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    CHANDERPRABHU JAIN COLLEGE OF HIGHER STUDIES & SCHOOL OF LAW

    May 16, 2023
    THE FUTURE OF THE LEGAL PROFESSION: LATEST TRENDS & INNOVATIONS IN LAW

    THE FUTURE OF THE LEGAL PROFESSION: LATEST TRENDS & INNOVATIONS IN LAW

    Students who enroll in the law course at CPJ College have the opportunity to study under renowned legal scholars, former justices of the high court, and other adjunct resources. While studying the law, students also have the opportunity to participate in mock trials and volunteer at legal aid organizations, giving them exposure to and experience in the real world that will benefit them in their legal careers, particularly in business law. Because they learn and live in a competitive environment, people in the legal profession or those who studied BALLB/BBALLB or LLM in particular are urged to participate in the latest trends and its legal practise. All of the law courses provided at CPJ's School of Law have been approved by the Bar Council of India, which is responsible for approving professional degrees for the legal profession in India.

    LEGAL PROFESSION AT CURRENT-TRENDS IN LAW

    The legal profession has expanded beyond the traditional options like litigation and is no longer restricted to a small number of fields of practice. There are many new fields of work available to recent law graduates, including cyber-security laws, media laws, technology laws, and much more. These young people opt to work in business law as opposed to pursuing a career in litigation, which has a high level of competition and poor income. Thus, by choosing a law firm, they want to increase their financial gain. The legal industry has expanded significantly in recent years, giving recent law graduates many new opportunities to practice and advance in their professions. In the realm of the legal profession, there are various specializations and fields of law practice, such as cyber-security law, which is a product of the contemporary tech-based society where everything is connected to the internet.
    Lawyers, especially those who study LLM, have the chance to pursue cases involving current legal developments in areas such as cyber bullying, fraudulent financial transactions, communication, data theft, and more. Another component of the legal profession and legal practise is mergers and acquisitions. In order to safeguard their corporate interests, a number of multinational corporations that are constantly growing must manage mergers and acquisitions. Intellectual Property Law refers to intangible properties created out of the creativity of the owner, like music, art, etc. Lawyers are required to defend such works so that offences such as stealing trade secrets or copying patented works can be challenged.
    Another area of law practice is insolvency and bankruptcy. Insolvency specialists and corporate lawyers are required to resolve the numerous non-performing loans in the bank as well as the delay in debt settlement. Alternative Dispute Resolution is another method for resolving conflicts and disagreements between parties through conversations and negotiations. Through CPJ's LLM Course, it is clear how all types of cases, including commercial, civil, industrial, and family matters, are covered by this system. Many people have been asking what the future actually holds for the legal profession and legal practice in India. It is acceptable to say that everything is progressively becoming digital. The legal industry and trends have also benefited from the most recent technological advancements, enabling lawyers to work for clients anywhere in the world and carry their offices with them on their computers.

    LATEST TRENDS & INNOVATIONS IN LAW- (Different Areas in the Legal Profession)

    Mergers and Acquisitions

    The uniting of two companies is referred to as a merger or acquisition (M&A). A merger occurs when two distinct organizations are united to form a single one. Here, both the ownership and management structures are altered. On the other hand, an acquisition is the taking over of one entity by another. In this scenario, a smaller business merges with and becomes a part of a larger business. Mergers and acquisitions have been a regular practise for multinational corporations as they continue to grow. Several statutes, including the Companies Act of 2013, the Competition Act of 2002, the Insolvency and Bankruptcy Code of 2016 and the Foreign Exchange Management Act of 1999, control this part of a business. Leading corporations need corporate lawyers, particularly those with LLM degrees, to oversee their mergers and acquisitions in order to protect their corporate interests. A lawyer serves as a legal advisor with regard to mergers and acquisitions legal matters. In this case, both the seller and the buyer need their own attorneys. Both sides' attorneys may collaborate on the development of the purchase agreement document. Lawyers handling mergers and acquisitions also have to handle client interactions on the firm's behalf.

