How to Be Corporate Paralegal - Job Description, Skills, and Interview Questions

May 19, 2021 / 5 Minutes Read / By Albert

How to Become

Professional Organizations

FAQ

Links

The growing complexity of legal regulations and business operations has caused an increased demand for corporate paralegals. Companies of all sizes are turning to these professionals to help them navigate the intricate legal landscape, with tasks ranging from document review and contract management, to complex legal research and compliance audits. Corporate paralegals are expected to possess a comprehensive understanding of the law and business operations, as well as excellent organizational and communication skills. As a result of the need for this specialized knowledge, corporate paralegals are increasingly in demand and can expect competitive salaries, good benefits packages, and long-term job security.

Steps How to Become

Obtain a Bachelor's Degree. The first step to becoming a corporate paralegal is to obtain a bachelor's degree from an accredited college or university. This could be in any discipline, but those considering a career as a paralegal should consider taking courses such as legal writing and research, business law, accounting, and computer applications.
Obtain Paralegal Certificate. Many employers prefer applicants who have a paralegal certificate. These are offered at many institutions, and they provide specialized training in corporate law and other areas of the legal field.
Gain Experience. Employers typically prefer applicants with experience in the legal field, so gaining experience through internships and volunteer work is essential.
Get Certified. The National Association of Legal Assistants offers a professional certification program for paralegals. This certification is highly recommended for those interested in working as corporate paralegals.
Find a Job. Once you have the necessary qualifications and experience, you can begin searching for a job as a corporate paralegal. Job postings can be found online or through local job postings. Networking is also important, so reach out to attorneys or other members of the legal community to learn about job openings.

The increasing demand for corporate paralegals has been driven by a variety of factors. Companies are increasingly seeking legal advice from outside sources such as paralegals, and the need for qualified professionals to handle complex legal issues has only intensified in recent years. The rise of the internet and technology has made it easier and more cost-effective for companies to outsource their legal needs, and this has led to an increase in demand for corporate paralegals.

the increased complexity of business law, combined with the ever-changing regulations and laws, has resulted in a greater need for qualified professionals to help companies stay up-to-date and compliant with the law. As a result, finding an ideal and capable corporate paralegal is becoming increasingly important for businesses.

You may want to check Litigation Coordinator, Litigation Technology Specialist, and Pro Bono Paralegal for alternative.

Job Description

Draft and review contracts, legal documents, and other business agreements
Monitor changes in relevant legislation and keep the organization abreast of such changes
Conduct legal research and provide legal advice to the organization
Support corporate attorneys in providing legal advice to management
Organize and maintain corporate records, such as board resolutions, meeting minutes, and share registers
Coordinate due diligence processes and prepare documents for transactions
Support the formation and winding up of corporate entities
Assist with corporate filings, such as annual reports and foreign qualifications
Prepare stock option plans, shareholder agreements, and other equity related documents
Review and advise on marketing materials, terms of use and privacy policy
Coordinate closings of transactions and prepare closing documents
Manage the corporate governance process, including the preparation of board and committee materials

Skills and Competencies to Have

Knowledge of applicable laws and regulations
Ability to draft, review and negotiate contracts
Ability to research legal issues
Understanding of corporate governance and securities regulations
Proficiency in Microsoft Office Suite
Ability to organize and maintain corporate records
Excellent written and verbal communication skills
Attention to detail and accuracy
Ability to work independently and under pressure
Time management and organizational skills

Having strong organizational and communication skills is a vital asset for any Corporate Paralegal. Being organized allows the Paralegal to efficiently manage multiple tasks and deadlines, while staying on top of all corporate records and documents. Communication skills enable the Paralegal to effectively collaborate with clients and colleagues, as well as to clearly explain legal concepts to those without legal knowledge.

Critical thinking, problem solving, and research skills are also essential for Corporate Paralegals to successfully complete their tasks. Furthermore, having an understanding of applicable laws, regulations, and court procedures is essential for a corporate paralegal to provide accurate guidance and counsel to the corporation or its clients. With these skills, a Corporate Paralegal can ensure that the corporation complies with all legal requirements and fulfills its legal obligations.

