HOW TO BECOME A BUSINESS LAWYER
YOUR PATHWAY INTO BUSINESS LAW AND TRANSACTIONS
Business Law and Transactions focuses on the legal and commercial frameworks that help businesses operate, grow and manage risk. It covers how businesses are structured, how transactions are documented and how commercial obligations are met in day-to-day practice.
Business lawyers guide clients through decisions that have real financial and operational impact, from setting up the right legal structure to negotiating contracts, protecting commercial interests and ensuring compliance.
At the College of Law, you can build the practical commercial capability needed to thrive in this field through postgraduate study in Business Law and Transactions.
At-a-glance: How to Become a Business Lawyer
This page covers:
- What does a business lawyer do day-to-day?
- What personal strengths suit Business Law and Transactions?
- Is Business Law a good area to specialise in?
- What kinds of clients do business lawyers work with?
- How stressful is business law compared to other areas?
- Pros and cons of a career in business law
- How postgraduate study can strengthen your career prospects
- How do I become a business lawyer?
WHAT DOES A BUSINESS LAWYER DO DAY-TO-DAY?
Business lawyers help clients navigate legal and commercial obligations across the life of a business. This can include establishing new businesses using appropriate legal structures, advising on compliance requirements and addressing issues if compliance fails.
Typical work includes:
- Advising on business structures and governance
- Drafting and negotiating transaction documents and commercial contracts
- Supporting clients through business acquisitions, sales and restructures
- Advising on compliance across key business risk areas
- Providing practical guidance to help clients understand obligations and opportunities within the law
THERE IS NO "REGULAR DAY" IN BUSINESS LAW
As one experienced practitioner explains, the work can range from structuring a transaction to documenting and implementing it, with constant variety in client needs. Explore how Andrew Boog broke into Business Law.
IS BUSINESS LAW A GOOD AREA TO SPECIALISE IN?
Yes. Business law remains a highly active practice area because businesses need ongoing advice across transactions, risk and compliance in all market conditions.
Business lawyers can work across many industries and specialisations, including private practice, in-house roles, boutique firms and large multi-area commercial firms.
WHAT KINDS OF CLIENTS DO BUSINESS LAWYERS WORK WITH?
Business lawyers work with a wide mix of clients, often across different industries and stages of growth, such as:
- Start-ups and founders establishing new businesses
- Small and medium businesses managing contracts and compliance
- Larger organisations navigating transactions and governance
- Business owners buying or selling assets or shares
- Employers managing workplace obligations and risk
Because business law touches many areas, lawyers must stay across multiple legal issues that can affect a business and communicate those issues clearly to clients and third parties.
HOW STRESSFUL IS BUSINESS LAW COMPARED TO OTHER AREAS?
Business law can be deadline-driven, particularly around transactions and negotiations. Matters often move quickly, with clients needing prompt advice to keep deals progressing.
However, many lawyers enjoy that commercial work can be practical and solutions-focused. Negotiation often involves balancing competing interests and conducting ongoing cost-benefit analysis based on client priorities.
WHAT ARE THE PROS AND CONS OF A CAREER IN BUSINESS LAW?
With its mix of transactions, advisory work and negotiation, business law offers a challenging and rewarding career for lawyers who enjoy commercial problem-solving. For some lawyers, the variety is part of the appeal.
| Pros | Cons |
|---|---|
| High variety of work and industries | Multiple competing deadlines |
| Strong demand across market cycles | Must stay across complex legal frameworks |
| Opportunities to specialise | High expectation for clear drafting and precision |
| Client-facing, solutions-focused work | Pressure to provide timely commercial advice |
I graduated six months ago, and since then I've actively sought to implement what I've learned into my day-to-day practice.
Krystal Bellamy, LLM Graduate
I’ll never forget what I learned during my education, and the partners who have helped shape the lawyer I am today.
Lav Chhabra, LLM Graduate
HOW POSTGRADUATE STUDY CAN INCREASE YOUR EARNING POTENTIAL
Postgraduate study doesn’t just deepen your expertise. It can also boost your earning potential..
According to the College of Law Legal Salary Survey 2025, lawyers with postgraduate qualifications report average salaries above $130,000 per year, around $20,000 more than those with only an undergraduate qualification.
