Business Law

Business law requires analytical thinking, the ability to express oneself and personal responsibility. If you understand complex interrelationships, enjoy communicating and find legal and economic topics exciting, this is the right place for you. Business lawyers draft contracts, ensure compliance and guide companies through legal challenges - from digitalisation to data protection. Prof Dr Alexander Golland, Prof Dr Kathrin Kroll-Ludwigs, Prof Dr Riccarda Marcelli and Serena Grigo provide insights.

What is the occupational field of business law generally about?

The occupational field of business law encompasses a wide range of different legal activities specialising in business law and business science. Legal and business management skills are combined to advise companies and authorities on legal issues, draft contracts and ensure compliance with legal requirements and ethical standards.

What are the different occupational fields and what specific tasks are involved?

Contract law: negotiating, drafting and reviewing contracts

Labour law: drafting and reviewing employment contracts, dismissals and works agreements

Corporate law: advising on the formation, restructuring and merging of companies; reorganisation and restructuring of a company

Compliance: Ensuring that legal requirements and ethical standards are adhered to by the company's management, but also within the individual sections of a company; developing risk and compliance management systems and whistleblower protection systems; sustainability reporting

Tax and accounting law: compliance with tax regulations (in an international context where applicable) as well as accounting and financial reporting standards; tax optimisation within the company

International business law: implementation of European and international requirements; advice on cross-border transactions, e.g. cross-border mergers, establishment of subsidiaries abroad and compliance with the provisions of international tax law

What does a career in business law usually look like?

Business law students usually start as in-house counsel in a medium-sized company or in the legal department of a larger company. Increasingly, however, students are also working in law firms specialising in business law, e.g. in the areas of M&A (mergers & acquisitions), tax and corporate law. In addition, many students are interested in working for an auditing firm, e.g. the "Big Four". However, many students also aspire to a career in the public sector, where they work in authorities such as the tax offices, the Federal Cartel Office or the Federal Network Agency, at the Aachen city region, but also in the German Armed Forces.

How can you develop in the occupational fields?

In general, students are trained in the entire breadth of commercial law, so that they can be deployed in a variety of ways in companies, law firms and public authorities. There is potential for further development, especially if a Master's degree is obtained after the Business Law programme. Recently, many students have also decided to do a doctorate, e.g. at a university or the NRW doctoral programme.

What does the labour market in the field of business law currently look like?

At the moment, the situation for business law students is better than it has been for years. There is currently a high demand for business lawyers, especially in companies and law firms.

What qualifications and skills are necessary to be successful in this occupational field?

University entrance qualification, interest in legal and economic topics, ability to solve problems and resolve conflicts, good oral and written expression, text comprehension.

What compulsory foundation modules do we offer at our faculties in the field of business law?

We offer e.g:

1st semester: Introduction to Law, BGB General Section, Law of Obligations I; Introduction to Business Administration, Fundamentals of Economics

2nd semester: Labour Law, Law of Obligations II, Commercial and Corporate Law I; Accounting I

3rd semester: Law of digitalisation, corporate law II, basics of commercial criminal law & compliance; finance, taxation, accounting II

4th semester: Law Enforcement, International Business Law, Competition and Antitrust Law; Business English

Which specialisations can I choose?

We offer e.g:

Business Law:

• Banking and capital market law
• Insurance law
• Labour and social law
• Inheritance and inheritance tax law
• Copyright, trade mark and patent law
• Data protection law
• Real estate law

BUSINESS STUDIES:

• International Taxation
• Taxation of companies
• consulting
• Human Resources Management
• Financial markets and financial services

Are there any current developments in the occupational field that have an influence on the occupational fields?

The topic of AI will also bring significant changes to the legal occupational field in the coming years. The Faculty of Business Studies continuously offers further training events for students on this topic, which we highly recommend that they attend.