Real Estate Paralegal, Senior Paralegal, and Environmental Law Paralegal are related jobs you may like.

Frequent Interview Questions

What experience do you have working in a corporate law environment?
What relevant legal research and analysis experience do you have?
Describe a challenging corporate legal project you have worked on and how you successfully handled it.
How do you stay organized when dealing with complex legal matters?
Have you ever handled a corporate transaction from start to finish?
What legal software are you familiar with?
How do you stay up-to-date on changes in the law and corporate legal trends?
How would you handle a situation where a corporate client has conflicting requests?
Describe a time when you had to manage multiple projects and deadlines simultaneously.
What do you think sets you apart from other corporate paralegals?

Common Tools in Industry

Contract Management Software. Software that allows companies to store and manage contracts, as well as track expiration dates and deadlines. (eg: DocuSign)
eDiscovery Software. Software that helps corporate paralegals manage the process of collecting, preserving, and reviewing electronically stored information. (eg: Relativity)
Document Automation Software. Software that helps automate the process of drafting legal documents. (eg: HotDocs)
Legal Research Software. Software that assists paralegals in researching laws and court decisions. (eg: Westlaw)
Document-Sharing Platforms . Platforms that allow paralegals to securely share documents with clients and other parties. (eg: Dropbox)

Professional Organizations to Know

American Bar Association
Association of Corporate Counsel
National Association of Legal Assistants
International Association of Commercial Administrators
National Federation of Paralegal Associations
American Corporate Counsel Association
International Paralegal Management Association
Legal Administrators Network
National Association of Legal Professionals
The Paralegal Society

We also have Labor and Employment Law Paralegal, Legal Analyst, and Workers Compensation Paralegal jobs reports.

Common Important Terms

Corporate Law. A body of law that regulates the formation, operation, and dissolution of corporations, as well as their relationships with shareholders, creditors, and other stakeholders.
Business Entity. A legal structure that is used to conduct business activities. Common types of business entities include corporations, limited liability companies (LLCs), partnerships, and sole proprietorships.
Mergers and Acquisitions. A process in which one company purchases another or combines with another to form a new entity.
Securities Law. A body of law that governs the sale, purchase, issuance, and trading of securities and derivatives.
Contract Law. A body of law that governs the formation, performance, and breach of contracts.
Intellectual Property Law. A branch of law that governs the protection of inventions, trademarks, copyrights, and other intellectual property rights.
Corporate Governance. The rules and regulations that corporations must follow in order to remain compliant with applicable laws and regulations.
Regulatory Compliance. A process in which a company adheres to applicable laws and regulations in order to remain legally compliant.

Frequently Asked Questions

What are the duties of a Corporate Paralegal?

Corporate Paralegals typically perform a wide range of duties including researching legal issues, drafting legal documents, preparing and filing legal forms, reviewing contracts and leases, managing corporate records, and providing administrative support to corporate legal departments.

What qualifications are required to become a Corporate Paralegal?

To become a Corporate Paralegal, individuals typically need to have a bachelors degree in paralegal studies or a related field, and gain experience through an internship or job shadowing. Employers may also require Corporate Paralegals to pass a certification exam.

What is the average salary for a Corporate Paralegal?

According to the U.S. Bureau of Labor Statistics, the median annual salary for Corporate Paralegals as of May 2019 was $51,740.

What is the job outlook for Corporate Paralegals?

The U.S. Bureau of Labor Statistics projects a 7% growth rate for Paralegals and Legal Assistants from 2018 to 2028, which is faster than average for all occupations.

What are the benefits of becoming a Corporate Paralegal?

Becoming a Corporate Paralegal provides individuals with the opportunity to work in an exciting and dynamic profession that offers good job security and potential for career advancement. Additionally, Corporate Paralegals often receive attractive benefits packages that include medical and dental insurance, paid vacation and holidays, tuition reimbursement and 401k plans.