How to Become Security or Antitrust Lawyers? Antitrust and securities law experts intervene to settle disputes when U.S. firms are accused of creating monopolies or deceiving investors. This article will give an overview of how to become Security or Antitrust Lawyers. Keep reading.
The National Collegiate Athletic Association’s prohibitions on educational benefits for student-athletes, such as free tutoring and graduate school scholarships, were deemed an unlawful restriction on competition in the marketplace by the U.S. Supreme Court in a recent high-profile antitrust lawsuit.
Elon Musk and his electric car company Tesla, Inc. also agreed to a $40 million settlement in a closely-followed securities lawsuit in 2018, after Musk made comments about the business on social media that the Securities and Exchange Commission found to be misleading and that raised the stock price of the company.
How to Become Security or Antitrust Lawyers
Antitrust or securities attorneys represent businesses and executives in significant instances like these, either in their favor or against them. A path to becoming an antitrust or securities attorney is provided below.
Securities Law and Antitrust: What They Are and Why They Matter
Certain anticompetitive corporate tactics, such as collusion, which can drive up prices or drive down wages, are illegal under federal law. Antitrust law is the name of this field of law.
The degree to which businesses must be truthful and open with their investors is also governed by federal legislation and regulations, or securities law. Executives and others who have access to corporate secrets that the general public does not are prohibited from engaging in insider trading by securities laws and regulations.
The antitrust and securities laws in the United States are designed to deter and prosecute unethical or unfair market manipulation that is detrimental to the general welfare. These conventions are frequently entwined with banking, employment, and labor regulations and are strongly connected to and comparable to consumer protection directives. Antitrust and securities laws also have an impact on tax laws, finance, mergers and acquisitions, and business bankruptcy.
What Securities and Antitrust Lawyers Do and How Much They Get Paid
While some antitrust and securities lawyers defend clients in court as litigators, others operate in the background as transactional lawyers, giving guidance on how to structure legal commercial transactions. Lawyers in these fields may also act as trial attorneys, regulators, or law enforcement agents for the government.
Corporate legal employment in these areas typically pays better than most lawyer positions do. The Law Crossing website for legal jobs reports that antitrust and securities attorneys in the United States make an average pay of around $118,000.
According to Jeffrey Lowe, worldwide practice leader of the law firm practice at the firm of Major, Lindsey & Africa, “They’re able to charge extremely high fees in both.” “When you look at, for instance, these significant-tech lawsuits involving Amazon, Google, Facebook, or Apple, you have teams of attorneys at major firms, or, in many cases, several big firms, all billing thousands of hours on the subject, and so the fees that they can make are immense.”
There are fewer people with knowledge in these specialized areas of law than in more general areas of law, which means there is less rivalry for desired employment, according to Lowe. It truly is a method of sticking out from the crowd.
Despite this, he asserts that the industries’ possibilities “ebb and flow” and that these occupations are not “recession-proof.”
What is Required to Become a Securities or Antitrust Attorney?
According to authorities in those fields, any future lawyer who is interested in business or economics and wants to make sure that the financial system operates correctly should think about studying securities law or antitrust law. Those interested in law tend to be serious students who are motivated by the idea of cracking complex intellectual issues.
Antitrust law and securities regulation J.D. courses are normally optional, and a J.D. degree can be obtained without them. However, experts advise enrolling if you wish to practice securities or antitrust law.
It can be a differentiator in the job market to be able to tell a prospective employer that you have taken corporation finance, antitrust, and securities regulation, according to Lowe. “I think some people are scared off by (antitrust and securities law) because they sound hard, but it really can be a differentiator in the job market,” Lowe says. “Therefore, I would advise anyone attending law school or considering doing so to not search for a quick fix. Take the challenging lessons so that you will be more prepared when you begin practicing.”
He asserts that in jobs in transactional law involving representing businesses, “it’s really beneficial to have some facility with numbers and with financial models and (be) very conversant with financial accounting, because you’re really at some level the consigliere for a company, and you have to advise them through a whole host of decisions, some of which are purely legal, but some of which may cross into other silos like accounting (and) finance.”
According to Bartlett, undergraduates thinking of a career in antitrust or securities law should enroll in business management classes to better comprehend and learn how to interact with their prospective future customers. He continues by advising them to enroll in law school courses in fundamental areas of company law such as tax law, mergers, and acquisitions law, corporate finance law, and business associations law.
Experts say there are two tried-and-true methods for starting or advancing a career in securities or antitrust law. Lawyers can work for a corporate law firm that represents significant clients who have significant antitrust or securities legal concerns, or they can join a federal department or agency that deals with these issues, such as the Federal Trade Commission, the Securities and Exchange Commission, or the antitrust division of the U.S. Department of Justice.
How to Pick the Best Law School for Your Preparation
Bartlett advises seeking a law school with “a comprehensive business law curriculum in general” and aiming to develop a wide skill set in corporation law for anybody planning to specialize in antitrust or securities law.
Focus more broadly on dealing with enterprises to assist them in obtaining funding, organizing and forming themselves, and providing them with strategic venture advice that may involve antitrust issues, he advises.
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