The legal profession has undergone a sea change in the recent times. While on one hand, corporates and businessmen have to comply with a large number of legal requirements prescribed by various statutes, on the other hand there are commercial concerns which they need to protect. A lawyer is expected to assist his client in striking a balance between the two. This requires deep knowledge of law and understanding of business practices. As a result the role of a lawyer and the sphere of his activities have increased manifold. He, not only represents the clients before the courts, but also assists him in planning and execution of his business ventures on a day to day basis. Since present day client requires variety of legal services for day to day running of his business he expects all his needs should be taken care of under one roof. As each type of legal service requires aptitude, knowledge, specialized training and experience, it is humanly not possible for one person to possess all qualities and to provide all legal services in different disciplines of law. This has necessitated the establishment of law firms where group of lawyers unite to provide comprehensive services in diverse disciplines of law and where each lawyer is a specialist in a particular branch of law. He not only possess the knowledge of law and experience to understand the intricacies of business necessary to address the concerns of the clients but also provide solutions to them.