    Cyber-security Law

    The modern world is becoming more digital, and trends in law are related via the internet. Today, the majority of human activities and the legal profession are conducted online. The internet, for instance, is used for communications and financial activities. This has led to the emergence of numerous legal issues related to cyber-security, data theft, cyber-bullying, etc. India currently has the Information Technology Act, 2000 (IT Act), which regulates matters relating to computer and internet usage. This law makes sure that data exchanged electronically during transactions is secure. Both the public and private sectors need lawyers with this kind of training. The legal profession requires that Cyber lawyers have a thorough understanding of the pertinent laws so they can apply them as needed. They must understand how the newest technologies, such as block chain, bitcoin, and cyber security, operate. A cyber attorney in law firms must consider the jurisdiction, the gathering of data from computers and other devices, etc.

    Insolvency and Bankruptcy Law

    The resolution of the debt was delayed and there was a significant buildup of non-performing loans in the bank. In order to address this problem, the Indian government passed the Insolvency and Bankruptcy Code (IBC) 2016, which establishes a timeline for resolving corporate insolvency. According to this law, the creditors decide how to end insolvency by having authority over the debtor's assets when a repayment default occurs. As a result, corporate lawyers and insolvency specialists have the chance to practise insolvency and bankruptcy law, which will increase their income and legal practice in this area. Different kinds of attorneys are necessary to grasp the bankruptcy and insolvency codes. Bank and finance attorneys are one of them. They are required when writing contracts for banks or the financial sector. They must keep in mind the primary problem of recovering debt in the event of default when structuring an agreement. The clauses in agreements have been greatly changed by IBC's presence because it helps these creditors recover bad loans.
    Corporate transaction lawyers, in-house counsel, labor and employment lawyers, etc. are also necessary in addition to attorneys that specialize in banking and finance. IBC (Amendment) Bill, 2021 has just presented to Lok Sabha. The IBC must be simplified, according to the Bill, to reduce the time and expense of bankruptcy proceedings for small enterprises. Pre-packaged Insolvency Resolution Process (PIRP), an alternative insolvency and resolution procedure, was introduced for Micro, Small and Medium Enterprises. (MSMEs). The main goal of this procedure is to give MSMEs the chance to restructure their liabilities and start over. In contrast to the Corporate Insolvency Resolution Process (CIRP), the PIRP allows debtors to maintain control over their troubled company during the whole resolution process.

    Intellectual Property Law

    Intellectual assets that are the outcome of an individual's ingenuity are referred to as intellectual property. For instance, it could be the creation of any kind of music, artwork, or chemistry. For a specific amount of time, the owner of such creations is granted certain rights that are described in various legal courses, such as LLM, in order to protect their creations. The term "intellectual property rights" (IPR) refers to these privileges. Patents, trademarks, and copyrights are a few examples of IPR. These rights may also be disregarded. A trained professional, such as an intellectual property lawyer, is needed to resolve these concerns. One might, for instance, steal a trade secret, replicate a work that is protected by a patent or copyright, recreate a patented work, launch a company using someone else's brand, etc. According to the most recent legal developments, legal action against these violations must be sought by an intellectual property attorney. They might demand payment for the sold work through a lawsuit or other legal action. They might even stop the business owners from breaking other IP laws. Intellectual capital has emerged as one of the main sources of income since the Indian economy was opened up. As a result, IPR-related legal concerns and legal activity are growing. India has a system in place to safeguard intellectual property rights in order to address the problem. The Copyright Act of 1957 protects the right of a creator of creative work, the Trademark Act of 1999 protects the trademark and the rights that a person acquires as a result of the trademark, among other things. The Patents Act of 1970 protects an inventor's right to commercially exploit his new technology or invention.

    Alternative Dispute Resolution (ADR)

    When it comes to handling the problem of India's overworked courts, ADR is crucial. It is a substitute mechanism that can be utilised in place of the conventional approach to conflict resolution. It is a method for resolving arguments and conflicts between the parties through dialogue and negotiation. This method covers all forms of disputes, including civil, commercial, family, and industrial ones. When a third party who is impartial in the legal field or legal practise assists the disputing parties in communication, discussion, and resolution of their differences, the conflict is resolved. Arbitration, conciliation, mediation, and negotiation are some of the different methods of resolution. Large corporations and organisations would rather resolve conflicts amicably than deal with drawn-out court battles. Either way, hiring a lawyer is not necessary for the ADR process to be effective. However, it is advantageous to hire them for complicated cases like child custody, the division of marital property, etc. The majority of ADR resolutions end in a binding contract. Before committing to such agreements, it is recommended that you consult with a lawyer.

