There are basically two types of business lawyers: those who handle lawsuits, called business litigators, and those who handle contracts and corporate matters, called transactional lawyers.
Business litigators represent the company in a lawsuit. Transactional lawyers advise companies concerning legal issues related to their business activities. These issues might involve patents, government regulations, contracts with other companies, property interests, or collective-bargaining agreements with unions. Larger companies typically have their own lead counsel or staff of lawyers, whereas smaller companies may retain the services of a law firm specializing in business law.
As with any career in law, typical education requirements include an undergraduate degree and then a J.D. from law school. Once in law school students can choose to take classes that focus more on business law and needs, such as commercial law, corporate law, and intellectual property law. After law school, you'll need to successfully pass the bar exam before being permitted to practice law in any state. The exam is administered by each state’s bar association, and therefore differs slightly.