its increasing application in the rising corporate sector regarding business contracts, commercial transactions, types of bankruptcy, corporate taxation in banking, trade by-laws, business rivalry and intellectual property rights. Therefore, regarding the reputation of these areas to local, national and global business, it’s a no brainer as to why so many lawyers are now keen to study a Master of Laws in Business Law.
So what does a LLM in business law entail?
First and foremost, in order to understand the whole scope of a LLM in Business Law you have to understand the modules that are taught in the subject. They are many different options when it comes to studying business law, however they can generally be categorised into:
International Trade Law; Tax Law; Commercial Law; Banking Law; Commercial Law; Money Laundering Law; and Comparative Law.
The modules in the course generally cover broader topics of these major topics. These topics may vary in different universities in terms of content but at the end the final product is always the same; a lawyer who is shaped by the LLM into a machine that practices business law with virtue, vigor and justice.
So why should you study an LLM in business law?
An LLM in business law will open your future and your mind to many different career paths with international corporations and law firms.
On a personal level a person with a LLM will be able to understand the full scope of the law regarding the state or country that he or she is working in. This thus brings out a certain level of competitive advantage that gives an edge as opposed to the people who have not undertaken the course, obvious benefits of having an edge like this are endless including; better pay, quick career progressions etc.
In line with career development, a holder of an LLM in Business Law will be able to have multiple choices in terms of career choices. The choices include; tax manager, financial expert, chief operating officer, law firm partner, solicitor, corporate head, general counsel, senior associate, barrister and legal adviser. However, the list does not end here. The opportunities are many and gaining an LLM in Business Law can open up a whole new world of opportunities for you.
How much study time is needed in order to graduate with a LLM in business law?
If you are studying on a full time scale, you can be done within a year. However if you want to study it part time it will take you two years. There is also the opportunity to study online – for example the University of Liverpool offers an excellent LLM in International Business Law via distance learning, which enables you to study your postgrad course in your own time from your own home.