As demand for skilled business lawyers grows, further study can help you strengthen both your expertise and your career trajectory.
Adele Sparke, LLM Graduate in Business Law and Transactions, reflects on the practical value of postgraduate study:
“The lecturers are definitely the highlights because, as practising lawyers, that offers something really distinct from the purely academic.”
HOW DO I BECOME A BUSINESS LAWYER?
Your pathway generally includes:
- Completing a Bachelor of Laws (LLB) or Juris Doctor (JD). Many business lawyers consider a double degree in business or commerce.
- Completing Practical Legal Training (PLT). A Commercial and Corporate Practice module is required, with relevant electives such as Banking and Finance, Employment Law and Consumer Law.
- Admission through your state’s legal profession admission board (for lawyers).
- Completing supervised practice (often 18–24 months), ideally in a commercial or corporate firm.
- Continuing to build expertise through postgraduate study and relevant professional memberships.
The College of Law’s Master of Laws (Applied Law) Majoring in Business Law and Transactions develops advanced skills in commercial drafting, transaction structuring, negotiation and advising across complex business matters.
Subjects are taught by experienced practitioners who understand the realities of commercial practice and complex business transactions.
ADVANCING YOUR CAREER WITH THE COLLEGE OF LAW
Business lawyers play a central role in supporting clients across every stage of commercial growth and transaction activity. The College’s postgraduate programs help you strengthen drafting, negotiation and commercial strategy so you can advise with confidence.
Build expertise that businesses rely on and position yourself in one of law’s most dynamic and versatile practice areas.
FREQUENTLY ASKED QUESTIONS
Yes. Business law remains one of the most versatile and in-demand areas of practice in Australia. With ongoing transactional activity across all market conditions, it offers consistent work and strong career stability. Many lawyers also combine business law with corporate, employment or taxation advice to broaden their practice and client base.
Explore postgraduate study in Business Law and Transactions.
The Master of Laws (Applied Law) majoring in Business Law and Transactions includes subjects such as:
- Foundations of Business Law Practice
- Competition and Consumer Law
- Buying and Selling a Business
- Employment Law
- Business Risk Management
- Drafting Commercial Documents
- Business Structures and Taxation
Each subject is practical and commercially focused, helping you build applied skills in drafting, negotiation and transaction management.
Absolutely. Many business lawyers expand their expertise into Commercial Litigation or In-house Practice.
These areas naturally overlap, allowing you to deliver broader commercial advice and support clients across complex business matters.
To thrive in Business Law and Transactions, you’ll need:
- Strong drafting skills and attention to detail
- Communication skills to advise clients clearly and confidently
- Analytical thinking to navigate complex legal frameworks
- Negotiation skills to balance competing commercial interests
- Commercial awareness to provide practical, solutions-focused advice
The College of Law’s programs strengthen these through applied, practice-based learning led by experienced practitioners.
Postgraduate study helps you move beyond routine advisory work into higher-value transactions, negotiations and strategic commercial matters.
The College of Law’s Master of Laws (Applied Law) majoring in Business Law and Transactions equips you with advanced skills in drafting, structuring and advising, positioning you for senior roles and long-term career progression.
Business lawyers use CPD to build practical skills across transactions, contracts, structures and risk management.
If you want a broad foundation, the Essential Guide to Business Transactions CPD bundle covers the key stages of a typical business deal, from structuring and due diligence through to contracts and termination.
You can also tailor your CPD with focused single courses, including:
- Buying and Selling Business Assets: Step-by-Step Guide
- Choosing and Advising on Business Structures: Practice Guide
- Conducting Due Diligence: Step-by-Step Guide
- Drafting and Understanding Indemnity Clauses: Skills Series
- Drafting Commercial Documents: Skills Series
- Shareholder Agreements in Practice: Practice Guide
- Termination of Contracts: Practice Guide
- Unpacking Commercial Contracts: Skills Series
These options let you either follow a structured pathway or focus on the areas most relevant to your current practice.
If you prefer flexibility, the CPD Digital Subscription gives you on-demand access to a large library of 150+ CPD courses, allowing you to build your knowledge across all mandatory areas at your own pace.
