Commercial lawyers will tend to have a specialist practice area (e.g., intellectual property) or industry focus (e.g., technology, media, and telecoms). The exception to this is in smaller firms, where the term simply refers to those whose clients are businesses rather than individuals.
Commercial solicitor duties in the commercial legal sector are dependent on which area the lawyer works in, but much of the transactional work focuses on protecting each client’s business interests by managing a wide range of risks. For example, this could mean interpreting the law to decide how to protect a client against liability for claims made on their website.
Day-to-day work for a lawyer at a commercial law firm involves drawing up a wide range of commercial agreements and standard forms of language, such as disclaimers.
You might be wondering what commercial law is all about. Commercial law is a broad term for a range of legal services designed to support businesses in making money from their products and services.
For example, intellectual property (IP) rights are crucial for creative industries and manufacturers to profit from innovation; sales on a domestic and international basis need contracts; and agency or distribution agreements can be made to sell the goods or services more widely.
To work as a solicitor, you can either take the Solicitors Qualifying Examination (SQE) or, if you are eligible, study the Legal Practice Course (LPC).
If you qualify through the SQE, you will also need to complete two years of Qualifying Work Experience (QWE). To prepare for the SQE, we recommend studying one of our SQE courses, which have been designed to give you the knowledge and skills for a successful career as a solicitor.
If you’re eligible to study the LPC, you will need to get a two-year training contract with a law firm. To find out what route is right for you, see our Becoming a Solicitor page.
Once you complete your two-year training contract, or QWE, you can apply to the Solicitors Regulation Authority (SRA) to be admitted as a solicitor.
To become a barrister, you will need to have completed an undergraduate law degree, or if you are a non-law graduate, a conversion course, before completing the Bar Practice Course (BPC). You will then need to secure tuition.
You can also study a Master of Law (LLM) in Data Protection and Intellectual Property, an LLM in International Commercial Law, or an LLM in Company Law to gain the knowledge and skills to move into this area.
Commercial law is a secure legal sector that continues to thrive and expand with our economy. Studying commercial law will not only help with research skills, attention to detail, and client liaison, but it will also give you the skills you need to stay up-to-date with industry news and economic changes.
Commercial law offers a wide range of opportunities to work on because it reviews the specific areas in which people trade. For instance, commercial lawyers can provide tax advice and sound contract law advice as well. So, there will always be a demand for legal professionals who want to specialise in commercial law.
Commercial solicitors need strong research skills and a sense of curiosity. They need to keep up-to-date with and develop a detailed and rounded knowledge of their clients’ industry and the factors that have a bearing on how they do business.
Attention to detail is of paramount importance, as the smallest error in an agreement could be a major problem for a client’s business. Working well in a team is a key skill, as larger-scale commercial work involves working with other solicitors and supporting staff in a firm.
A newly qualified solicitor in a firm outside of the city or a smaller commercial practice may expect to earn around £25,000 to £40,000. An average commercial solicitor salary in London is anything from £40,000 to £90,000 based on five years’ experience, according to Reed.co.uk. For those with over ten years’ experience, a commercial lawyer’s salary can range from £65,000 to £1,000,000. Those based in London and bigger cities will often earn more too. These estimations are always changing with the landscape of the job market. Be sure to regularly check average salaries when applying for roles.