    FUTURE OF THE LEGAL PROFESSION

    Because of technology, physical traces are no longer necessary. The majority of the work we perform in our daily lives is done online. It offers advantages. It enables us to work remotely, travel, operate an office on wheels, and more. There are various ways that technology can be improved in order to advance the judicial system, legal practice, and legal profession. Consider virtual courts. These are the courts that make use of a remote working technology to allow the professionals to conduct their business away from an office setting. You can implement this method by utilising a variety of programmes and equipment. The goal of the virtual courts is to do away with the need for a human witness in court and in legal proceedings. This helps the courts save time because the adjudication of cases is not delayed by the absence of the litigant, the client, or other court personnel. India is going ahead with the adoption of this system due to these advantages. During the COVID-19 crisis, where video conferencing was made available, a functioning system of virtual courts was observed. The Supreme Court of India and nearly all High Courts had been temporarily closed due to the statewide shutdown. On July 26, 2019, the Tis Hazari Court in Delhi, however, inaugurated the city's first virtual court. The efficient operation of these virtual courts will increase the capacity of our legal system to operate around-the-clock, which will enable the adjudication of cases to be completed in a timely way. Due to numerous flaws, India still lacks a fully functional system of these courts. However, soon India will have a well-established system of virtual courts. The Supreme Court recently incorporated a number of AI tools. Supreme Court Portal for Assistance in Courts Efficiency (SUPACE), an automation tool, was introduced by the Supreme Court in April 2021. This portal is an AI-powered aid that can read scanned papers and pull out pertinent information. Through this gateway, it takes only a few seconds to find information from a thousand pages of a document regarding facts, problems, and legal points. As a result, it makes it simpler for judges to do legal study and review, which speeds up resolutions. The Supreme Court Vidhik Anuvaad Software (SUVAS), a machine learning technology, does something similar by translating Supreme Court decisions into regional languages. The legal profession, legal practice, and changes in legal trends have all benefited greatly from technology. Artificial Intelligence (AI) is one of them. The top law firms and legal professions currently use AI. It is always changing for the betterment of numerous businesses as well as the legal profession. It has numerous advantages for automating tasks. It encourages quicker litigation processes since it expedites the effort involved in legal research, fact-checking, cross-checking, and background checks. A keyword search, for instance, can be used to sort documents. The e-discovery procedures facilitate the prediction of legal outcomes by sorting through years' worth of legal data. The legal sector will also be kept busy by emerging areas of cyber law, crypto currency rules, and data privacy laws. This demonstrates how technology will play a major role in the future of the legal profession.

    Need not to rely on experienced and senior lawyers

    Senior lawyers have an advantage over younger lawyers in the legal field since they have greater experience. And they make use of it to their advantage by charging their clients more for legal counsel. It is important for people to recognise that just because they spend more, they are not always receiving a better lawyer. Anyone who has completed a legal education program, such as an LLM, is more competent in their line of work. Their new outlook and creative responses to the problems of the present world enable them to perform significantly better and greatly advance their legal practise. Despite the senior lawyers' 20–30 years of experience, one cannot rely only on them. Recently, with the rise of technology and increased criminal activity, they may be having a harder time than the younger generation who grew up with technology like the internet. Younger people therefore have an edge in this regard. Young solicitors are in a better position than more seasoned solicitors in terms of applying novel concepts learned in law school to the practise of law. By developing new abilities, locating clients, and improving the client experience, they are utilizing technology to expand their legal practise. Customers are happy as a result, and they are more drawn to these youthful attorneys.

    Young lawyers can bring a change in the system

    In India, attorneys typically earn a living by representing clients in court. Litigation is what this is called. They typically bring criminal cases, or cases involving real estate, finances, or business dealings, to court. Young lawyers nowadays, however, have various options that they might select as a professional path in the legal profession. For instance, as the number of individuals using the internet rises, so do cybercrimes like breaking into other people's computers and stealing their data. Hence, we needed a law that applies to the internet as well as the internet associated technology. These laws are referred to as cyber-security laws.
    The Law Courses at CPJ College- Is designed with excellent enlightening and innovative qualities, as well as an outstanding and comprehensive syllabus study. All law programmes including LLM have received recognition for being incredibly effective at launching rich professions in a range of legal fields both in India and abroad. They have also been recognized for being incredibly professional and fruitful.

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    Courses Offered -
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    B.A.LL.B | BBA LL.B | LL.M