Who Are They?
Solicitor is someone who provides expert legal advice and support to the individuals, private companies, public-sector organisations, groups, etc. Solicitors usually represent clients in‘lower’ courts such as county courts, tribunals or magistrates and are usually the first person to be contacted to gain advice on a legal issue. Solicitors are individuals who advise their clients on the appropriate legal action. Skills such as communication, analytical and an eye to precision are few which are required out a solicitor. Commercial Solicitors are those solicitors who tend to have a specialist practice area such as intellectual property etc. The duties of commercial solicitors vary on the area of law the lawyer wants to work in, but the focus lies on protection client’s business interest along with taking care of the risks. Day to day work for commercial solicitorsmay involve managing commercial agreements along with negotiating in the best interests of the clients.
Before diving into commercial solicitors and what they do, it may be important to understand what commercial law is. Commercial Law is a broad term for a range of legal services designed to support businesses in making money from products are services. A literal definition of this sector could be ‘ a body of law that governs business and commercial transactions.
Why Should One Become a Commercial Solicitor?
Out of all the sectors, commercial law is one of the most secure legal sectors which continues to expand with the economy. Studying this sector would help you to stand up to the various day to day industry news and economy changes along with would help you with enhancing your current skills.
This sector has opened varies job opportunities to work on as there are many specific areas where people could trade. On the right are the variety of sub sectors whichCommercial solicitors could practice. From Taxation to Contract law, with the right skills and passion, commercial solicitors could earn a lot and there will always be a demand for them looking at the current situation.
Along with the benefits, one may be asked to work long hours, strict deadline compliant, excellent teamwork skills, high pressure situations but with determination and passion, one may be willing to take this challenge.
What Are The Relevant Skills Required?
As a commercial solicitor, you may be required to have strong research skills along with building up a strong base in negotiation. One may also be required to keep up with commercial awareness and develop detailed and rounded knowledge of the client’s industry. Commercial’s solicitors need to develop their skill of attention to minute details which deals with paramount importance in any agreements and if in case of any error, the same could be a major problem for a business. Team working skills is one of the key skills of a commercial solicitor as their work profile may involve working with other solicitors and support staff in the company. A lot of determination, passion, and willingness to work hard is required to become a commercial solicitor.
Though Legal skills are transferrable, but each area requires something different. As a commercial lawyer, it may involve a lot of advocacy work along with mediation, arbitration sometimes between parties. Commercial Solicitors tend to provide a large amount of advisory work along with spending time in their offices more than court. Though the above stated are general skills, one may develop more and different skills depending on the area they wish to choose in the larger spectrum of commercial law.
How Can One Become a Commercial Solicitor?
Along with hard work, in order to become a commercial solicitor, aspirants would have to become a solicitor using weather of the following routes. To qualify as a solicitor in England and Wales, the following are the current routes.
- The law graduate route
- The non-law graduate route
- The chartered institute of legal executives (CILEx)
- ‘Equivalent means’
- The new SQE route
To know more in detail about each of these routes, you may look at ways on how to become a solicitor along with their roles and responsibilities in England and Wales.
What Is The Average Salary Of a Commercial Solicitor?
Though salary varies depending on the area commercial solicitors would expertise in and their skills but on an average , a newly qualifies solicitors in a firm outside of the city could easily earn around £20000 - £40000 however if qualified in London, this amount could be raised to £40000 - £90000. For those who have some experience, could be expected to get around £65000 to £1000000. This package is heavily dependent in the city commercial solicitors have practised in , qualified from etc. Those based in London would earn more than those living in smaller cities. These estimations keep changing depending on the demand in the job market. You can have a clear view of thesalary expectations by checking Legists Salary checker where you will be able to filter your preferences to gain a clear view of how much you will be paid.
The above is the information about the commercial solicitors. One can have a look at the legists.co.uk for current opportunities on apprenticeships vacancies. One could try to filter out the salary details, location etc to find out the best suitable apprenticeships. The applicants may be required to have an up-to-date CV and a cover letter. The Legists services such as CV Check orhow to gain a job without previous job work experience to help you give a push towards your journey of achieving your dreams.