The Cambridge Law Faculty, when it launched the MCL in 2012, was motivated in part by rapid changes to the legal world. These continue today. The legal environment in which business is conducted has been transformed over recent decades, with corporate-oriented legal practice having been revolutionised in the process. Corporate transactions have grown markedly in scope, value and complexity. This has created intense demand for highly trained and skilled corporate lawyers. Legal practitioners who have a thorough command of the law and market practice are particularly sought after.
The changes that the legal world has undergone have fostered demand for high-quality postgraduate legal education with a strong corporate emphasis. Both those just concluding a degree in law and those who have already embarked upon a legal career can maximise their potential as business lawyers by continuing their legal education with corporate-oriented studies at Masters level.
The transformation of corporate-oriented legal practice has occurred in the broader context of rapid changes to the market environment and regulatory context in which companies operate. These trends have energised theoretical debates underpinning the functioning and regulation of corporations. As a result, for those pursuing legal studies as an academic endeavour as much as a means for professional advancement, a corporate-specific Masters degree will provide an exciting intellectual challenge.