Looking For a Law Firm? Know About Different Types of Legal Practice
Not all law firms are the same. Depending upon your legal issues, you will have to choose among different types of law firms, expertise in a specific legal practice. Though law firms usually specialize in all areas of law and consist legal departments of all types and sizes, you must know about different types of legal practice; it would help you to choose the right law firm. For example, if you have legal issues related to banking and finance law, you will search for finance law firm in Beirut Lebanon.
Resolving civil and commercial disputes outside court is called arbitration. In this, the involved parties present their case to a single arbitrator or a panel instead of a judge. The arbitrator hands down a decision which has to be agreed by the parties. It is very common to arbitrate international disputes in a pre-agreed jurisdiction rather than turning it into litigation.
Banking and Finance law
Banking and finance is a vast and diverse area of law which majorly involves the regulation of financial products. It focusses on loan transaction, and financial lawyer works involve advising on simple bank loans to companies working on highly structured financial arrangements. Finance lawyers need to be commercially minded and consider the legal implications of every deal.
The corporate law directs the functioning of companies ranging from how they are formed to the transactions permitted to engage in. It also applies to regulate the rights and duties of shareholders, directors, creditors and other stakeholders.
Criminal law is that branch of law which deals with crime and punishment of those people who violates law and order. Most criminal laws are established by statute and differ from one country to another. However, the fundamentals of a crime are known as actus Reus and men's rea.
Immigration law refers to national government policies that control the immigration and deportation of people and related matters, like citizenship. Immigration law varies from one country to another and can include high profile international cases related to various topics, like the legality of the detention of immigrants.
Insurance law takes into account the regulation of insurance policies and claims. It can be roughly broken into three categories – regulation of the business of insurance, regulations of insurance claims and regulation of the content of insurance policies.
These are a few major legal area practices, you must know about before you decide on a law firm.